4Front Ventures Corp (OTCMKTS:FFNTF) reported revenues of $25 million in Q4 2020. Its full-year revenues are $88.1 million.
Inaugurates second dispensary in Calumet City
In Calumet City, 4Front Ventures inaugurated a second dispensary. The company is on an expansion spree in 2021.
As part of its expansion plans, 4Front will build a manufacturing and cultivation facility on an area of 558,000 sq. Ft.
In Elk Grove Village, Illinois, and Georgetown, Massachusetts, the company completed the retrofit and expansion of manufacturing and cultivation facility.
4Front is also constructing a manufacturing facility on 185,000 sq. Ft. in California and expects to make it operational in Q2 2021.
4Front will inaugurate a third dispensary in Brookline in Q2 2021. The company entered a sale and leaseback accord with Innovative Industrial Properties. Following this deal, 4Front will build a manufacturing and cultivation facility on 558,000 sq. Ft. in Illinois.
As per the terms of the agreement, 4Front will receive funding of $6.5 million by selling the land to Innovative Industrial. The company maintains a cash balance of $18.9 million by the end of 2020.
CEO of 4Front, Leo Gontmakher, said the strong performance in Q4 2020 is reflective of its economical manufacturing methods refined and developed within the Washington-based facilities. The company scaled up its operations in the flourishing adult-use markets of California, Massachusetts, and Illinois to post improved growth in 2021.
Leo further said the company’s strong performance is on the backdrop of higher demand for its quality products unveiled last year in Massachusetts. The company also opened its Illinois-based dispensary in Calumet in December 2020.
Expects to post $180 million revenues in 2021
4Front can scale up its business operations to enter the California Adult-use market worth $3 billion. The company also strengthened its production and cultivation footprint in Illinois. It expects to achieve revenues of $180 million in 2021.
Participates in conferences in April 2021
The management of 4Front will take part in one-to-one meeting on April 7, 2021, (ROTH Virtual Golden Cannabis Day). Its CEO will also participate in the PI Financial Golden State Green conference on April 14, 2021.
Multi-state cannabis operator 4Front engages in the mass production of high-quality cannabis products.