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4Front Ventures (FFNT.C) recent bought deal closure brings their California production facility closer

production
11/24/2020

4Front Ventures (FFNT.C) completely funded 185,000 square foot production facility in Commerce, California, is almost complete and the company anticipates that it will help serve the $3 billion California cannabis market in Q2, 2021, according to a press release.

The project is likely to be complete by April 2021, and the company immediately plans to roll out its full line of edibles, tinctures and vape products to California shelves by May.

“Our experience in Washington, Massachusetts and Illinois, where we excel in low-cost manufacturing at scale, uniquely positions us to successfully compete in one of the largest, if not the largest, cannabis markets in the world,” said Leo Gontmakher, chief executive officer of 4Front.

4Front’s brand penetration includes the Massachusetts, Illinois and soon, they contend, the California markets. Their automated Commerce facility boasts unprecedented capacity for finished goods manufacturing, comparable in scale to the traditional consumer packaged goods industry. They will be able to produce over ten times the current capacity of the company’s 40,000 square foot Washington production facility, which is presently the number one producer of derivative cannabis products in Washington State.

“This facility is almost finished and with our large-scale customized production line will produce a minimum of ten times more product per shift than the largest of our other locations. I am not aware of a production facility in the country which will rival us in either size or efficiency and we are poised to attack the California market in a manner that the rest of the industry has been unable to do,” said Gontmakher.

The company’s recent closure of a CAD$17.25 million bought deal financing has given the company what it needs to finish the California facility and replicate the same strategy they used in Washington State.

—Joseph Morton

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