4Front Ventures Corp. Closes on the First Phase of an Up to 558K Sq. Ft. Cultivation and Production Facility in Illinois

CANNANNEW REPORT

First Phase of the Multiphase Expansion Project includes 250K Sq. Ft. Backed by Innovative Industrial Properties, Inc. with Anticipated Construction to Be Completed in Q4 2022; Facility to Create 500 New Livable Wage Jobs in the Village of Matteson Region and Help Meet Demands in Fast-Growing Illinois Cannabis Market PHOENIX, August 5, 2021 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”), a vertically integrated, multi-state cannabis operator and retailer, announced the first closing of a multiphase expansion project to build an up to 558,000 sq. ft. cultivation and production facility (the “Facility”) in the Village of Matteson, Illinois, located outside of Chicago. Under the previously announced agreement, the first phase of 4Front’s multiphase expansion project is anticipated to include a 250,000 sq. ft. building, including 65,000 sq. ft. of flowering canopy and 70,000 sq. ft. of manufacturing space, which has been backed by Innovative Industrial Properties, Inc. (“IIP”) (NYSE: IIPR), the first and only real estate company on the New York Stock Exchange focused on serving the regulated cannabis industry. 4Front plans to use the Facility to produce the Company’s more than 20 in-house brands and 2,000 products, which will be offered to Illinois customers at an accessible price point at its Mission Dispensaries and partner dispensaries across Illinois. The Facility is also expected to produce a variety of white-labeled products such as flower, concentrates, edibles, tinctures, gel capsules and other manufactured products for other multi-state operators, cannabis businesses and brands. “I want to thank Illinois Governor J.B. Pritzker, Illinois State Senator Michael Hastings, Cook County President Toni Preckwinkle and the Bureau of Economic Development, Cook County Assessor’s Office, Village of Matteson President Sheila Chalmers-Currin and the Board of Trustees, as well as her economic development team, Intersect Illinois, World Business Chicago,  Illinois Department of Agriculture,…

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Source : 4Front Ventures Corp. Closes on the First Phase of an Up to 558K Sq. Ft. Cultivation and Production Facility in Illinois

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