4Front Ventures Reports Second Quarter 2021 Financial Results and Provides Business Update

CANNANNEW REPORT

Systemwide Pro Forma Revenue of $34.4 million compared to $31.4 million in Q1 2021, an increase of 85% year over year and 10% over Q1 2021 Q2 2021 Adjusted EBITDA increased 27% sequentially to $7.5 million as compared to Q1 2021, representing an Adjusted EBITDA margin of 22%   Navy Capital committed to lead financing of proposed accretive acquisition in core market Reiterated FY2021 guidance for Systemwide Pro Forma Revenue of $170-180 million and Adjusted EBITDA of $40-50 million The Company’s existing licensed projects at maturity represent a long-term revenue and EBITDA opportunity upwards of $650 million and $250 million   Conference call to be held today, August 16, 2021 at 5:00 p.m. ET PHOENIX, Ariz., August 16, 2021 – 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (“4Front” or the “Company”), a vertically integrated, multi-state cannabis operator and retailer, today announced its financial results for the second quarter ended June 30, 2021 (“Q2 2021”). All financial information is presented in U.S. dollars unless otherwise indicated.   Q2 2021 Financial Results Highlights Systemwide Pro Forma Revenue of $34.4 million compared to $31.4 million in Q1 2021, an increase of 85% year over year and 10% over Q1 2021 GAAP-reported revenue of $27.1 million compared to $23.0 million in Q1 2021, an increase of 114% year over year and 18% over Q1 2021 Adjusted EBITDA increased 27% to $7.5 million compared to $5.9 million in Q1 2021, representing an Adjusted EBITDA margin of 22% as compared to an Adjusted EBITDA margin of 19% in Q1 2021   Operational Highlights Strong performance in sales and product adoption across retail locations, exceeding all internal projections; positive momentum continues in Q3 California The Company’s state-of-the-art 170,000 square foot production facility in Commerce, California is complete, and is in the final stages of licensure Illinois The…

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