A Look into Washington Cannabis Favourite 4Front Ventures (FFNT) Expansion
4Front Ventures Corp (CNSX:FFNT, OTCMKTS:FFNTF) was formed in July 2019 by merging Cannex Capital and 4Front Holdings. Taking over from Cannex, the company has established a dominant position in Washington State, with a full line of products distributed to over 260 retail locations. The company has the second-best market share in Washington, out of over 600 license holders. With that background of success, 4Front’s has taken its proven thesis to expand into further states.
4Front is now a multi-state cannabis operator and retailer that mass-produces low-cost branded cannabis products. The company now owns or manages medical and adult-use cannabis markets, including California, Illinois, Massachusetts, Michigan and Washington.
The company has focused heavily on two critical projects, Massachusetts and California, but intends to move heavily into Illinois. This falls in line with the increase in Illinois retail licenses and consumer demand. The company is hopeful these milestones will lay the foundation for continued growth into the future.
The company recently announced a 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.