PHOENIX, June 26, 2025 /PRNewswire/ - 4Front Ventures Corp. ("4Front" or the "Company") (CSE: FFNT) (OTC: FFNTF), a vertically integrated cannabis operator, provides an update on the voluntary receivership proceedings involving its U.S. subsidiaries and changes to its Board of Directors.

As previously announced, on May 22, 2025, all U.S. subsidiaries of 4Front (the "Subsidiaries") filed for voluntary receivership in aid of liquidation under the laws of the Commonwealth of Massachusetts. These filings were made in the Business Litigation Session of the Superior Court for Suffolk County (the "Court") in case no. 2584CV01405 (the "Receivership").

On June 20, 2025, the Court entered an order appointing Opus Consulting Partners, LLC, through its principal Mr. Jacques Santucci, as Receiver for the Subsidiaries and their associated assets. The Receiver has been granted broad authority to operate, manage, and pursue the orderly sale of the Subsidiaries to maximize value for creditors and stakeholders. The Receiver is also authorized to engage Stone Blossom Capital LLC, whose principal is Richard Ormond, as a senior strategic consultant and advisor in connection with the process.

With the appointment of the Receiver and 4Front's previously announced assignment pursuant to Canada's Bankruptcy and Insolvency Act (the "Bankruptcy"), Kris Krane, Chairman of the Board, and David Daily, Director, have today tendered their resignations from the Company's Board of Directors effective immediately.

Additional information regarding the Receivership may be obtained from the Receiver; additional information regarding the Bankruptcy may be obtained from B. Riley Farber, Inc., the trustee.

Legal counsel to the Company is Foley Hoag LLP.

About 4Front Ventures Corp.

4Front is a national, vertically integrated multi-state cannabis operator with operations in Illinois and Massachusetts and facilities in Washington. Since its founding in 2011, 4Front has built a strong reputation for its high standards and low-cost cultivation and production methodologies earned through a track record of success in facility design, cultivation, genetics, growing processes, manufacturing, purchasing, distribution, and retail. To date, 4Front has successfully brought to market more than 20 different cannabis brands and over 1,800 products, which are strategically distributed through its fully owned and operated Mission dispensaries and retail outlets in its core markets. For more information, visit 4frontventures.com.

For inquiries related to the Receivership:
Opus Consulting Partners, LLC
Jacques Santucci, Receiver
jacques@opuscg.com
(207) 619-1899

For inquiries related to the Bankruptcy:
https://brileyfarber.com/engagements/4frontventures/

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

 

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SOURCE 4Front Ventures Corp.