Announcement • Jun 27
4Front Ventures Corp. Announces Board Resignations, Effective June 26, 2025 4Front Ventures Corp. announced that Kris Krane, Chairman of the Board, and David Daily, Director, have tendered their resignations from the Company's Board of Directors effective June 26, 2025. Mr. Krane was both the Chair of the Board and a member of the Audit Committee; Mr. Daily was a director and Chair of the Audit Committee. Announcement • Apr 04
4Front Ventures Corp. Announces Board Changes 4Front Ventures Corp. announced changes to its Board of Directors, provided an update on the timing of its fourth quarter and fiscal year 2024 financial results, and announced the issuance of certain equity grants in lieu of cash Board pay. Effective March 29, 2025, Chetan Gulati, Roman Tkachenko, and Leo Gontmakher have stepped down from the Company's Board of Directors. These changes are part of a broader effort to enhance governance and support the Company's long-term strategic priorities. The departing directors are affiliated with the Company's senior lenders--Mr. Gulati with Navy Capital, and Messrs. Tkachenko and Gontmakher with LI Lending --and their resignations are intended to eliminate potential conflicts of interest and enable more independent oversight and decision making in regard to those lenders. Chairman Kris Krane and Audit Chair David Daily will remain on the Board to provide continuity. Announcement • Apr 01
4Front Ventures Corp. announced delayed annual 10-K filing On 03/31/2025, 4Front Ventures Corp. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Buy Or Sell Opportunity • Feb 18
Now 25% overvalued Over the last 90 days, the stock has fallen 44% to CA$0.025. The fair value is estimated to be CA$0.02, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.1% over the last 3 years, while earnings per share has been flat. New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 37% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (51% average weekly change). Negative equity (-US$48m). Shareholders have been substantially diluted in the past year (37% increase in shares outstanding). Market cap is less than US$10m (CA$13.7m market cap, or US$9.58m). Buy Or Sell Opportunity • Jan 08
Now 29% undervalued after recent price drop Over the last 90 days, the stock has fallen 79% to CA$0.015. The fair value is estimated to be CA$0.021, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.1% over the last 3 years, while earnings per share has been flat. New Risk • Dec 31
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.7m (US$9.53m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (43% average weekly change). Negative equity (-US$48m). Market cap is less than US$10m (CA$13.7m market cap, or US$9.53m). Minor Risk Shareholders have been diluted in the past year (37% increase in shares outstanding). Buy Or Sell Opportunity • Dec 17
Now 90% overvalued Over the last 90 days, the stock has fallen 43% to CA$0.04. The fair value is estimated to be CA$0.021, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.1% over the last 3 years, while earnings per share has been flat. Reported Earnings • Nov 17
Third quarter 2024 earnings released: US$0.007 loss per share (vs US$0.04 loss in 3Q 2023) Third quarter 2024 results: US$0.007 loss per share (improved from US$0.04 loss in 3Q 2023). Revenue: US$17.1m (down 26% from 3Q 2023). Net loss: US$6.46m (loss narrowed 76% from 3Q 2023). Announcement • Nov 08
4Front Ventures Corp. to Report Q3, 2024 Results on Nov 14, 2024 4Front Ventures Corp. announced that they will report Q3, 2024 results After-Market on Nov 14, 2024 Board Change • Sep 13
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non Independent Director Leo Gontmakher was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 16
Second quarter 2024 earnings released: US$0.006 loss per share (vs US$0.008 loss in 2Q 2023) Second quarter 2024 results: US$0.006 loss per share (improved from US$0.008 loss in 2Q 2023). Revenue: US$18.7m (down 31% from 2Q 2023). Net loss: US$5.24m (loss narrowed 1.7% from 2Q 2023). Announcement • Aug 07
4Front Ventures Corp. to Report Q2, 2024 Results on Aug 14, 2024 4Front Ventures Corp. announced that they will report Q2, 2024 results After-Market on Aug 14, 2024 Announcement • Jul 26
4Front Ventures Corp., Annual General Meeting, Oct 02, 2024 4Front Ventures Corp., Annual General Meeting, Oct 02, 2024. Announcement • Jul 06
4Front Ventures Corp. Announces Management Changes 4Front Ventures Corp. announced that current Company director Kris Krane became Chair of the Board in place of Robert Hunt, who is departing the Board. Mr. Krane has extensive experience in the cannabis industry, having previously served as the Company's President and played a key role in its growth and development. As a regulatory and business strategist, as well as a frequent speaker at cannabis conferences and events around the world, Mr. Krane has spent the last two decades working to advance the cannabis industry and movement. He has served as Associate Director of the National Organization for the Reform of Marijuana Laws ("NORML") and Executive Director of Students for Sensible Drug Policy, and is Chair Emeritus of the National Cannabis Industry Association Board of Directors. An Illinois resident, Krane's deep industry knowledge and local presence align with 4Front's strategic focus on growth in that state. Mr. Hunt's departure is not in connection with any known disagreement with the Company on any matter relating to the Company's operations, policies, or practices, including accounting principles and practices. Announcement • Apr 02
4Front Ventures Corp. announced delayed annual 10-K filing On 04/01/2024, 4Front Ventures Corp. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Mar 28
4Front Ventures Corp. to Report Q4, 2023 Results on Apr 15, 2024 4Front Ventures Corp. announced that they will report Q4, 2023 results at 4:00 PM, US Eastern Standard Time on Apr 15, 2024 Price Target Changed • Feb 14
Price target decreased by 64% to CA$0.20 Down from CA$0.55, the current price target is an average from 2 analysts. New target price is 67% above last closing price of CA$0.12. Stock is down 64% over the past year. The company posted a net loss per share of US$0.074 last year. Announcement • Jan 08
4Front Ventures Corp. Announces Chief Executive Officer Changes 4Front Ventures Corp. announced that its board of directors have appointed Andrew Thut as Chief Executive Officer, effective January 8, 2024. Mr. Thut will succeed Leo Gontmakher, who has served as Chief Executive Officer since May 30, 2020. Mr. Gontmakher will remain on the Board as a director and serve as a consultant to the Company. Announcement • Dec 12
4Front Ventures Corp. Debuts Cannabis Flower Brand the Hunt 4Front Ventures Corp. announced the launch of cannabis flower brand, The Hunt, expanding the Company's brand portfolio in Massachusetts and adding to its growing offering of high quality, affordable flower. The Hunt's product lineup, which features exclusive offerings of rare, limited and small-batch phenotypes, is now available for purchase at 4Front's Mission Dispensaries in Georgetown, Worcester, and Brookline, MA, and at partner dispensaries across the Bay State. Each strain drop of The Hunt is only available for a limited time, while supplies last; the Company expects to introduce the new offering to Illinois cannabis consumers in first quarter 2024. Utilizing rare, heritage genetics, and creative cross breeding, The Hunt's unique and proprietary strains are available in small batches and limited releases. The latest release of The Hunt offers a lineup of indica dominant strains such as Mandarin Zkittles #4, Mandarin Zkittles #7, Mandarin Zkittles#10, Planet Sherb and Plasma Gas, as well as sativa dominant strains such as Crazey Hazey #5, Crazey Hazey #8, Killer Bees #1, and Killer Bees #6. Announcement • Dec 01
4Front Ventures Corp. Announces Chief Financial Officer Changes 4Front Ventures Corp. announced that effective November 30, 2023, Nicole Frederick resigned as Interim Chief Financial Officer to pursue another opportunity. Peter Kampian has been appointed Chief Financial Officer (CFO), effective December 1, 2023. Mr. Kampian, 64, will employ his wealth of experience in the financial sector to elevate the Company's finance and accounting functions. Kampian is a seasoned executive with over two decades of financial expertise gained through various roles, including his tenure as the Chief Financial Officer of Algonquin Power and Utilities Corp., where he led and supported debt and equity capital raising initiatives, along with numerous acquisitions. Kampian also held the role of CFO at Mettrum Health Corp., which was later acquired by Canopy Growth Corp., and serves as CFO at Electryon Power Inc. and Huxley Health Inc. In addition to his executive roles, Kampian has served on several boards, such as Aduro Clean Technologies Inc., Harborside Inc., Greenbutts Inc., Red Pine Exploration Inc., and as a director at Origin House. Most recently, he has applied his expertise as the Chief Restructuring Officer for the Canadian cannabis companies PharmHouse Inc. and Muskoka Grown Limited. He is a CPA and received a Bachelor of Business Administration from Wilfrid Laurier University. Announcement • Nov 15
4Front Ventures Corp. announced delayed 10-Q filing On 11/14/2023, 4Front Ventures Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Price Target Changed • Nov 14
Price target decreased by 27% to CA$0.40 Down from CA$0.55, the current price target is an average from 3 analysts. New target price is 43% above last closing price of CA$0.28. Stock is down 47% over the past year. The company posted a net loss per share of US$0.074 last year. Announcement • Nov 02
4Front Ventures Corp. to Report Q3, 2023 Results on Nov 14, 2023 4Front Ventures Corp. announced that they will report Q3, 2023 results After-Market on Nov 14, 2023 Announcement • Oct 18
4Front Ventures Corp. announced that it expects to receive $10 million in funding 4Front Ventures Corp. announced that it has entered into a $10 million senior secured credit facility agreement on October 16, 2023. The transaction will include participation from new lender, ALT Debt II, LP, managed by Altmore Capital Investment Management, LLC. The funds will be disbursed in two tranches. The credit facility will bear simple interest at a rate per annum equal to the greater of (i) the WSJ Prime Rate plus 7% and (ii) 15.5%, payable monthly and the maturity date of the credit facility will be September 30, 2026. Announcement • Sep 15
4Front Ventures Broadens Illinois Offerings with Expansion of Island Cannabis Co. Product Line 4Front Ventures Corp. announced the expansion of its product offerings in Illinois under its premium flower brand, Island Cannabis Co. ("Island"). The lineup features a new 7g size of Island's premium flower and the soon-to-be-released Island Classic Single Strain 1g Pre-Rolls, both offered in four distinct strains -- Garlic Z, Banana Puddintain, Grease Monkey, and Duct Tape. Customers can now find the Island 7g flower offering at 4Front's Mission dispensaries in Calumet City and South Chicago, with further expansion into partner dispensaries throughout the state planned for the coming weeks. As part of the launch, 4Front is proud to introduce the Island Adventure Pack promotion in celebration of National Public Lands Day on September 23(rd) . The country's largest single-day volunteer effort is organized by the National Environmental Education Foundation (NEEF) in partnership with the National Park Service, where Americans are encouraged to show their appreciation for the environment with free admission to over 400 National Parks. With the purchase of Island flower and Island Classic Single Strain Pre-Rolls, customers will receive an Island Cannabis Co. t-shirt, perfect for an adventure in Indiana Dunes National Park, located near 4Front's Mission dispensaries in Calumet City and South Chicago. Additionally, on September 30(th), Mission Dispensaries is sponsoring the Stand Up 2 Cancer comedy show at Signature Sports Bar and Grill, located at 3215 Union Ave, Steger, IL at 8:00 pm CT. The event is in support of Zero Prostate Cancer, a leading national nonprofit with a mission to end prostate cancer and help all who are impacted, with proceeds going toward veterans undergoing treatment. In support of the initiative, 4Front is offering attendees $10 off their next purchase of $65+ at Mission dispensaries in Calumet City and South Chicago. For more information on 4Front's charitable initiatives, visit the Company's website. Reported Earnings • Aug 17
Second quarter 2023 earnings released: US$0.018 loss per share (vs US$0.01 loss in 2Q 2022) Second quarter 2023 results: US$0.018 loss per share (further deteriorated from US$0.01 loss in 2Q 2022). Revenue: US$30.7m (up 7.9% from 2Q 2022). Net loss: US$11.5m (loss widened 75% from 2Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Pharmaceuticals industry in Canada. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has fallen by 47% per year, which means it is significantly lagging earnings. Announcement • Aug 06
4Front Ventures Corp. Announces Update to Senior Management Team Effective July 31, 2023, Keith Adams resigned as Chief Financial Officer of 4Front Ventures Corp. Keith resigned to pursue other career opportunities. Effective immediately, the company has named Director of External Reporting, Nicole Frederick, age 31, to be interim Chief Financial Officer and have begun the process of identifying Keith's successor. Nicole has served as Director of External Reporting since August 2022. She began her career at EY, a big four accounting firm, in 2014. Prior to joining the Company, she held various roles in External Reporting at an infrastructure services company. Nicole is a CPA and holds a Master's and Bachelor's degree in Accountancy from Arizona State University, W. P. Carey School of Business. Announcement • Aug 03
4Front Ventures Corp. to Report Q2, 2023 Results on Aug 15, 2023 4Front Ventures Corp. announced that they will report Q2, 2023 results After-Market on Aug 15, 2023 Price Target Changed • Aug 01
Price target decreased by 13% to CA$0.55 Down from CA$0.63, the current price target is an average from 3 analysts. New target price is 224% above last closing price of CA$0.17. Stock is down 78% over the past year. The company posted a net loss per share of US$0.074 last year. New Risk • Jun 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: CA$123.5m (US$92.3m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Significant insider selling over the past 3 months (CA$130k sold). Market cap is less than US$100m (CA$123.5m market cap, or US$92.3m). Announcement • Jun 07
4Front Ventures Corp., Annual General Meeting, Jul 14, 2023 4Front Ventures Corp., Annual General Meeting, Jul 14, 2023, at 12:00 US Eastern Standard Time. Location: 29 Everett Street Holliston Massachusetts United States Agenda: To consider and, if thought advisable, approve a resolution setting the number of directors for the present time at 6; to elect directors of the Company for the upcoming year; to appoint Davidson & Company LLP as the auditor of the Company for the upcoming year and to authorize the directors to fix their remuneration; to consider, and if thought fit, to pass, with or without variation, an ordinary resolution ratifying, confirming and approving the Company’s stock option plans and the unallocated options thereunder; and to consider other items of business that may be properly brought before the meeting. Announcement • May 23
Amit Patel Steps Down as a Director of 4Front Ventures Corp 4Front Ventures Corp. announced that Amit Patel has stepped down as a director and the Chair of the Audit Committee of the Company, effective May 16, 2023. Reported Earnings • May 17
First quarter 2023 earnings released: US$0.018 loss per share (vs US$0.01 loss in 1Q 2022) First quarter 2023 results: US$0.018 loss per share (further deteriorated from US$0.01 loss in 1Q 2022). Revenue: US$30.4m (up 17% from 1Q 2022). Net loss: US$11.4m (loss widened 93% from 1Q 2022). Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Pharmaceuticals industry in Canada. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Announcement • May 05
4Front Ventures Corp. Elevates the Cannabis Infused Chocolate Category 4Front Ventures Corp. announced it is elevating the cannabis-infused chocolate category, premiering "Koko Gemz Variety Pack'' in Massachusetts. The new product offering features four chocolate flavors - Milk Chocolate, Dark Chocolate, Cookies & Cream and Peanut Butter Milk Chocolate - each made by the Company's master chocolatiers using handcrafted Belgian chocolates. Using only the highest quality ingredients, 4Front combined two things it loves most - chocolate and cannabis - to create a delectable assortment of vegetarian cannabis-infused treats in one convenient box. Each variety pack contains a mix of 20 Koko Gemz with 5mg of THC, delivering a tasty tension of chocolate, luscious smoothness and 100mg of THC in each box. Price Target Changed • Apr 03
Price target decreased by 12% to CA$0.81 Down from CA$0.91, the current price target is an average from 4 analysts. New target price is 258% above last closing price of CA$0.23. Stock is down 76% over the past year. The company posted a net loss per share of US$0.074 last year. Board Change • Apr 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Co-Founder, Strategic Advisor & Director Kris Krane was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 31
Full year 2022 earnings released: US$0.074 loss per share (vs US$0.065 loss in FY 2021) Full year 2022 results: US$0.074 loss per share (further deteriorated from US$0.065 loss in FY 2021). Revenue: US$118.6m (up 13% from FY 2021). Net loss: US$46.9m (loss widened 22% from FY 2021). Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Pharmaceuticals industry in Canada. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Feb 24
Insider recently sold CA$199k worth of stock On the 22nd of February, Joshua Rosen sold around 330k shares on-market at roughly CA$0.60 per share. This transaction amounted to 1.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$5.0m more than they bought in the last 12 months. Announcement • Feb 10
4Front Ventures Corp. Debuts Cannabis Blunt Brand 1988, Expanding Product Suite 4Front Ventures Corp. broadened its brand portfolio with the launch of 1988, a new line of flavored, tobacco-free blunts that feature the Company's top-tier flower. 1988 is now available at 4Front's Mission Dispensaries in Georgetown, Worcester and Brookline, Massachusetts. The new brand will continue to roll out to partner dispensaries in the Bay State and to Illinois cannabis consumers later this year. The 1988 pre-rolled 1 gram blunts are packed full of 4Front's choice nugs, rolled into tobacco-free blunt cones and are available as singles in dube tubes. The filterless, slow-burning blunts are available in a variety of strains and flavors designed to enhance the strain's flavor profile and user experience. Price Target Changed • Jan 20
Price target decreased to CA$0.95 Down from CA$1.03, the current price target is an average from 4 analysts. New target price is 211% above last closing price of CA$0.30. Stock is down 70% over the past year. The company posted a net loss per share of US$0.065 last year. Recent Insider Transactions • Dec 08
Insider recently sold CA$51k worth of stock On the 5th of December, Joshua Rosen sold around 70k shares on-market at roughly CA$0.73 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth CA$214k. Insiders have been net sellers, collectively disposing of CA$4.7m more than they bought in the last 12 months. Announcement • Nov 30
4Front Ventures Corp. Announces Board Changes On November 23, 2022, Kathi Lentzsch, a member of the Board of Directors of 4Front Ventures Corp. and the Chair of the Company’s Compensation Committee, announced her intention to resign from the Board effective November 30, 2022. Ms. Lentzsch’s resignation was not in connection with any known disagreement with the Company on any matter relating to its operations, policies, or practices. The Company will seek a replacement to fill Ms. Lentzsch’s seat on the Board. Effective with Ms. Lentzsch’s resignation, current Board Chair Robert Hunt will join the Compensation Committee, and current Board and Compensation Committee member David Daily will become Chair of the Compensation Committee. Price Target Changed • Nov 16
Price target decreased to CA$1.03 Down from CA$1.23, the current price target is an average from 4 analysts. New target price is 93% above last closing price of CA$0.53. Stock is down 63% over the past year. The company posted a net loss per share of US$0.065 last year. Reported Earnings • Nov 16
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: US$32.5m (up 25% from 3Q 2021). Net loss: US$8.61m (loss widened 87% from 3Q 2021). Revenue is forecast to grow 35% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Pharmaceuticals industry in Canada. Announcement • Nov 08
4Front Ventures Corp. to Report Q3, 2022 Results on Nov 14, 2022 4Front Ventures Corp. announced that they will report Q3, 2022 results After-Market on Nov 14, 2022 Board Change • Oct 31
High number of new directors Independent Director Rob Hunt was the last director to join the board, commencing their role in 2022. Price Target Changed • Oct 25
Price target decreased to CA$1.10 Down from CA$1.23, the current price target is an average from 3 analysts. New target price is 100% above last closing price of CA$0.55. Stock is down 55% over the past year. The company posted a net loss per share of US$0.065 last year. Announcement • Sep 27
4Front Ventures Corp. Launches Premier California Cannabis Brand in Massachusetts, "Island" 4Front Ventures Corp. announced the launch of its premier California cannabis brand, Island Cannabis Co. ("Island"), in Massachusetts. Following the Company's acquisition in April 2022 of Island, a California-based producer of pre-rolls, flower and concentrate products, the Company began cultivating 11 new Island flower strains at its flower facilities located in Holliston, Georgetown and Worcester, Massachusetts. The 11 new Island strains include: Project 4516; The Cypher; Banana Puddintain; Garlic Z; Star 91; Mimosa; London Pound Mints; TK-43; Wonka Bars; Cookies & Cream; and Grapes n' Cream. Each strain has been hand selected for its unique genetic lineage, terpene profile, potency, and nose. Island's new strains are initially available for purchase exclusively at 4Front's Mission Dispensaries in Georgetown, Worcester, and Brookline, and are expected to roll out to partner dispensaries across the Bay State in the coming weeks. Recent Insider Transactions • Sep 09
Insider recently sold CA$167k worth of stock On the 1st of September, Joshua Rosen sold around 255k shares on-market at roughly CA$0.66 per share. This transaction amounted to 1.2% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth CA$358k. Insiders have been net sellers, collectively disposing of CA$3.7m more than they bought in the last 12 months. Recent Insider Transactions • Sep 01
Insider recently sold CA$358k worth of stock On the 24th of August, Joshua Rosen sold around 550k shares on-market at roughly CA$0.65 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$3.4m more than they bought in the last 12 months. Reported Earnings • Aug 16
Second quarter 2022 earnings released: US$0.01 loss per share (vs US$0.011 loss in 2Q 2021) Second quarter 2022 results: US$0.01 loss per share. Revenue: US$28.4m (up 4.9% from 2Q 2021). Net loss: US$6.55m (loss widened 5.3% from 2Q 2021). Over the next year, revenue is forecast to grow 71%, compared to a 26% growth forecast for the Pharmaceuticals industry in Canada. Board Change • Aug 13
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Rob Hunt was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 02
4Front Ventures Corp. to Report Q2, 2022 Results on Aug 15, 2022 4Front Ventures Corp. announced that they will report Q2, 2022 results at 4:00 PM, US Eastern Standard Time on Aug 15, 2022 Announcement • May 18
4Front Ventures Corp. to Report Q1, 2022 Results on May 23, 2022 4Front Ventures Corp. announced that they will report Q1, 2022 results After-Market on May 23, 2022 Announcement • May 14
4Front Ventures Corp. announced delayed 10-Q filing On 05/13/2022, 4Front Ventures Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Apr 27
4Front Ventures Corp. (CNSX:FFNT) completed the acquisition of Island Global Holdings, Inc. 4Front Ventures Corp. (CNSX:FFNT) signed a definitive merger agreement to acquire Island Global Holdings, Inc. on March 30, 2022. The transaction is subject to certain customary closing conditions including approval by target shareholders, target board, acquirer board and certain regulatory approvals. Target board and acquirer board has approved the transaction.The acquisition of Island is expected to close in Q2 2022. Alison Malsbury from Ragghianti Freitas LLP served as legal advisor to Island Global Holdings and Jeffrey A. Scudder from Snell & Wilmer, L.L.P. served as legal advisor to 4Front Ventures Corp.
4Front Ventures Corp. (CNSX:FFNT) completed the acquisition of Island Global Holdings, Inc. on April 26, 2022. Island Founder and CEO, Ray Landgraf, Island COO, Brandon Mills, and the Island leadership team join 4Front's management team as a result of the Transaction. Announcement • Apr 23
4Front Ventures Corp. Announces Board and Committee Changes Effective April 12, 2022, 4Front Ventures Corp.’s Board of Directors (the “Board”) appointed Amit Patel and Robert E. Hunt as members of the Board. Mr. Patel has been Managing Partner of Paceline Partners, which makes investments across multiple industries as well as manages various investment funds, since January 2015. Prior to Paceline Partners, Mr. Patel worked at Houlihan Lokey Inc. for over 15 years. His latest position was as a Managing Director with responsibility for Houlihan Lokey’s principal investment fund until it was spun out in August 2015. From January 2018 to the present, Mr. Hunt has served as Managing Member of Linnaea Holdings, a California based cannabis-focused private equity and operating company hybrid venture. Mr. Patel and Mr. Hunt were elected to serve as directors of the Board, until the Company’s 2022 annual meeting of stockholders and until their successors are elected and qualified or until their earlier resignation or removal. Effective April 25, 2022, the Board accepted David Daily’s resignation from his position as chairman of the audit committee. Mr. Daily will continue to serve as a member of the audit committee, as well as a member of the Board. Also effective April 25, 2022, the Board appointed Mr. Patel as both a member and chairman of its audit committee. Announcement • Apr 14
4Front Ventures Corp., Annual General Meeting, Jun 22, 2022 4Front Ventures Corp., Annual General Meeting, Jun 22, 2022. Announcement • Apr 03
4Front Ventures Corp. announced delayed annual 10-K filing On 04/01/2022, 4Front Ventures Corp. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Reported Earnings • Apr 01
Full year 2021 earnings released: US$0.059 loss per share (vs US$0.12 loss in FY 2020) Full year 2021 results: US$0.059 loss per share (up from US$0.12 loss in FY 2020). Revenue: US$104.6m (up 81% from FY 2020). Net loss: US$34.9m (loss narrowed 42% from FY 2020). Over the next year, revenue is forecast to grow 80%, compared to a 136% growth forecast for the pharmaceuticals industry in Canada. Announcement • Mar 31
4Front Ventures Corp. (CNSX:FFNT) signed a definitive merger agreement to acquire Island Global Holdings, Inc. 4Front Ventures Corp. (CNSX:FFNT) signed a definitive merger agreement to acquire Island Global Holdings, Inc. on March 30, 2022. The acquisition of Island is expected to close in Q2 2022, subject to certain customary closing conditions and approvals. Announcement • Mar 03
4Front Ventures Corp. to Report Q4, 2021 Results on Mar 30, 2022 4Front Ventures Corp. announced that they will report Q4, 2021 results After-Market on Mar 30, 2022 Announcement • Feb 04
4Front Ventures Corp. Announces Management Changes On January 28, 2022, Eric Rey resigned as a member of the Board of Directors (the “Board”) and committees of the Board of the 4Front Ventures Corp. Mr. Rey’s resignation was not in connection with any known disagreement with the Company on any matter relating to the Company’s operations, policies, or practices. Mr. Rey served as the chairman of the Board’s audit committee. As a result of Mr. Rey’s resignation, the Board appointed current Board member David Daily as chairperson of the Company’s audit committee, effective as of February 2, 2022. Announcement • Feb 01
4Front Ventures Corp. (CNSX:FFNT) acquired New England Cannabis Corporation, Inc. from Kenneth V. Stevens for $50.3 million. 4Front Ventures Corp. (CNSX:FFNT) entered into a definitive agreement to acquire New England Cannabis Corporation from Kenneth V. Stevens for $35.6 million on October 6, 2021. Consideration includes cash in the amount of $4,000,000, plus cash in the amount of $2 million as an adjustment on account of the cannabis products and/or inventory transferred from NECC to 4Front between the date hereof and the closing date, minus the amount outstanding under that certain Loan Agreement between NECC and Kenneth V. Stevens in the original principal amount of $675,000 and a promissory note in the initial principal amount of $5,000,000, which will bear interest at an annual rate of 10% and mature on the second anniversary of the closing of the merger and 25 million shares of Class A subordinate voting stock of 4Front with a deemed value of $1.20 per share, or a total valuation of $30 million. The purchase price will be funded through the issuance to the seller of 25 million subordinate voting shares of the company and $25 million of cash. The cash portion will be funded through proceeds raised from a $15 million convertible notes offering, led by Navy Capital, a vendor take back note and balance sheet cash. NECC will continue its corporate existence as a wholly-owned subsidiary of 4Front. The separate corporate existence of NECC will cease. NECC will change its name to New England Cannabis Corporation, Inc. The transaction is subject to receipt of regulatory approval, consummation of the transactions contemplated by that certain membership interest purchase agreement to be entered into by 4Front, Kenneth V. Stevens and Mission Partners RE, LLC and the satisfaction or waiver of customary closing conditions. The transaction is expected to close in the fourth quarter of 2021. Transaction is expected to be significantly accretive to the Company's EBITDA expectations for 2022 and will immediately scale 4Front's presence as a dominant wholesaler and producer in the State. Fort Capital Partners acted as sole financial advisor to 4Front on the Transaction. Evmarc Advisors acted as financial advisor to NECC on the Transaction. Jeremy Shaw from Vicente Sederberg, LLC served as a legal advisor for NECC. Jeffrey A. Scudder from Snell & Wilmer, L.L.P. served as a legal advisor for 4Front. Fasken Martineau DuMoulin LLP acted as legal advisor to 4Front Ventures Corp.
4Front Ventures Corp. (CNSX:FFNT) completed the acquisition of New England Cannabis Corporation from Kenneth V. Stevens on January 31, 2022. Price Target Changed • Jan 19
Price target decreased to CA$2.08 Down from CA$2.25, the current price target is an average from 3 analysts. New target price is 84% above last closing price of CA$1.13. Stock is down 15% over the past year. The company posted a net loss per share of US$0.12 last year. Price Target Changed • Dec 01
Price target decreased to CA$2.17 Down from CA$2.33, the current price target is an average from 3 analysts. New target price is 67% above last closing price of CA$1.30. Stock is up 17% over the past year. The company posted a net loss per share of US$0.12 last year. Reported Earnings • Nov 20
Third quarter 2021 earnings released: US$0.008 loss per share (vs US$0.017 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: US$25.9m (up 70% from 3Q 2020). Net loss: US$4.60m (loss narrowed 48% from 3Q 2020). Board Change • Nov 17
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Independent Director David Daily is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Aug 18
4Front Ventures Corp. announced delayed 10-Q filing On 08/17/2021, 4Front Ventures Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Jul 20
4Front Ventures Corp. Announces Launch of Terp StixTM in Illinois 4Front Ventures Corp. announced the launch of Terp StixTM in Illinois. The company's distillate-infused pre-rolls are now available in one gram singles at the company’s Mission Dispensaries in South Chicago and Calumet City, Illinois for $25.00. 4Front will continue to roll out its Terp StixTM singles to partner dispensaries across the state in the coming weeks and months. The company designed its Terp StixTM singles specifically for cannabis consumers who have a high tolerance using the company's proprietary infusion process to homogenize its high-quality distillate and indoor-grown flower. Terp StixTM pre-rolls deliver a smooth, controlled and canoe-free consumption experience, and are available to Illinois consumers in the following varieties: High Times Cannabis Cup winner Tiger's Blood; Blueberry; Green Apple; Pineapple; Strawberry; and Tangerine.