4Front Ventures Announces Withdrawal of Brokered Offering and Appointment of New Board Chair

PHOENIX, July 5, 2024 ~ 4Front Ventures Corp. Withdraws Brokered Offering and Appoints New Chair of the Board

In a recent announcement, 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) revealed that it has decided to withdraw its previously announced brokered offering, which was initially disclosed on June 26th. The decision was made after a thorough evaluation of the current market conditions, including recent controversies surrounding the federal regulatory outlook.

The vertically integrated and multi-state cannabis operator and retailer also shared that Kris Krane, a current director of the company, has been appointed as the new Chair of the Board. This change in leadership comes as Robert Hunt departs from his position on the Board. Krane brings extensive experience in the cannabis industry, having previously served as President of 4Front and playing a crucial role in its growth and development.

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With a background as a regulatory and business strategist, Krane is well-versed in the industry and is a frequent speaker at cannabis conferences worldwide. He has also held positions such as Associate Director of the National Organization for the Reform of Marijuana Laws (NORML) and Executive Director of Students for Sensible Drug Policy. Additionally, he is Chair Emeritus of the National Cannabis Industry Association Board of Directors.

Krane's appointment aligns with 4Front's strategic focus on growth in Illinois, where he resides. The company believes that his deep industry knowledge and local presence will be valuable assets in driving their expansion plans in the state.

The departure of Mr. Hunt from his position on the Board is not due to any known disagreement with the company regarding its operations, policies or practices, including accounting principles and practices. 4Front remains committed to maintaining strong leadership and continuing its growth trajectory in the ever-evolving cannabis industry.
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