PHOENIX, July 30, 2019 /PRNewswire/ -- 4Front Holdings LLC ("4Front") is pleased to provide an operational update on Mission, its branded network of cannabis dispensaries.
As 4Front has pursued its planned business combination with Cannex Capital Holdings Inc. ("Cannex"), which is expected to close on July 31, Mission has continued to build out its portfolio of dispensaries, opening new stores and expanding its reach among medical cannabis patients and soon-to-be adult-use customers.
By the end of the year, Mission is expected to own or operate 11 dispensaries in six states: Arizona, Illinois, Massachusetts, Maryland, Michigan and Pennsylvania.
"As we worked towards closing our deal with Cannex, we remained operationally focused and have continued to execute on our existing retail strategy," said 4Front's CEO Josh Rosen. "Mission President Glenn Backus and the rest of the Mission team have been steadfast in their determination to get our new locations stood up and operational. We are excited to begin working with new patients and consumers to give them the best cannabis experience possible."
Mission Expands Massachusetts Presence, Gets Approval for Adult-Use
Mission has received state approval to serve adult-use customers at its Georgetown dispensary, which will make it the company's first adult-use retail store when it begins serving non-medical customers upon passing final inspection. The Georgetown store, which is roughly 3,000 sq. ft., is a prime retail location for adult-use consumers. It's located adjacent to I-95, close to the New Hampshire border, within the greater metro Boston area, and features significant parking. A recent renovation has significantly enhanced the sales floor and expanded the number of point-of-sale systems from four to 19.
Additionally, Mission in mid-May opened a new medical dispensary in Worcester, the second-largest city in New England, home to nine colleges and a total population of roughly 185,000. The 5,500-square-foot facility is located off I-290 and is 3.5 miles from the city's downtown. It's expected the Worcester dispensary, which is 4Front's third retail location in Massachusetts after Georgetown and Cambridge, will also expand to offer adult-use products and services later this fall.
A 22,000-square-foot cultivation facility (co-located with the Worcester dispensary) has also begun operations with approximately 5,000 sq. ft. of canopy. 4Front anticipates the Worcester cultivation facility should see its first harvest in this year's fourth quarter.
Mission Expands Maryland Presence
On July 24, Mission opened a new medical cannabis dispensary in Rockville, Md. The 2,300-square-foot dispensary is Mission's third location in Maryland and is the result of a recently established licensing relationship with Maryland Alternative Relief Inc., a state-licensed medical cannabis dispensary.
Mission in late April opened its second Maryland location in Hampden, a trendy neighborhood in north Baltimore. The 2,300-square-foot dispensary reflects a licensing relationship between Mission and Chesapeake Integrated Health Institute, a state-licensed medical cannabis dispensary. Mission has been operating in Maryland since October 2018, when it opened its first dispensary in the state inGlenmont/Silver Spring.
Mission expects to open a fourth Maryland dispensary in Catonsville in the fourth quarter of this year.
"Our vision for Mission is to run the best dispensaries for inspiring cannabis customers," said Glenn Backus, President of Mission. "We are passionate about this plant and not only what it can do for patients and consumers, but also for communities. We continue to work tirelessly to create an atmosphere of inclusivity, curiosity and education around cannabis. We are excited to evolve with our customers and patients and look forward to creating one of the country's leading cannabis retail experiences."
About 4Front Holdings
4Front is a cannabis company designed for long-term success and built upon battle-tested operating capabilities, experienced and aligned leadership, a strategic asset base, and a commitment to being a magnet for talent. From plant genetics to the cannabis retail experience, 4Front's team can apply expertise across the value chain. 4Front has invested heavily to assemble a comprehensive collection of management skills and hands-on operating expertise to capitalize on the unique growth opportunity being afforded by the increased legalization of cannabis. For more information, visit the website.
Mission is a different kind of dispensary. We rebuilt the cannabis dispensary and retail experience from the ground up based on an unwavering goal to educate and inspire cannabis customers every day. We deliver on that promise by providing the best-trained staff in the industry, a unique sales floor design that makes it simple to shop, and a product assortment that caters to the consumer. Mission currently operates 10 legal cannabis dispensaries in Arizona, Illinois, Maryland, Massachusetts, Michigan, and Pennsylvania. In 2019, it expects to open several more stores within existing and new markets. For more information, visit missiondispensaries.com.