4Front Ventures Provides Update on Receivership Proceedings and Board Resignations
4Front Ventures (OTC:FFNTF), a vertically integrated cannabis operator, has provided updates on its ongoing voluntary receivership proceedings and board changes. The company announced that Opus Consulting Partners, LLC, through principal Mr. Jacques Santucci, has been appointed as Receiver for its U.S. subsidiaries by the Massachusetts Superior Court on June 20, 2025.
The Receiver will be responsible for managing and pursuing the orderly sale of the subsidiaries to maximize stakeholder value. Additionally, Stone Blossom Capital LLC has been engaged as a senior strategic consultant. Following these developments and the company's previous bankruptcy filing in Canada, Board Chairman Kris Krane and Director David Daily have resigned effective immediately.
4Front Ventures (OTC:FFNTF), un operatore integrato verticalmente nel settore della cannabis, ha fornito aggiornamenti sulle sue procedure volontarie di amministrazione controllata e sui cambiamenti nel consiglio di amministrazione. La società ha annunciato che Opus Consulting Partners, LLC, tramite il suo rappresentante principale, il Sig. Jacques Santucci, è stata nominata Amministratore Delegato per le sue filiali statunitensi dal Tribunale Superiore del Massachusetts il 20 giugno 2025.
L'Amministratore Delegato sarà responsabile di gestire e perseguire la vendita ordinata delle filiali al fine di massimizzare il valore per gli stakeholder. Inoltre, Stone Blossom Capital LLC è stata ingaggiata come consulente strategico senior. A seguito di questi sviluppi e della precedente richiesta di fallimento della società in Canada, il Presidente del Consiglio Kris Krane e il Direttore David Daily hanno rassegnato le dimissioni con effetto immediato.
4Front Ventures (OTC:FFNTF), un operador verticalmente integrado en cannabis, ha proporcionado actualizaciones sobre sus procedimientos voluntarios de administración judicial y cambios en la junta directiva. La compañía anunció que Opus Consulting Partners, LLC, a través del principal Sr. Jacques Santucci, ha sido designada como Receptor para sus subsidiarias en EE.UU. por el Tribunal Superior de Massachusetts el 20 de junio de 2025.
El Receptor será responsable de gestionar y llevar a cabo la venta ordenada de las subsidiarias para maximizar el valor para los interesados. Además, Stone Blossom Capital LLC ha sido contratada como consultora estratégica senior. Tras estos acontecimientos y la anterior declaración de bancarrota de la empresa en Canadá, el Presidente de la Junta Kris Krane y el Director David Daily han renunciado con efecto inmediato.
4Front Ventures (OTC:FFNTF)는 수직 통합된 대마초 운영업체로서, 자발적 수탁자 절차 및 이사회 변경에 관한 최신 정보를 제공했습니다. 회사는 Opus Consulting Partners, LLC가 주요 책임자인 Jacques Santucci 씨를 통해 2025년 6월 20일 매사추세츠 고등법원에 의해 미국 자회사들의 수탁자로 임명되었다고 발표했습니다.
수탁자는 자회사의 질서 있는 매각을 관리하고 추진하는 책임을 맡아 이해관계자의 가치를 극대화할 예정입니다. 또한 Stone Blossom Capital LLC가 선임 전략 컨설턴트로 참여했습니다. 이러한 발전과 회사의 이전 캐나다 파산 신청에 따라, 이사회 의장 Kris Krane과 이사 David Daily가 즉시 사임했습니다.
4Front Ventures (OTC:FFNTF), un opérateur intégré verticalement dans le secteur du cannabis, a fourni des mises à jour sur ses procédures volontaires de mise sous séquestre et les changements au sein du conseil d'administration. La société a annoncé que Opus Consulting Partners, LLC, par l'intermédiaire de son principal M. Jacques Santucci, a été nommé séquestre de ses filiales américaines par la Cour supérieure du Massachusetts le 20 juin 2025.
Le séquestre sera chargé de gérer et de poursuivre la vente ordonnée des filiales afin de maximiser la valeur pour les parties prenantes. De plus, Stone Blossom Capital LLC a été engagée en tant que consultant stratégique senior. Suite à ces développements et au dépôt de bilan précédent de la société au Canada, le président du conseil Kris Krane et le directeur David Daily ont démissionné avec effet immédiat.
4Front Ventures (OTC:FFNTF), ein vertikal integrierter Cannabisbetreiber, hat Updates zu seinen laufenden freiwilligen Insolvenzverfahren und Änderungen im Vorstand bekannt gegeben. Das Unternehmen gab bekannt, dass Opus Consulting Partners, LLC, vertreten durch den Hauptverantwortlichen Herrn Jacques Santucci, am 20. Juni 2025 vom Obersten Gerichtshof von Massachusetts zum Insolvenzverwalter für seine US-Tochtergesellschaften ernannt wurde.
Der Insolvenzverwalter wird dafür verantwortlich sein, den geordneten Verkauf der Tochtergesellschaften zu verwalten und voranzutreiben, um den Wert für die Stakeholder zu maximieren. Zusätzlich wurde Stone Blossom Capital LLC als leitender strategischer Berater engagiert. Nach diesen Entwicklungen und der vorherigen Insolvenzanmeldung des Unternehmens in Kanada haben Vorstandsvorsitzender Kris Krane und Direktor David Daily mit sofortiger Wirkung ihren Rücktritt erklärt.
- None.
- Company's U.S. subsidiaries entered voluntary receivership for liquidation
- Company filed for bankruptcy in Canada
- Two board members resigned, including the Chairman
- Company assets to be sold through receivership process
As previously announced, on May 22, 2025, all
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
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
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.
FAQ
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