4Front Ventures Corp. (CSE: FFNT), Bankruptcy

4Front Ventures Corp. (CSE: FFNT), a vertically-integrated cannabis operator with operations in Illinois and Massachusetts and facilities in Washington, filed an assignment in bankruptcy on June 10 in British Columbia after all its US subsidiaries filed for a voluntary receivership in the US.

The company, which was founded in 2011, lists $103.2 million in liabilities, including $40.3 million to LI Lending LLC, $13.7 million to GGG Partners LLC as collateral agent for Alt Debt II LLP, $13.5 million to Navy Capital Green Co-Invest Fund LLC and $11.8 million to Navy Capital Green Fund LP.

4Front filed for receivership in the US on May 22, citing its significant liabilities coupled with a lack of available financing for operations. It has now filed for bankruptcy in Canada. 

B. Riley Farber is the bankruptcy trustee.