4Front Ventures Holds 2024 Annual Shareholders Meeting and Reports Voting Results

4Front Ventures Corp. recently held its 2024 annual general and special meeting of shareholders where several proposals were put forth for voting. Shareholders had the opportunity to vote on matters as outlined in the Company’s definitive proxy statement filed earlier with the U.S. Securities and Exchange Commission.

As of the Record Date on August 19, 2024, the Company had 913,923,993 Class A Subordinate Voting Shares (SVS) and 1,276,208 Class C Multiple Voting Shares (MVS) outstanding. Holders of SVS were entitled to one vote per proposal, while MVS holders were granted 800 votes per proposal. Both SVS and MVS holders combined as a single class for voting purposes.

The voting results of the four proposals presented at the meeting are as follows:

– Proposal One – Setting the Number of Directors: Shareholders unanimously approved the proposal to set the number of directors of the Company at five.

– Proposal Two – Election of Directors: Each of the nominated individuals, including David Daily, Leonid Gontmakher, Chetan Gulati, Kristopher Krane, and Roman Tkachenko, were elected to serve as directors until the next annual general meeting or the appointment of their successors.

– Proposal Three – Appointment of Auditor: Shareholders voted in favor of appointing Davidson & Company LLP as the Company’s auditor for the fiscal year ending December 31, 2024, and authorizing the directors to determine their remuneration.

– Proposal Four – Approval of Restricted Equity Plan: Shareholders approved the ratification of the Company’s restricted equity plan, allowing for the issuance of up to 100,000,000 restricted share units or restricted stock agreements.

With substantial shareholder participation and approval across all proposals, 4Front Ventures Corp. demonstrates confidence and support from its investor base in the strategic decisions and governance procedures of the company.

The voting outcomes signify a positive direction for 4Front Ventures, reflecting continued trust and alignment between the Company and its shareholder community.

This report confirms the successful conduct of the 2024 annual general and special meeting and the resulting approvals of the proposed agenda items.

The report is duly submitted on behalf of 4Front Ventures Corp by Chief Executive Officer, Andrew Thut, on October 31, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read 4Front Ventures’s 8K filing here.

About 4Front Ventures

4Front Ventures Corp. owns and manages licensed cannabis facilities in state-licensed markets in the United States. The company operates through THC Cannabis and CBD Wellness segments. THC Cannabis segment engages in the cultivation, production, manufacturing, and distribution of THC cannabis products to owned dispensaries and third party retailers; and provision of ancillary services.