4Front Ventures Corp. announced that it has entered into a $10 million senior secured credit facility agreement with ALT Debt II, LP (the Lender), an affiliate of Altmore Capital. The funds will be disbursed in two tranches and are committed to building out the Company's retail operations in Illinois in connection with the imminent launch of its new cultivation and processing facility in Matteson.

The outstanding principal of the Credit Facility will bear simple interest at a rate per annum equal to the greater of (i) the WSJ Prime Rate plus 7% and (ii) 15.5%, payable monthly (principal payments postponed until six months after funding). Provided the Company extends the maturity of certain other subordinated debt, the maturity date of the Credit Facility will be September 30, 2026. Full details of the transaction are in the Company's filings.