4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) announced its third quarter financial results on Monday for the three months ended Sept. 30, 2023, revealing an 18% year-over-year drop in revenue.
However, in Illinois the company’s wholesale revenue nearly tripled over the same period, being up 178% year-over-year and 40% sequentially.
Leo Gontmakher, the company’s CEO, praised its operational results in Illinois, a cannabis market that has been setting records in sales month over month with $139.53 million in September in marijuana products sold. He also commented on the company’s plans for Illinois.
“We are on track to have a total of five operational stores in Illinois by fall 2024, starting with the first new store in Q1 and planning to inaugurate an additional store roughly every two months thereafter,” Gontmakher said. “Locations for two of …