UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report
(Date of earliest event reported): January 12, 2024 (
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective January 8, 2024, Leonid Gontmakher resigned as Chief Executive Officer of 4Front Ventures Corp. (the “Company”). Mr. Gontmakher will remain on the board of directors of the Company as a director and serve as a consultant to the Company.
Effective January 8, 2024, the Company promoted Andrew Thut to Chief Executive Officer of the Company.
Mr. Thut, 50 was an early investor in the Company, and joined the Company full time as Chief Investment Officer in October 2014. He brings to the team a wealth of financial management experience and business acumen having previously served as Managing Director of the BlackRock Small Cap Growth Fund at BlackRock Advisors LLC. During his 11-year involvement with BlackRock Small Cap Growth Fund, the $2 billion fund ranked in the top five percent of all domestic small cap growth funds. He also has held positions at MFS Investment Management and BT Alex Brown. Since joining the Company, he has immersed himself in every facet of the cannabis industry, from the relevant financial drivers of the industry to hands-on experience with dispensaries and cultivation facilities. Mr. Thut holds a Bachelor of Arts from Dartmouth College.
In connection with his appointment, Mr Thut will receive an award of 9 million restricted stock units, 3 million of which shall vest annually. The restricted stock units shall also be subject to a performance trigger, the terms of which will be agreed upon by the Company and Mr. Thut at a later date.
There are no arrangements or understandings between Mr. Thut, and any other person pursuant to which Mr. Thut was selected as an officer of the Company. Mr. Thut does not have any family relationship with any director or executive officer of the Company. There are no related party transactions as of the date hereof between Mr. Thut and the Company that would require disclosure under Item 404(a) of Regulation S-K.
Item 9.01 Exhibits
| Exhibit Number | Description | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: January 12, 2024
| 4FRONT VENTURES CORP. | |
| By: | /s/ Andrew Thut |
| Leonid Gontmakher | |
| Chief Executive Officer | |