PHOENIX, Ariz., Oct. 23, 2023 /CNW/ - 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) ("4Front" or the "Company"), a vertically integrated, multi-state cannabis operator and retailer, today announced that in connection with its US$10 million senior secured credit facility agreement (the "Credit Facility") previously reported on October 16th, the Company intends to enter into a restricted stock unit agreement (an "RSU Agreement") with ALT Debt II, LP, an affiliate of Altmore Capital (the "Lender"), to issue a total of 15,900,000 Restricted Share Units ("RSUs") to the Lender. Each RSU will settle into one Class A subordinate voting share (each a "Share") of the Company upon the earliest of certain specified conditions (the "Distribution Event"), each as more fully described in the RSU Agreement. The issue price of the RSUs will be equal to CAD$0.31 per RSU.  If at the time of the Distribution Event, the number of Shares underlying the RSUs is less than 2.12% of the fully diluted Shares (calculated in accordance with the terms of the RSU Agreement) of the Company, an additional number of RSUs will be issuable to the Lender by the Company with respect to the deficiency, each issuable at the closing market price on the Canadian Securities Exchange on the trading day prior to issuance.