iAnthus Capital Holdings, Inc. (“iAnthus” or “the Company”),
(CSE:IAN) (OTCQB:ITHUF), which owns, operates, and partners
with licensed cannabis operations throughout the United States, is
pleased to announce that its 100% owned subsidiary Citiva Medical,
LLC (“Citiva”), which holds one of the ten vertically integrated
medical marijuana "Registered Organization" licenses issued by New
York State, has signed a lease for its flagship dispensary in
Brooklyn, New York. The Company also announces that its 100% owned
subsidiary GrowHealthy Holdings, LLC (“GrowHealthy”), which along
with its affiliate, McCrory's Sunny Hill Nursery, LLC ("McCrory's")
comprise one of just thirteen (13) current Florida Medical
Marijuana Treatment Centers ("MMTCs") licensed to provide medical
cannabis under Florida's medical marijuana law, has signed a lease
for a dispensary location in Tampa, Florida.
Citiva’s Brooklyn dispensary, located at 202
Flatbush Avenue, will be just across the street from Barclays
Center, one of the borough’s most highly trafficked areas.
Build-out of the 2,000 sq. ft. dispensary is expected to be
completed in Q4 2018. Once open, it will be one of only two
dispensaries operating in Brooklyn, New York City’s most populous
borough.
GrowHealthy’s dispensary in Tampa will be the
Company’s second location in Florida, with the other being
GrowHealthy’s flagship location in Palm Beach County. The Tampa
location is expected to open in Q3 2018, and will be located in a
2,100 sq. ft. free standing building sitting at the intersection of
a heavily trafficked highway and state road. The dispensary is in a
densely populated area of Tampa, close to other commercial shopping
destinations.
“Following our recent acquisitions of Citiva and
GrowHealthy, we are excited to close in on the new dispensary
locations and begin their respective build-outs,” said Hadley Ford,
CEO of iAnthus. “Through Citiva in New York and GrowHealthy in
Florida, we have a significant presence in two of the largest
markets on the East Coast.”
In addition to the Company’s dispensary
announcements, iAnthus announces that it has received US$2 million
of principal repayment and US$0.9 million of accrued interest in
early February from The Green Solution (“TGS”), a Colorado-based
dispensary chain. iAnthus and TGS have mutually agreed to an
extension for the remaining US$5.5 million of credit facility until
July 31, 2018, with an interest rate of 23%. Under the amended
credit facility, TGS is required to make principal repayments with
accrued interest in April and July 2018.
Additional information about iAnthus may be
accessed on the Company’s website at www.iAnthusCapital.com and
under the Company’s SEDAR profile at www.sedar.com.
About iAnthus Capital Holdings, Inc.
iAnthus Capital Holdings, Inc. owns and operates
best-in-class licensed cannabis cultivation, processing and
dispensary facilities throughout the United States, providing
investors diversified exposure to the U.S. regulated cannabis
industry. Founded by entrepreneurs with decades of experience in
operations, investment banking, corporate finance, law and health
care services, iAnthus provides a unique combination of capital and
hands-on operating and management expertise. The Company uses these
skills to support operations across six states. For more
information, visit www.iAnthusCapital.com.
Forward Looking Statements
Statements in this news release that are
forward-looking statements are subject to various risks and
uncertainties concerning the specific factors disclosed here and
elsewhere in iAnthus' periodic filings with Canadian securities
regulators. When used in this news release, words such as "will,
could, plan, estimate, expect, intend, may, potential, believe,
should," and similar expressions, are forward-looking
statements.
Forward-looking statements may include, without
limitation, statements including dispensary locations and
build-outs, credit facility payments, and other statements of
fact.
Although iAnthus has attempted to identify
important factors that could cause actual results, performance or
achievements to differ materially from those contained in the
forward-looking statements, there can be other factors that cause
results, performance or achievements not to be as anticipated,
estimated or intended, including, but not limited to: dependence on
obtaining regulatory approvals; investing in target companies or
projects which have limited or no operating history and are engaged
in activities currently considered illegal under US Federal laws;
change in laws; limited operating history; reliance on management;
requirements for additional financing; competition; hindering
market growth and state adoption due to inconsistent public opinion
and perception of the medical-use and adult-use marijuana industry
and; regulatory or political change.
There can be no assurance that such information
will prove to be accurate or that management's expectations or
estimates of future developments, circumstances or results will
materialize. As a result of these risks and uncertainties, the
results or events predicted in these forward-looking statements may
differ materially from actual results or events.
Accordingly, readers should not place undue
reliance on forward-looking statements. The forward-looking
statements in this news release are made as of the date of this
release. iAnthus disclaims any intention or obligation to update or
revise such information, except as required by applicable law, and
iAnthus does not assume any liability for disclosure relating to
any other company mentioned herein.
The Canadian Securities Exchange has not
reviewed, approved or disapproved the content of this news
release.
This news release does not constitute an offer
to sell or a solicitation of an offer to sell any of the securities
in the United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”) or any state securities laws
and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
CONTACT INFORMATION
Corporate: Julius KalcevichChief Financial OfficeriAnthus
Capital Holdings, Inc. 646-518-9418 Investors@iAnthusCapital.com US
Investors: Phil Carlson / Elizabeth Barker KCSA Strategic
Communications iAnthus@KCSA.com
Canadian Investors: Nicole Marchand Nicole Marchand Investor
Relations Nicole@nm-ir.com
Media: Robert Vanisko North 6th Agency 212-334-9753 ext.112
iAnthus@n6a.com
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