iAnthus Receives Demand for Payment and Notice of Intention to Enforce Security

iAnthus Capital Holdings, Inc. (CSE: IAN) (OTCQX: ITHUF) owns, operates, and partners with regulated cannabis operations across the United States. The company announces that Gotham Green Admin 1, LLC, as collateral agent holding security for the benefit of the holders of the Company’s 13.0% Senior Secured Debentures, has provided the Company and its wholly-owned subsidiary, MPX Bioceutical ULC, with a demand for repayment under the Amended and Restated Secured Debenture Purchase Agreement dated October 10, 2019 of the entire principal amount, together with interest, fees, costs and other allowable charges that have accrued or may accrue in accordance with the Purchase Agreement and the other Transaction Agreements. The Collateral Agent also concurrently provided both the Company and MPX with a Notice of Intention to Enforce Security (the “BIA Notices”) under section 244 of the Bankruptcy and Insolvency Act (Canada). Pursuant to section 244 of the BIA, the Collateral Agent shall not enforce the security over the collateral granted by the Company and MPX until the expiry of 10 days after sending the BIA Notices unless the Company and MPX consent to an earlier enforcement of the security.  The Company and MPX do not intend to consent to earlier enforcement and are exploring available options.

iAnthus owns and operates 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 healthcare services, iAnthus provides a unique combination of capital and hands-on operating and management expertise. iAnthus currently has a presence in 11 states and operates 35 dispensaries (AZ-4, MA-1, MD-3, FL-16, NY-3, CO-1, VT-1 and NM-6 where iAnthus has minority ownership).