iAnthus Receives Final Court Approval for Amended and Restated Plan of Arrangement

iAnthus Capital Holdings, Inc. (CSE: IAN) (OTCQX: ITHUF), owns, operates and partners with regulated cannabis operations across the United States. The company announces that it has received final approval from the Supreme Court of British Columbia for the Company’s plan of arrangement approved by securityholders on September 14, 2020 to implement the Company’s previously announced recapitalization transaction.

iAnthus owns and operates licensed cannabis cultivation, processing and dispensary facilities throughout the United States. Founded by entrepreneurs with decades of experience in operations, investment banking, corporate finance, law and healthcare services. iAnthus currently has a presence in 11 states and operates 36 dispensaries (AZ-4, MA-1, MD-3, FL-16, NY-3, CO-1, VT-1 and NM-7 where iAnthus has minority ownership).

Securityholder approval and Court approval were the two primary conditions precedent for closing the Recapitalization Transaction, both of which conditions have been satisfied. The closing of the Recapitalization Transaction remains subject to certain other customary closing conditions set out in the previously disclosed Restructuring Support Agreement and the Arrangement Agreement, copies of which are available under the Company’s SEDAR profile at www.sedar.com (and filed on July 20, 2020 and August 6, 2020, respectively).  A copy of the Revised Plan will also be filed under the Company’s SEDAR profile.

Certain of the transactions contemplated by the Recapitalization Transaction may trigger a review and approval requirement by state-level regulators in certain U.S. states with jurisdiction over the licensed cannabis operations of entities owned in whole or in part or controlled directly or indirectly by iAnthus. Where required, iAnthus has either commenced or intends to promptly commence the review and approval process.