iAnthus Capital Holdings Inc (OTCMKTS: ITHUF) is making an explosive move up the charts as pot stocks heat up across the board and light the OTC on fire! This is the time of year when pot stocks get hot and this election cycle looks to be no different with iAnthus rising quickly off its lows this week.
ITHUF is coming off its all-time lows and is trading a far cry from its highs of $7.27 USD in 2018, a run that Miroapdaily reported on. Currently running northbound in a hurry ITHUF has got the attention of investors as we head into another pot stock boom!
iAnthus Capital Holdings Inc (OTCMKTS: ITHUF) is one of the largest Multi-State Operators in the United States, providing investors with diversified exposure to the regulated cannabis industry. The Company develops, owns, and operates, what it believes to be, the best-in-class licensed cannabis cultivation, processing, and dispensary facilities, and the Company offers innovative branded cannabis and cannabidiol (“CBD”) products in the United States.
Through its subsidiaries, the Company currently owns and/or operates 27 dispensaries and 13 cultivation/processing facilities throughout the United States and distributes cannabis and CBD products to over 200 dispensaries and 1,500 retail stores, respectively. Under the Company’s existing licenses, interests, and contractual arrangements, the Company has the capacity to own and/or operate up to 68 dispensaries and up to 15 cultivation/processing facilities, and manufacture and/or distribute its cannabis products in 11 states with an aggregate population of approximately 121 million.
Incorporated in British Columbia, Canada in 2014, the Company became the first licensed multi-state cannabis operator in the United States to publicly trade on the Canadian Securities Exchange (the “CSE”) in 2016. iAnthus’ multi-state operations encompass the full spectrum of medical and adult-use cannabis enterprises, including cultivation, processing, product development, wholesale-distribution, and retail. The Company’s product offerings include flower (smokable flower and pre-rolls), concentrates (vaporizer cartridges, wax products, tinctures, topicals, etc.), cannabis infused edibles, as well as a full suite of CBD products.
The Company has grown through acquisition acquiring the U.S. operations of MPX Bioceutical Corporation. On June 28, 2019, the Company acquired the assets and liabilities of CBD For Life, LLC a top-ranked, national CBD brand. iAnthus further strengthened its foothold in Nevada with the announcement of the acquisition of WSCC, Inc., a leading Northern Nevada operator with two dispensaries in Reno and Carson City, two cultivation facilities, and one production and manufacturing facility. Since announcing the Urban Outfitters relationship in mid-April 2019, the retailer has expanded the lineup of CBD For Life products it carries and the number of retail locations in which it offers them.
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Earlier this year ITHUF entered into a Restructuring Support Agreement (as defined below) with 100% of its Secured Lenders and over 91% of the Unsecured Debentureholders (as defined below) to effect a proposed recapitalization transaction, as well as provide Interim Financing (as defined below) of $14 million.
The Recapitalization Transaction is expected to significantly reduce the Company’s outstanding indebtedness and annual interest costs, improve its capital structure and liquidity, and result in an enhanced financial foundation for the Company. Assuming completion of the Recapitalization Transaction, the Company’s pro forma outstanding indebtedness will be reduced from $168.7 million (excluding fees and accrued and unpaid interest thereon) as at June 30, 2020 to $101.4 million (excluding $20 million of Preferred Equity.
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ITHUF is making an explosive move up the charts as pot stocks heat up across the board and light the OTC on fire! This is the time of year when pot stocks get hot and this election cycle looks to be no different with iAnthus rising quickly off its lows this week. Currently running northbound in a hurry ITHUF has got the attention of investors as we head into another pot stock boom! ITHUF is quickly establishing itself as a serious player in the recreational cannabis sector with $27 million in the treasury and $22 millioin in revenues for the 3 months ended September 30, 2019. The iAnthus team had its hard hats on during the last quarter, putting in place the foundation for rapid growth going forward with continued significant investments in scaling operation. Microcapdaily reported on the last ITHUF run and we will be covering this one. We will be updating on ITHUF when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with ITHUF.
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Disclosure: we hold no position in ITHUF either long or short and we have not been compensated for this article.