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Tuesday, August 3, 2021

Health for Life; Grow Healthy; the Run on iAnthus Capital Holdings Inc (CNSX: IAN) (OTCMKTS: ITHUF)

iAnthus Capital Holdings Inc (CNSX: IAN) (OTCMKTS: ITHUF) is making a powerful run up the charts in recent months going from illiquid to a mover and shaker and top traded stock in small caps. Despite very challenging conditions for the Company, the iAnthus team has its hard hats on and is , putting in place the foundation for rapid growth going forward with continued significant investments in scaling operation. Marijuana and CBD stocks are on the rise in recent months as New Jersey, Arizona, Montana and South Dakota legalize cannabis for recreational use. Also the house just passed sweeping legislation that would decriminalize marijuana and expunge nonviolent marijuana-related convictions although the bill is unlikely to pass.

iAnthus Capital Holdings Inc (CNSX: IAN) (OTCMKTS: ITHUF) 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. 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). Melting Point Extracts (MPX) is iAnthus award-winning cannabis brand, devoted to providing the cleanest and most effective products possible. MPX specializes in Hydrocarbon, CO2, and solvent-free extractions to provide a diverse line of high-quality products including live resin concentrates, wax, sauce, and diamonds.

Through its subsidiaries, the Company currently owns and/or operates 35 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. iAnthus is building a significant competitive advantage through best-in-class operations. The Company is rapidly progressing on its  long-term plan to install over half-a-million square feet of cultivation at its Lake Wales, Florida, campus. And across its businesses iAnthus is combining scale with standardized systems and detailed performance metrics to deliver increasingly efficient operations.

The Company has grown through acquisition acquiring the U.S. operations of MPX Bioceutical Corporation as well as the assets and liabilities of CBD For Life, a top-ranked, national CBD brand. iAnthus further strengthened its foothold in Nevada with 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.

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ITHUF

The Company announced on November 5, 2020 that a Notice of Appeal had been filed in respect of the Supreme Court of British Columbia’s final approval of the plan of arrangement to implement the Company’s previously announced recapitalization transaction.  The Company filed a Notice of Appearance with respect to the appeal on November 12, 2020.  On November 30, 2020, the Company made a request of the British Columbia Court of Appeal that the appeal be heard on an expedited basis.  The Company does not yet have any decision from the British Columbia Court of Appeal with respect to the Company’s request.

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.

On December 8 the Company filed a Form 10 Registration Statement with the SEC to register its common stock under Section 12 of the Securities Exchange Act of 1934. Once the Form 10 goes effective, which, unless withdrawn, will be on February 6, 2021, iAnthus will be subject to the reporting requirements of the Exchange Act, which includes filing annual, quarterly, and current reports, as well as annual proxy statements with the SEC.

https://twitter.com/griffpatriot/status/1336355943295184898

 

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iAnthus Capital is making a powerful run up the charts in recent months going from illiquid to a mover and shaker and top traded stock in small caps. Despite very challenging conditions for the Company, the iAnthus team has its hard hats on and is , putting in place the foundation for rapid growth going forward with continued significant investments in scaling operation. Once the Form 10 goes effective, which will be on February 6, 2021, iAnthus will be subject to the reporting requirements of the Exchange Act, which includes filing annual, quarterly, and current reports, as well as annual proxy statements with the SEC. 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.. On November 30, 2020, iAnthus made a request of the British Columbia Court of Appeal that the appeal be heard on an expedited basis.   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.

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