Marijuana Business Magazine - March 2018

COMPANY NEWS & Recent deals, acquisitions and other announcements from North American cannabis companies Wheelin' Dealin' By Omar Sacirbey U.S. DEVELOPMENTS iAnthus Buys Florida Grower New York-based iAnthus Capital Holdings , an investor in U.S. mari- juana businesses in several states, bought Florida’s GrowHealthy Hold- ings for $30.5 million in stock and $17.5 million in cash. GrowHealthy and its affiliate, McCrory’s Sunny Hill Nursery, hold one of Florida’s 13 medical marijuana business licenses. Separately, iAnthus completed the acquisition of Citiva Medical , one of 10 MMJ licensees in New York, for roughly $18 million. The firm paid $3.6 million in cash plus $14.4 million in iAnthus shares at $2.57 per share for Citiva Medical and a related company, Citiva USA . Citiva USA holds mari- juana-related intellectual property and assets across the United States. The deal had been in the works since last summer, when Citiva was awarded one of a new round of MMJ licenses. New York regulators originally issued only five MMJ business permits. Infused Company Partners With Rose Capital MM Technology Holdings – a developer and distributor of transdermal cannabis patches, patented gel pens, tinctures, topicals and vapes marketed as Mary’s Medicinals cannabis- infused products – is partnering with New York-based Rose Capital to fuel its growth and market expansion. Eying FDA Approval, GW Releases Study Results GW Pharmaceuticals released results from a scientific study that the British company said proves its CBD-based epilepsy medicine, Epidiolex, is effective in treating patients with Lennox- Gastaut Syndrome, a form of epilepsy. The study found that over a 14-week period 44% of study participants saw a “significant reduction” in the number of seizures they suffered. The company hopes the results will spur the U.S. Food and Drug Administration to approve the product for sales later this year. Franwell Gets Colorado Contract Extension Franwell , the Florida developer of the Metrc seed-to- sale tracking system, has received a three-year contract extension from the Colorado Department of Revenue. Hadley Ford, Co-Founder, iAnthus Capital 106 • Marijuana Business Magazine • March 2018