iAnthus

MA regulators probing Gotham Green’s cannabis license request, report says

Massachusetts regulators reportedly are looking into whether New York-based private equity firm Gotham Green left out information about the cannabis licenses it controlled in the state as it sought permission to acquire others. New York-based iAnthus, which has been trying to fend off Gotham Green’s attempt to take control of the company, alleged in court […]

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iAnthus receives $11M loan, go-ahead to finish New Jersey cannabis facility

Cannabis multistate operator iAnthus said it has closed on $11 million of financing to complete a build-out and improvements of a cultivation and processing facility in New Jersey. The facility is the subject of litigation between MPX New Jersey and iAnthus, which said in a statement it received permission from a New Jersey court on […]

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MPX, iAnthus tangle in NJ court as adult-use marijuana launch draws near

A judge issued a preliminary ruling in favor of a New Jersey medical marijuana company in its legal tangle with New York-based multistate operator iAnthus. MPX NJ, which received one of only 12 vertical MMJ licenses in the state, sued iAnthus last week, claiming iAnthus has tried to take control of its operations, including construction […]

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Impending adult-use marijuana program will test ‘made in Vermont’ ethos

Vermont’s new recreational cannabis program is projected to generate roughly $250 million in annual sales by the middle of the decade, but homegrown companies might find themselves pitted against larger out-of-state businesses. Three medical cannabis businesses – including multistate operators Curaleaf and iAnthus Capital Holdings – are poised to take advantage of a five-month head […]

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Marijuana firm iAnthus gets Canadian court approval for restructuring plan

A British Columbia court has approved a revised restructuring plan for iAnthus Capital Holdings, a week after declining to sign off on a previous plan. In reasons for judgment issued Monday, Supreme Court of British Columbia Justice Geoffrey Gomery said iAnthus had narrowed the scope of a release of claims and eliminated a permanent injunction […]

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Canadian court rejects cannabis firm iAnthus’ restructuring plan for now

Troubled multistate marijuana operator iAnthus Capital Holdings said a deadline to reach a restructuring and recapitalization deal has been extended after a Canadian court declined to approve a plan of arrangement for the reorganization. At issue is a form of release of claims between the New York-based cannabis operator and its secured and unsecured noteholders, […]

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Struggling marijuana MSO iAnthus loses Chief Strategy Officer Stavola

Beth Stavola resigned as chief strategy officer and board director for troubled multistate cannabis operator iAnthus Capital Holdings. The company did not expound on the resignation of Stavola, who previously served as a senior vice president at Wall Street firm Jefferies & Co. before joining MPX Bioceuticals. MPX merged with iAnthus in 2018. Stavola is […]

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Struggling marijuana firm iAnthus plans restructuring deal, recapitalization

Multistate cannabis grower and retailer iAnthus Capital Holdings announced a restructuring support deal with a recapitalization component, giving the company an opportunity to reduce its outstanding debt. The New York-based company with offices in Toronto received a demand for repayment on its secured debentures in June after defaulting on interest payments. After a strategic review, […]

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Massachusetts cannabis grow facility workers unionize

Employees at a cannabis cultivation facility in Massachusetts voted to unionize, a further indication that organized labor is picking up steam since the coronavirus pandemic. Workers at Mayflower Medicinals in Holliston Massachusetts, voted to join the United Food and Commercial Workers Union Local 1445, according to the Worcester Business Journal. Mayflower is owned by New […]

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Cannabis firm iAnthus receives demand for debt repayment

Multistate cannabis operator iAnthus Capital Holdings received a demand for repayment on a secured debenture issuance as well as a notice of intention to enforce security under Canadian bankruptcy law. New York-based iAnthus defaulted on interest payments on that debt in April and expects to default on payments again at the end of June. The […]

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Cannabis firm iAnthus says it likely will default on interest payments again

Multistate marijuana operator iAnthus said it expects to default on interest payments due June 30 and likely will delay its quarterly earnings past an extended June 15 deadline – a move that could result in a stock trading suspension. The New York-based company, which has partly blamed the coronavirus crisis on filing delays, also said […]

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Week in Review: Cannabis firm iAnthus’ CEO resigns, High Times’ retail move, IL delays adult-use marijuana licensing & more

New York-based multistate marijuana operator iAnthus’ CEO Hadley Ford stepped down after the company’s internal investigation found he should have disclosed personal loans that constituted a “potential or apparent” conflict of interest. MJBizDaily takeaway: The iAnthus case is a reminder to publicly held cannabis companies of the importance of transparent disclosures and strict adherence to conflict-of-interest […]

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