iAnthus

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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Marijuana firm iAnthus’ CEO steps down after investigation into undisclosed personal loans

Hadley Ford resigned as CEO and a director of multistate cannabis operator iAnthus after a company investigation found he failed to disclose two loans totaling $160,000 in what was determined a “potential or apparent” conflict of interest. The announcement Monday comes in the wake of New York-based iAnthus defaulting on a $4.4 million interest payment […]

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Regulators temporarily halt trading of marijuana firm iAnthus’ stock

Canadian securities regulators halted the trading of iAnthus stock for nearly four hours Wednesday as they sought information from the multistate cannabis operator about reports related to its difficult financial situation. In a news release, New York-based iAnthus attributed the trading suspension on the Canadian Securities Exchange to a request for information about online “speculative” […]

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Union takes action against iAnthus marijuana subsidiary in MA

A labor union filed a complaint with Massachusetts regulators alleging that multistate cannabis operator iAnthus Capital Holdings violated state law. In its filing to the state Department of Labor Relations, Local 1445 of the United Food and Commercial Workers Union said New York-based iAnthus issued written warnings to two pro-union employees at a cannabis cultivation […]

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