April 21, 2023 – iAnthus Capital Holdings, Inc. (“iAnthus” or the “Company“) (CSE: IAN) (OTCPK: ITHUF), which owns, operates and partners with regulated cannabis operations across the United States, announces that John Paterson has been appointed to the board of directors of the Company (the “Board“) and the Audit Committee of the Board, effective April 20, 2023.

Mr. Paterson is currently owner and member of the board of one of Canada’s largest privately owned diagnostic imaging companies.  Mr. Paterson began his professional career as a commercial lawyer in Toronto and Singapore, before transitioning into the finance industry where he was employed by a Wall Street-based investment bank as an executive in its principal finance and credit businesses in the United Kingdom, Brazil and various countries throughout Asia.  Following his tenure with the Wall Street investment bank, Mr. Paterson worked in an advisory role to a prominent bank in Canada as well as to a large pension fund.  Mr. Paterson has extensive experience in business and financial restructurings, mergers and acquisitions, corporate financings and business strategy and has been advising on restructuring and direct investment transactions in the cannabis industry in the United States since 2019.

Pursuant to the Investor Rights Agreement, dated June 24, 2022, by and among the Company, iAnthus Capital Management, LLC, a wholly-owned subsidiary of the Company, and certain Investors (as defined therein), Mr. Paterson was nominated as a replacement director for Marco D’Attanasio by the Investor that initially nominated Mr. D’Attanasio.  As previously disclosed, Mr. D’Attanasio resigned from the Board, effective September 15, 2022.  A copy of the Investor Rights Agreement is available on the Company’s SEDAR profile at www.sedar.com and the U.S. Securities and Exchange Commission’s (“SEC’s”) website at www.sec.gov.

About iAnthus

iAnthus owns and operates licensed cannabis cultivation, processing and dispensary facilities throughout the United States. For more information, visit www.iAnthus.com.