NEW YORK and TORONTO, March 11, 2024 – iAnthus Capital Holdings, Inc. (“iAnthus” or the “Company”) (CSE: IAN) (OTCQB: ITHUF), which owns, operates and partners with regulated cannabis operations across the United States, announces the resignation of John Paterson from its Board of Directors (the “Board”), effective immediately.
Mr. Paterson joined the Company on April 20, 2023. “Speaking on behalf of the entire iAnthus team, we thank John for his valuable contributions to the Company and wish him future success,” said Richard Proud, Chief Executive Officer of the Company. Mr. Paterson added: “It has been a pleasure working with the entire iAnthus team and I wish the Company nothing but the best for the future.”
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), the Investor who nominated Mr. Paterson is entitled to designate a successor nominee for appointment to the Board, and the Company is required to cause such nominee to be appointed to the Board. As of the date hereof, such Investor has not nominated a successor nominee, and the Company has not appointed a replacement for Mr. Paterson. A copy of the Investor Rights Agreement is available on the Company’s SEDAR+ profile and the U.S. Securities and Exchange Commission’s (“SEC’s”) website at www.sec.gov.
iAnthus owns and operates licensed cannabis cultivation, processing and dispensary facilities throughout the United States. For more information, visit www.iAnthus.com.
