Cannabis News for Florda
iAnthus Capital Holdings, Inc. (“iAnthus” or the “Company”) (CSE: IAN) (OTCPK: ITHUF), which owns, operates and partners with regulated cannabis operations across the United... iAnthus Provides Update on Court Application

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, provides an update on the Secured Noteholders’ application (the “Application“) iAnthus previously announced via news release on August 27, 2021 (the “August News Release“).

The Application was heard by the Honourable Mr. Justice Penny of the Ontario Superior Court of Justice (Commercial List) (the “Court“) on September 23, 2021.  At the conclusion of the hearing, Justice Penny reserved his decision and extended and supplemented the terms of the stay the Honourable Mr. Justice Hainey previously ordered on August 24, 2021 (as supplemented, the “Stay“).  The Stay will remain in place from September 23, 2021 until forty-eight (48) hours after the release of Justice Penny’s decision on the merits of the Application, unless otherwise agreed to by the parties to the Application or ordered by the Court.

Pursuant to the Stay the parties are to maintain the status quo. In particular, without further order of the Court: 

a)except to the extent provided for in paragraphs (b) and (c) below, the parties remain bound by the covenants and other terms and conditions of the restructuring support agreement dated July 10, 2020, as amended (the “RSA“);
b)no party may terminate the RSA;
c)no party to the RSA nor any of their respective representatives may take any step to advance or impede the regulatory process for the closing of the transactions contemplated by the RSA, or otherwise have any communication with the applicable state-level regulators concerning the transactions contemplated by the RSA or the other counterparties that are parties thereto. Notwithstanding the foregoing, nothing in this paragraph shall prohibit the parties from advising applicable state-level regulators where approvals remain pending, of the terms of this endorsement; and
d)nothing in Justice Penny’s order shall bind any non-party to the Application, including any applicable state-level regulator.

In the event that any applicable state-level regulator contacts a party to the Application with a request for information, the party should advise Justice Penny of the request and seek leave to respond, on notice to the other parties.

A copy of the August News Release is available under iAnthus’ SEDAR profile at www.sedar.com and under the Company’s profile on the US Securities and Exchange Commission’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.

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