Single Class of Securities puts all Shareholders on Equal Footing
NEW YORK, Sept. 24, 2019 /PRNewswire/ – iAnthus Capital Holdings, Inc. (“iAnthus” or the “Company”) (CSE: IAN) (OTCQX: ITHUF), which owns, operates, and partners with best-in-class regulated cannabis operations across the United States, announces the Company’s Board of Directors has resolved to cause the conversion of all of the issued and outstanding Class A Convertible Restricted Voting Shares (the “Class A Shares”) of the Company to common shares. The conversion of 13.56 million Class A shares into 13.56 million Common shares has been completed and filed as required with SEDI. There are no remaining Class A share outstanding.
We believe that all our shareholders are well served by transparency. With this change, we are effectively eliminating our dual class equity structure with different voting rights and moving to one class of common.
Hadley Ford, CEO
Mr. Ford further stated: “Unlike multiple voting share structures which are prolific in the industry and aggregate voting power in the hands of certain controlling shareholders, our capital structure is simple. Specifically, all the Class A Shares were converted to common shares in an even exchange and the shareholders have the same voting power per each common share held. We believe this structure is simple and easier for shareholders to understand and will clearly align all shareholders by having all shareholders owning the same class.”
About iAnthus Capital Holdings, Inc.
iAnthus Capital Holdings, Inc. owns and operates best-in-class licensed cannabis cultivation, processing and dispensary facilities throughout the United States, providing investors diversified exposure to the U.S. regulated cannabis industry. Founded by entrepreneurs with decades of experience in operations, investment banking, corporate finance, law and health care services, iAnthus provides a unique combination of capital and hands-on operating and management expertise. iAnthus currently has operations in 11 states, and operates 27 dispensaries (FL-9, AZ-4, MA-1, MD-3, NY-2, CO-1, VT-1 and NM-6 where iAnthus has minority ownership). For more information, visit www.iAnthus.com.