iAnthus Boosts Stock Sale to $34.5 Million as Underwrites Exercise Overallotment Option

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iAnthus Announces Closing of $34.5 Million Bought Deal Financing

TORONTO and NEW YORK, Oct. 10, 2018 /CNW/ – iAnthus Capital Holdings, Inc., (CSE: IAN) (“iAnthus” or the “Company”), is pleased to announce that it closed its previously announced bought deal offering of 5,188,800 common shares of the Company (the “Common Shares”) at a price of $6.65 per Common Share (the “Offering Price”) for aggregate gross proceeds to the Company of $34,505,520 (the “Offering”).

The syndicate for the Offering was led by GMP Securities L.P. and included Canaccord Genuity Corp., Cormark Securities Inc., Beacon Securities Limited, Echelon Wealth Partners Inc. and PI Financial Corp (together, the “Underwriters”).

The number of Common Shares sold by iAnthus included an aggregate of 676,800 Common Shares offered and sold pursuant to an over-allotment option granted to the Underwriters that was exercised in full prior to closing.

The Common Shares in the Offering were offered and sold by way of a short form prospectus filed in each of the provinces of Canada, excluding the province of Québec.

We continue to remain opportunistic in all aspects of our business operations at iAnthus, and this capital raise helps facilitate that.

Hadley Ford, CEO of iAnthus

As we look to further build out our multi-state retail operation and pursue strategic acquisition targets in additional states, we are well equipped to make the investments needed to support strong growth opportunities.

The Company intends to use the net proceeds from the Offering for capital expenditures for capacity expansion, working capital and general corporate requirements.

The Common Shares issued pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

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. The Company uses these skills to support operations across six states. For more information, visit www.iAnthusCapital.com.

Original Press Release

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