NEW YORK and TORONTO, March 16, 2020 /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, announced today that it is in receipt of a statement of defence and counterclaim filed by Oasis Investments II Master Fund Ltd. (“Oasis”), the holder of an unsecured debenture of the Company in the principal amount of US$25 million (the “Unsecured Debenture”), in the Ontario Superior Court of Justice in connection with the Company’s previously disclosed litigation against Oasis.
Remedies sought by Oasis pursuant to the counterclaim include, among other things, a declaration that iAnthus is in breach of its obligations under the Unsecured Debenture (and related purchase agreement), a declaration that iAnthus has acted in a manner that is oppressive to Oasis, and an order for payment of funds sufficient to repay the Unsecured Debenture, plus any applicable interest, expenses and fees, in full.
iAnthus considers the counterclaim to be entirely without merit and intends to vigorously defend against the counterclaim.
iAnthus 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 a presence in 11 states, and operates 31 dispensaries (AZ-4, MA-1, MD-3, FL-12, NY-3, CO-1, VT-1 and NM-6 where iAnthus has minority ownership). For more information, visit www.iAnthus.com.