iAnthus to Raise C$30 Million Selling Shares at C$6.65

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iAnthus Capital Holdings, Inc. Announces $30 Million Bought Deal Financing

TORONTO, Sept. 13, 2018 (GLOBE NEWSWIRE) — iAnthus Capital Holdings, Inc. (CSE: IAN) (“iAnthus” or the “Company”) announced today that it has entered into an agreement with a syndicate of underwriters led by GMP Securities L.P. (the “Lead Underwriter” and, collectively with the syndicate, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis subject to the filing of a short form prospectus, 4,512,000 common shares (the “Common Shares”) of the Company at a price of $6.65 per Common Share (the “Offering Price”) for aggregate gross proceeds to iAnthus of $30,004,800 (the “Offering”).

The Company has granted the Underwriters an over-allotment option to purchase up to an additional 676,800 Common Shares at the Offering Price, exercisable in whole or in part, at any time, and from time to time, on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full for additional Common Shares, an additional $4,500,720 million in gross proceeds will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be $34,505,520 million.

The Common Shares will be offered by way of a short form prospectus to be filed in all provinces of Canada (except Quebec). The Company intends to use the net proceeds from the Offering for capital expenditures for capacity expansion, working capital and general corporate requirements. The Offering is expected to close on October 3, 2018 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Canadian Securities Exchange and the applicable securities regulatory authorities.

The securities being offered have not been, nor will they 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 press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall 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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