iAnthus Capital Holdings, Inc. (“iAnthus” or the “Company”) (CSE: IAN) (OTCPK: ITHUF), which owns, operates and partners with regulated cannabis operations across the United Statesprovides an update with respect to the Company’s Annual General Meeting. As disclosed in the Company’s news release dated June 16, 2021, the BC Registrar of Companies (the “BC Registrar“) granted a further extension extending the deadline to hold the Company’s Annual General Meeting for the year 2020 (the “2020 AGM“) from June 30, 2021 to October 31, 2021. The BC Registrar has granted the Company a further two-month extension extending the deadline to hold the 2020 AGM from October 31, 2021 to December 31, 2021.
The Company also provides an update on its recapitalization transaction (the “Recapitalization Transaction“). As previously disclosed, securityholder approval and Court approval were two of the primary conditions for closing the Recapitalization Transaction, both of which conditions have been satisfied. The closing of the Recapitalization Transaction remains subject to certain closing conditions as set forth in the Restructuring Support Agreement dated July 10, 2020, as amended (the “RSA“).
Specifically, certain of the transactions contemplated by the Recapitalization Transaction have triggered the requirement for an approval by state-level regulators in certain U.S. states with jurisdiction over the licensed cannabis operations of entities owned, in whole or in part or controlled directly or indirectly, by iAnthus in such states.
ianthusAs disclosed in the Company’s news release dated October 13, 2021, regulatory approvals in Florida, Massachusetts, New York and Maryland necessary to close the Recapitalization Transaction were outstanding. The Company announces that the Florida Department of Health (Office of Medical Marijuana Use) has by notice dated October 29, 2021 approved the variance request pursuant to section 381.986(8)(e) of the Florida Statutes by the Company’s subsidiary, McCrory’s Sunny Hill Nursery, LLC (dba GrowHealthy) to approve the change of ownership transactions contemplated by the Recapitalization Transaction. Regulatory approvals in Massachusetts, New York and Maryland are still outstanding.1
