IANTHUS ANNOUNCES THE SECOND AND FINAL TRANCHE CLOSING OF ITS NON-BROKERED PRIVATE PLACEMENT OF $4.5 MILLION
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
NEW YORK, NY and TORONTO, ON — November 28, 2017 — iAnthus Capital Holdings, Inc., (CSE: IAN) (“iAnthus” or the “Company”), is pleased to announce that the Company has completed its second and final closing of its previously announced non-brokered private placement at $1.70 per Common Share (the “Private Placement”). At this final closing, the Company issued and sold an aggregate of 495,000 Common Shares for aggregate gross proceeds of $841,500 and, together with the first closing of the Private Placement announced by the Company on November 21, 2017, an aggregate 2,677,491 Common Shares were sold in the Private Placement for aggregate gross proceeds to iAnthus of $4,551,734.70. The Company has also issued warrants to purchase an aggregate 66,260 Common Shares (the “Finder Warrants”) and paid cash fee representing 7% of the Common Shares sold by certain finders under the Private Placement. Each Finder Warrant is exercisable to purchase one Common Share at $1.70, expiring 24-months from the Warrant issuance date.
The Company intends to use the net proceeds from the Private Placement for acquisition financing, other capital projects and general corporate purposes.
All securities issued under the Private Placement are subject to a four month hold period from the date of issuance.
The securities issued pursuant to the Private Placement 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
iAnthus Capital Holdings, Inc. provides investors diversified exposure to best-in-class licensed cannabis cultivators, processors and dispensaries throughout the United States. 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 harnesses these skills to support operations across five states. For more information, visit www.iAnthuscapital.com.
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED, APPROVED OR DISAPPROVED THE CONTENT OF THIS NEWS RELEASE.
Chief Financial Officer iAnthus Capital Holdings, Inc. 646-518-9418 Investors@iAnthusCapital.com
U.S. Investors: Phil Carlson/Elizabeth Barker KCSA Strategic Communications iAnthus@KCSA.com
Canadian Investors: Nicole Marchand Nicole Marchand Investor Relations Nicole@nm-ir.com
Media: Robert Vanisko North 6th Agency 212-334-9753 ext.112 iAnthus@n6a.com