iAnthus Capital Holdings, Inc. (“iAnthus” or “the Company”),
(CSE:IAN) (OTCQB:ITHUF), which owns, operates, and partners with
licensed cannabis operations throughout the United States, is
pleased to announce that its 100% owned subsidiary, GrowHealthy
Holdings, LLC (“GrowHealthy”), has commenced delivery to patients
in Florida and has signed a lease for a dispensary location in
Orlando, Florida.
GrowHealthy’s delivery program currently offers
vape cartridges, tinctures, and oral dispensing syringes to
patients state-wide. Delivery will continue to be augmented by the
opening of its dispensaries in West Palm Beach, Tampa and Orlando,
beginning in Q3 2018.
GrowHealthy’s 1,900 sf. ft. Orlando dispensary
location is located off a major highway in one of the most densely
populated areas of Orlando. The property will provide ample parking
and is situated at cross streets where the average traffic per day
is more than 60,000 vehicles. The dispensary is expected to open in
Q3 2018.
GrowHealthy’s first three dispensaries are
strategically situated in key population areas in Florida, with a
total addressable market of 11.2 million people. Total dispensary
square footage in GrowHealthy’s first three dispensaries will span
approximately 8,500 sq. ft.
GrowHealthy initiated its cultivation program in
April 2017 with phase one of its 200,000 square foot indoor
cultivation facility. In preparation for the launch of its delivery
program and dispensary locations, GrowHealthy has thousands of
plants under cultivation with current plant and inventory valued at
approximately US$2 million.
“GrowHealthy continues to make great progress
with the recent signed dispensary leases and the launch of our
delivery program,” said Carlos Perea, Chief Operating Officer of
iAnthus. “In the next few quarters, we expect that GrowHealthy will
have opened dispensaries in at least three of Florida’s largest
metro regions, Orlando, West Palm Beach, and Tampa. These locations
will be crucial towards driving value for our investors and growing
our overall footprint.”
Additional information about iAnthus may be
accessed on the Company’s website at www.iAnthusCapital.com and
under the Company’s SEDAR profile at www.sedar.com.
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.
About GrowHealthy Holdings,
LLC.
GrowHealthy Holdings, LLC and its affiliates
were formed in 2014 to apply for a license as a Dispensing
Organization under the original Florida low-THC medical cannabis
program through its affiliated partner, McCrory's Sunny Hill
Nursery, LLC ("McCrory's"). McCrory's was licensed as a Dispensing
Organization by the Florida Department of Health on December 21,
2016, and then subsequently licensed on July 5, 2017 to cultivate,
process, transport, and dispense full-strength medical cannabis as
one of only thirteen Medical Marijuana Treatment Centers under the
new Medical Use of Marijuana Act passed in June 2017.
Forward Looking Statements
Statements in this news release that are
forward-looking statements are subject to various risks and
uncertainties concerning the specific factors disclosed here and
elsewhere in iAnthus' periodic filings with Canadian securities
regulators. When used in this news release, words such as "will,
could, plan, estimate, expect, intend, may, potential, believe,
should," and similar expressions, are forward-looking
statements.
Forward-looking statements may include, without
limitation, statements including dispensary locations and
build-outs, and other statements of fact.
Although iAnthus has attempted to identify
important factors that could cause actual results, performance or
achievements to differ materially from those contained in the
forward-looking statements, there can be other factors that cause
results, performance or achievements not to be as anticipated,
estimated or intended, including, but not limited to: dependence on
obtaining regulatory approvals; investing in target companies or
projects which have limited or no operating history and are engaged
in activities currently considered illegal under US Federal laws;
change in laws; limited operating history; reliance on management;
requirements for additional financing; competition; hindering
market growth and state adoption due to inconsistent public opinion
and perception of the medical-use and adult-use marijuana industry
and; regulatory or political change.
There can be no assurance that such information
will prove to be accurate or that management's expectations or
estimates of future developments, circumstances or results will
materialize. As a result of these risks and uncertainties, the
results or events predicted in these forward-looking statements may
differ materially from actual results or events.
Accordingly, readers should not place undue
reliance on forward-looking statements. The forward-looking
statements in this news release are made as of the date of this
release. iAnthus disclaims any intention or obligation to update or
revise such information, except as required by applicable law, and
iAnthus does not assume any liability for disclosure relating to
any other company mentioned herein.
The Canadian Securities Exchange has not
reviewed, approved or disapproved the content of this news
release.
This news release does not constitute an offer
to sell or a solicitation of an offer to sell any of the securities
in the United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”) or any state securities laws
and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
CONTACT INFORMATION
Corporate: Julius KalcevichChief Financial OfficeriAnthus
Capital Holdings, Inc. 646-518-9418 Investors@iAnthusCapital.com US
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
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