iAnthus Capital Holdings, Inc. (“iAnthus” or the “Company”) (CSE: IAN) (OTCPK: ITHUF), which owns, operates and partners with regulated cannabis operations across the United States, announces that earlier today, in a unanimous decision, the British Columbia Court of Appeal dismissed the appeal of Walmer Capital Limited, Island Investments Holdings Limited and Alastair Crawford of the order of the Supreme Court of British Columbia made October 5, 2020 approving a plan of arrangement to implement the Company’s previously announced recapitalization transaction (the “Recapitalization Transaction”). The Company announced the initiation of the appeal in a news release dated November 5, 2020.
Randy Maslow, Interim Chief Executive Officer and President of the Company stated: “We are very pleased with the Court’s decision to uphold approval of the Company’s plan of arrangement. The Recapitalization Transaction will improve iAnthus’ capital structure and liquidity by reducing the Company’s indebtedness and annual interest costs, placing the Company in a stronger position to capitalize on our national licensure footprint and continue to build out our expanding business.”
For further details on the Supreme Court of British Columbia’s approval of the Recapitalization Transaction, see the Company’s news release dated October 6, 2020, a copy of which is available under the Company’s SEDAR profile at www.sedar.com.
iAnthus owns and operates licensed cannabis cultivation, processing and dispensary facilities throughout the United States. For more information, visit www.iAnthus.com.