2021-01-29 19:34 ET - News Release
Mr. Randy Maslow reports
IANTHUS PROVIDES UPDATE ON RECAPITALIZATION TRANSACTION
In a unanimous decision, the B.C. Court of Appeal has dismissed the appeal of Walmer Capital Ltd., Island Investments Holdings Ltd. and Alastair Crawford of the order of the Supreme Court of British Columbia made Oct. 5, 2020, approving a plan of arrangement to implement iAnthus Capital Holdings Inc.'s previously announced recapitalization transaction. The company announced the initiation of the appeal in a news release dated Nov. 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's 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 Oct. 6, 2020, a copy of which is available under the company's SEDAR profile.
About iAnthus Capital Holdings Inc.
iAnthus owns and operates licensed cannabis cultivation, processing and dispensary facilities throughout the United States.
We seek Safe Harbor.
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