iAnthus Capital Holdings Inc. (
CSE: C.IAN,
OTCQB: ITHUF,
Forum) on Thursday said the New York State Department of Health has approved the company’s proposed acquisition of Valley Agriceuticals.
The state has also announced that Valley Agriceuticals has officially been granted a license as a Registered Organization under the medical marijuana program of the State of New York.
More details can be found
here.
iAnthus was in the news recently when the company said it was expanding into the New York State market after signing a binding letter of intent to acquire 100% of Valley Agriceuticals, LLC.
By doing so, the company says it will gain exposure to 20 million residents in the rapidly growing Medical Marijuana market in New York State.
Valley Agriceuticals has received conditional approval from the New York State Department of Health to be awarded one of just 10 medical marijuana medical licenses issued by the state.
Full Disclosure: iAnthus Capital Holdings Inc. is a paid client of Stockhouse Publishing.