iAnthus Capital Holdings Inc. (
CSE: C.IAN,
OTCQB: ITHUF,
Forum) said Thursday it has completed the acquisition of Citiva Medical and Citiva USA. As a result, the company said it has gained access to New York’s population of approximately 20 million people.
Pursuant to the transaction, iAnthus acquired 100% of Citiva for approximately US$18 million, consisting of US$3.6 million, payable in cash and US$14.4 million satisfied in iAnthus shares, at a deemed price per share of US$2.57.
More information 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.