Ianthus - ITHUF STOCK NEWS

iAnthus Capital Holdings (ITHUF) has announced the sale of select Arizona assets to Sonoran Roots for $36.5 million. The transaction includes three dispensaries and two processing/cultivation facilities, with iAnthus retaining one dispensary in Mesa, Arizona.

The purchase price consists of $20 million in cash payable at closing and a $16.5 million secured promissory note bearing 6% annual interest over 66 months. The deal, expected to close in 1Q2025, aligns with iAnthus' strategy to optimize its portfolio and focus on key growth markets including Florida, Maryland, New Jersey, Massachusetts, and New York.

The proceeds will be used for working capital, general corporate purposes, and partial repayment of secured debt obligations. iAnthus will maintain its presence in Arizona through its Health for Life dispensary in Crismon and the MPX brand.

iAnthus Capital Holdings (CSE: IAN, OTCQB: ITHUF) has appointed Justin Vu as permanent Chief Financial Officer, effective immediately. Vu, who previously served as Interim CFO since April 5, 2024, joined the company in early 2023 as Senior Vice President of Finance. Before iAnthus, he worked as a financial consultant and held senior finance and accounting positions at a major US media and entertainment company.

CEO Richard Proud expressed confidence in Vu's appointment, citing his demonstrated track record in execution, operational efficiency, and driving results since joining the cannabis operations company.

iAnthus Capital Holdings (ITHUF) has announced the acquisition of Cheetah vape brand through an asset purchase agreement. The transaction includes Cheetah's cannabis wholesale business in Illinois and Pennsylvania, with plans for expansion throughout 2025. The purchase price comprises US$1.5 million in common shares issued in three tranches at US$0.012 per share, plus performance-based cash payments until April 2028.

As part of the deal, Cheetah's Co-Founder and CEO Michael Piermont will join iAnthus as Chief Commercial Officer. The acquisition aims to strengthen iAnthus' brand portfolio and market presence, particularly in the premium live resin vape products segment. The companies plan to leverage shared resources and operational efficiencies to pursue national growth opportunities.

iAnthus Capital Holdings (CSE: IAN, OTCQB: ITHUF) has reached a settlement agreement on December 3, 2024, regarding litigation with Ninth Square Capital The settlement resolves consolidated claims filed in August 2019 concerning alleged oppressive conduct related to an arrangement between iAnthus and MPX Bioceutical

Under the settlement terms, iAnthus will issue 5,000,000 common shares to Ninth Square at a deemed price of C$0.01 per share. The company maintains no admission of wrongdoing or liability and continues to contest the allegations. The shares will be issued under Canadian securities laws with no hold period and through U.S. Securities Act exemptions.

iAnthus Capital Holdings reported its Q3 2024 financial results, showing mixed performance. Revenue decreased to $40.3 million, down 6.3% from Q2 2024 and 6.1% year-over-year. Gross profit reached $18.1 million with a margin of 44.9%, showing a quarterly decline but yearly improvement. The company reported a net loss of $11.6 million, wider than Q2's $9.8 million loss. Adjusted EBITDA was $5.3 million, decreasing from $8.9 million in Q2 2024 but improving from $0.8 million in Q3 2023.

iAnthus Capital Holdings, Inc. (CSE: IAN) (OTCQB: ITHUF) reported its Q2 2024 financial results. Key highlights include:

• Revenue of $43.0 million, up 3.5% from Q1 2024 and 11.1% year-over-year
• Gross profit of $20.7 million, a 20.3% increase from Q1 2024
• Gross margin of 48.1%, up 673bps from Q1 2024
• Net loss of $9.8 million, improved from $14.0 million in Q1 2024
• Adjusted EBITDA of $8.9 million, up from $3.2 million in Q1 2024

The company showed sequential improvements in key financial metrics, indicating positive momentum in its operations across regulated cannabis markets in the United States.

iAnthus Capital Holdings announced the results of their Annual General and Special Meeting of Shareholders held on June 27, 2024. Key resolutions put forward were approved, including the election of Scott Cohen, Michelle Mathews-Spradlin, Kenneth W. Gilbert, Alexander Shoghi, and Richard Proud as directors. Additionally, PKF O'Connor Davies, LLP was appointed as the company's auditors, and the amended and restated Omnibus Incentive Plan received shareholder approval.

iAnthus Capital Holdings announced the opening of its 19th GrowHealthy location in North Port, Florida. The new store features an open concept layout, allowing customers to view and examine products without needing staff assistance. The grand opening event during Memorial Day weekend included live music, food trucks, and special promotions. According to CEO Richard Proud, the new store's sales exceeded forecasts, and customer feedback on the store's atmosphere and reduced wait times was positive. The new concept aims to enhance the shopping experience for Florida's medical cannabis patients.

iAnthus Capital Holdings (CSE: IAN, OTCQB: ITHUF) reported its Q1 2024 financial results ending March 31, 2024. Revenue rose to $41.6 million, up 1.7% from Q4 2023 and 13.1% from Q1 2023. Gross profit increased to $17.2 million, with a gross margin of 41.4%. Net loss decreased to $14.0 million from $18.7 million in Q4 2023. Adjusted EBITDA grew to $3.2 million from $2.8 million in Q4 2023. The company continues to focus on operational efficiency and strategic growth in the U.S. regulated cannabis market. Detailed financials are available on the SEC and SEDAR+ websites.