iAnthus Debuts New GrowHealthy Open Concept Store at North Port, Florida Dispensary Grand Opening

Rhea-AI Summary

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.

Positive

• Opening of the 19th GrowHealthy location in North Port, Florida.
• Introduction of an innovative open concept layout.
• Grand opening event attracted high customer turnout.
• Sales exceeded forecasts during the grand opening weekend.
• Positive customer feedback on store atmosphere and reduced wait times.

Negative

• None.

GrowHealthy marked the opening of its 19th location with a Memorial Day weekend celebration including food trucks, music, entertainment and special promotions

NEW YORK and TORONTO, June 24, 2024 /PRNewswire/ - iAnthus Capital Holdings, Inc. ("iAnthus" or the "Company") (CSE: IAN) (OTCQB: ITHUF), which owns, operates and partners with regulated cannabis operations across the United States, recently announced the addition of a new GrowHealthy store in North Port, Florida featuring a new, open concept – a first for the brand's 19 stores.

A trusted source of quality for Florida's medical cannabis patients, GrowHealthy celebrated the Grand Opening of the new retail location Memorial Day weekend with a celebration that included live music, food and unique product giveaways. Located at 4490 Aidan Lane in North Port, the new dispensary's open concept features tethered bud displays that allow customers to view and examine products without needing an associate's assistance. In addition, new focused lighting showcases products on the floor and provides an elevated boutique retail experience. During the Grand Opening weekend, the North Port store enjoyed a steady rate of visitation, with sales tracking well ahead of what was forecasted.

"We could not be more pleased with the success of the new North Port store," said Richard Proud, CEO of iAnthus. "The Florida market continues to evolve as patients and consumers grow more educated about cannabis and seek out the kind of customer experience they expect at other retailers. Our team in Florida did an amazing job of creating the kind of environment that can provide this boutique experience. Customers have already commented on the 'vibe' of the new store and the reduced wait times the open concept provides."

About iAnthus

iAnthus owns and operates licensed cannabis cultivation, processing and dispensary facilities throughout the United States. The Company's retail dispensary brands include GrowHealthy (Florida), MPXNJ (New Jersey), Health for Life (Nevada, Maryland and Arizona), Be. (New York) and Mayflower (Massachusetts).  For more information, visit www.iAnthus.com.

Forward-Looking Statements

Statements in this news release contain forward-looking statements. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of management, are not guarantees of performance and are subject to significant risks and uncertainty. These forward-looking statements should, therefore, be considered in light of various important factors, including those set forth in Company's reports that it files from time to time with the United States Securities and Exchange Commission ("SEC") and the Canadian securities regulators, which you should review including, but not limited to, the Company's Annual Report on Form 10-K filed with the SEC. When used in this news release, words such as "will," could," plan," estimate," expect," intend," may," potential," believe, "should" and similar expressions, are forward-looking statements. Forward-looking statements may include, without limitation, statements relating future developments and the Company's financial performance, business development and results of operations.

These forward-looking statements should not be relied upon as predictions of future events, and the Company cannot assure you that the events or circumstances discussed or reflected in these statements will be achieved or will occur. If such forward-looking statements prove to be inaccurate, the inaccuracy may be material. You should not regard these statements as a representation or warranty by the Company or any other person that it will achieve its objectives and plans in any specified timeframe, or at all. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company disclaims any obligation to publicly update or release any revisions to these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this news release or to reflect the occurrence of unanticipated events, except as required by law.

Neither the Canadian Securities Exchange nor the SEC have reviewed, approved or disapproved the content of this news release.

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SOURCE iAnthus Capital Holdings Inc.

FAQ

What is the significance of iAnthus Capital Holdings' new GrowHealthy store in North Port, Florida?

The new GrowHealthy store in North Port, Florida, marks the 19th location and features an innovative open concept layout to enhance the customer shopping experience.

How did the sales perform at GrowHealthy’s new North Port location during the grand opening?

Sales at the new North Port location exceeded forecasts during the grand opening weekend.

What were some features of the GrowHealthy North Port store’s grand opening event?

The grand opening event featured live music, food trucks, special promotions, and giveaways.

What feedback did customers provide about the new GrowHealthy store in North Port, Florida?

Customers provided positive feedback on the store’s atmosphere and reduced wait times.

What unique design elements are included in the new GrowHealthy North Port store?

The store features tethered bud displays and focused lighting to provide an elevated boutique retail experience.