IANTHUS CAPITAL HLDG ORD - ITHUF STOCK NEWS

iAnthus Capital Holdings announced an update regarding its Annual General Meeting (AGM) for 2020. The BC Registrar extended the deadline for the AGM to December 31, 2021, but later declined further extensions. In response, iAnthus filed a Notice of Appeal in the Supreme Court of British Columbia, seeking an extension until June 30, 2022, due to pending recapitalization transactions. The company emphasizes potential impacts from COVID-19 on operations, which may affect financial performance and share trading.

iAnthus Capital Holdings has updated stakeholders on its Recapitalization Transaction, following the Florida Department of Health's approval of a variance request for beneficial ownership change at its subsidiary, McCrory's Sunny Hill Nursery, on November 4, 2021. However, this approval is currently challenged in a petition filed by a Florida medical marijuana organization. The company awaits further regulatory approvals in Massachusetts, New York, and Maryland, which are essential for finalizing the transaction. The closing remains subject to several conditions outlined in the Restructuring Support Agreement.

iAnthus Capital Holdings, operating in the U.S. cannabis sector, has announced plans to appeal a recent ruling by the Ontario Superior Court regarding the extension of the timeline for regulatory approvals crucial for its Recapitalization Transaction. This decision, made on October 12, 2021, allows lenders to extend the Outside Date indefinitely until all conditions are met. iAnthus had previously entered into a Restructuring Support Agreement, which has not yet culminated due to pending approvals from various states, including New York and Maryland.

iAnthus Capital Holdings has been granted an extension to hold its 2020 Annual General Meeting until December 31, 2021. The company also reported significant progress in its recapitalization transaction, with both securityholder and court approvals achieved. However, the closing still relies on additional state-level regulatory approvals in Florida, Massachusetts, New York, and Maryland. Importantly, Florida's Department of Health approved a variance for ownership changes linked to the recapitalization. Outstanding approvals in other states remain pending, impacting the overall transaction timeline.

iAnthus Capital Holdings, Inc. (CSE: IAN) (OTCPK: ITHUF) announced that Justice Penny of the Ontario Superior Court granted relief to Secured Noteholders in a recent application. The ruling extends the Outside Date in the restructuring support agreement until all regulatory approvals for their Recapitalization Transaction are met. iAnthus is reviewing the decision and considering an appeal, having 30 days to do so. Regulatory approvals are still outstanding in Florida, Massachusetts, New York, and Maryland.

iAnthus Capital Holdings, Inc. (OTCPK: ITHUF) provided an update regarding its Secured Noteholders' Application, previously announced on August 27, 2021. The Ontario Superior Court of Justice, led by Justice Penny, heard the Application on September 23, 2021, and has reserved its decision. The Stay ordered on August 24, 2021, remains in effect until 48 hours following the release of Justice Penny's decision. The parties are required to maintain the status quo and cannot terminate the restructuring support agreement or communicate regarding the application with state regulators.

iAnthus Capital Holdings has announced receipt of a Purported Notice from Lenders seeking to extend the Outside Date for a recapitalization transaction past August 31, 2021. iAnthus disputes this, asserting that the Outside Date remains unchanged. The company continues working towards obtaining necessary regulatory approvals for the transaction. Additionally, a Notice of Application from Gotham Green Partners is seeking a declaration on the Purported Notice, with iAnthus intending to dismiss it. Key regulatory approvals are pending in several states, including Florida and Massachusetts.

iAnthus Capital Holdings reported Q2 2021 financial results with revenue of $54.2 million, up 57% year-over-year, and gross profit of $31.3 million, up 66%. The gross margin improved to 57.7%. Despite positive revenue growth, the company faced a net loss of $15.3 million, a decrease from the prior year's loss of $24.8 million. Adjusted EBITDA reached $13.5 million, a significant increase from $0.7 million in Q2 2020. The ongoing recapitalization transaction is progressing, requiring additional regulatory approvals.

iAnthus Capital Holdings (CSE: IAN, OTC: ITHUF) provided an update on its Recapitalization Transaction, confirming that both securityholder and Court approvals have been obtained. The closing, however, is contingent upon regulatory approvals from state authorities in several states, including Florida and Massachusetts. The Outside Date for these approvals has been amended from June 30, 2021, to August 31, 2021. Additionally, the Company announced a postponement of its Annual General Meeting from June 30, 2021, to October 31, 2021.