iAnthus closes acquisition of MPX New Jersey, adding medical cannabis license in NJ

iANTHUS CAPITAL HOLDINGS, INC.

iAnthus acquires 100% of MPX New Jersey LLC after NJ CRC approval on Jan 7, 2022; closed Feb 1, 2022.
iAnthus NJ converted $11M loan principal plus accrued interest into 99% equity, exercised option for remaining 1%.
iAnthus NJ issued $11M senior secured bridge notes for construction at Pleasantville cultivation facility; operations expected soon.
MPX NJ aims to open Atlantic City dispensary in coming months; two satellite dispensary applications pending since Dec 2020.
Recapitalization transaction still needs regulatory approvals in MA, NY, MD, FL; NJ approval now also required.

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