iAnthus Capital Holdings, Inc. (CSE: IAN) (OTCQB: ITHUF) announced this morning that the company has received a US$50 million investment from Gotham Green Partners, a New York based private equity firm, which is one the largest investment to date by a single investor in a publicly traded U.S. cannabis operating company.
iAnthus Capital Holdings owns licensed cannabis cultivation, processing and dispensary facilities throughout the United States. The company was founded by entrepreneurs with decades of experience in operations, investment banking, corporate finance, law and health care services. iAnthus uses its experience to support operations across six different states in the U.S.
The company plans to use to proceeds from the capital raise to repay a US$20 million one-year note and accrued interest to VCP Bridge LLC, continued cultivation and dispensary build-outs in New York and Florida markets, and to expand the company’s operations.
Hadley Ford, CEO of iAnthus, gave this quote in the press release:
“Gotham Green Partners is well recognized as a long-term investor and leader within the cannabis investment community, and we are excited to partner with GGP to create value for our shareholders. As the U.S. cannabis industry continues to grow, we will be well-capitalized and well-positioned to continue the buildout of our existing assets and pursue opportunistic acquisitions to expand our footprint.”
You may be interested
Leafwire Launches Social Networking Cannabis and Hemp PlatformEditor - July 20, 2018
Leafwire launched their new social platform this week which is dedicated to connect cannabis and industrial hemp investors, entrepreneurs, employees and upper management all under one network.…
The Green Organic Dutchman and Epican Open Retail Dispensary in JamaicaEditor - July 19, 2018
The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) (OTC:TGODF) and Epican Medicinals, announced this week that the companies have successfully opened their first legal cannabis retail store in the…