iAnthus Capital Holdings, Inc.

Canaccord Genuity Acts as Financial Advisor to iAnthus Capital Holdings, Inc. on its ~US$240 Million Recapitalization Transaction and Interim Financing

Canaccord Genuity is pleased to announce that on June 24, 2022, its client iAnthus Capital Holdings, Inc. (“iAnthus” or the “Company”) (CSE: IAN) completed its $240 million restructuring which had received final approval from the Supreme Court of British Columbia for the Company’s plan of arrangement, including support of 100% of its secured lenders and 100% of its unsecured debentureholders (the “Recapitalization Transaction”), as well as provide interim financing of approximately $15 million.

The Recapitalization Transaction is expected to significantly reduce the Company’s outstanding indebtedness and annual interest costs, improve its capital structure and liquidity, and result in an enhanced financial foundation for the Company.

The Recapitalization Transaction was implemented pursuant to the proposed arrangement proceedings, and upon closing, the common shares then outstanding are expected to be owned 48.625% by secured lenders, 48.625% by unsecured debentureholders and 2.75% by existing shareholders.

iAnthus owns and operates licensed cannabis cultivation, processing and dispensary facilities throughout the United States, providing investors diversified exposure to the U.S. regulated cannabis industry. iAnthus currently has a presence in 11 states and operates 36 dispensaries (AZ-4, MA-1, MD-3, FL-16, NY-3, CO-1, VT-1 and NM-7 where iAnthus has minority ownership).