iAnthus Capital Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Share Capital (Tables)

Share Capital (Tables)

3 Months Ended

Mar. 31, 2023

The following table summarizes certain information in respect of the Company’s warrants:


	March 31, 2023				December 31, 2022
	Units		Weighted Average Exercise Price (C$)		Units	Weighted Average Exercise Price (C$)
Warrants outstanding, beginning		—	$	—	22,640	$	3.56
Forfeited		—		—	(17,955)		2.52
Expired		—		—	(4,685)		7.53
Warrants outstanding, ending		—	$	—	—	$	—

Summary Of Potentially Dilutive Securities

The following table summarizes potentially dilutive securities, and the resulting common share equivalents outstanding as of March 31, 2023 and December 31, 2022:


	March 31, 2023	December 31, 2022
Common share options	7,877	7,877
Restricted stock units	126,430	173,230
Total	134,307	181,107

Summary Of Option Activity

The following table summarizes certain information in respect of option activity during the period:


.	Three Months Ended March 31, 2023				Year Ended December 31, 2022
	Units		Weighted Average Exercise Price (1)	Weighted Average Contractual Life	Units		Weighted Average Exercise Price (1)	Weighted Average Contractual Life
Options outstanding, beginning	7,877	$	0.05	7.78	10,504	$	3.65	—
Granted	—		—	—	7,877		0.05	—
Cancellations	—		—	—	(7,111)		3.47	—
Forfeitures	—		—	—	(3,152)		4.32	—
Expirations	—		—	—	(241)		0.89	—
Options outstanding, ending (2)	7,877	$	0.05	7.78	7,877	$	0.05	7.78

(1)

The Original Awards are denominated in Canadian dollars. Exercise prices have been converted to U.S. dollar equivalents using an exchange rate of CAD$1.353 to $1.00 as of March 31, 2023.

(2)

As of March 31, 2023, 6,564 of the stock options outstanding were exercisable (December 31, 2022 - 5,252).

Summary Of Restricted Stock Units Activity

The following table summarizes certain information in respect of RSU activity during the period:


	Three Months Ended March 31, 2023			Year Ended December 31, 2022
	Units		Weighted Average Grant Price (1)		Units		Weighted Average Grant Price (1)
Unvested balance, beginning	129,671	$	0.07		—	$	—
Granted	—		—		474,557		0.08
Vested	(9,255)		0.09		(263,155)		0.09
Forfeited	(2,901)		0.08		(81,731)		0.10
Unvested balance, ending	117,515	$	0.07		129,671	$	0.07

(1)

Weighted average grant price is presented in U.S. dollars for the three months ended March 31, 2023, as compared to previously issued financial statements, which present this figure in Canadian dollars.

Summary Of Black Scholes Option Pricing Model

The Company used the Black-Scholes option pricing model to estimate the fair value of the options at the grant date using the following assumptions:


	March 31, 2023	December 31, 2022
Risk-free interest rate	—	3.8%
Expected dividend yield	—	0.0%
Expected volatility	—	128.6%
Expected life	—	4.3 years