iAnthus to Resume Vaping Sales in Massachusetts in Accordance with New Regulations
NEW YORK, Dec. 17, 2019 /PRNewswire/ - iAnthus Capital Holdings, Inc. ("iAnthus" or the "Company") (CSE: IAN) (OTCQX: ITHUF), which owns, operates, and partners with best-in-class regulated cannabis operations across the United States, is pleased to update the market on the status of cannabis vaping product sales by its Massachusetts subsidiary, Mayflower Medicinals, Inc.
On December 12, 2019, the Massachusetts Cannabis Control Commission ("CCC") amended its quarantine of all cannabis vaping products, including allowing state-licensed operators to resume the sale of vaping products, which are manufactured on or after December 12th and tested for vitamin E acetate and other contaminants, including heavy metals. The CCC also requires a new product insert and general warning for all vaping products. As previously stated, the Company has never used vitamin E acetate in the production of its vaping products and therefore does not foresee a delay, other than potential testing backlogs, in making its vaping products available to patients as soon as possible.
"Our first post-December 12th production is ready for testing and we are completing the revisions and reviews of our new labeling and inserts to ensure we are meeting all of the new requirements of the CCC. Patient safety is our number one priority and we support the additional requirements for testing as it only helps to assure better, safer products and outcomes for patients," said Randy Maslow, President of iAnthus.
The Company expects to have vaping products available in Massachusetts within the next few weeks. The Company will notify Mayflower Medicinal patients via email when vaping products are approved for sale and will post product availability and testing results at https://www.mayflowermedicinals.com/.
The Company currently operates a medical dispensary in Boston and recently announced it received approval from the state and has commenced construction on its first adult-use retail dispensary in Worcester. The Company also has a 36,000 sq. ft. marijuana cultivation and processing facility in Holliston. An additional 37,700 sq. ft. facility in Fall River is expected to begin operations in early 2020, subject to regulatory approvals.
About iAnthus Capital Holdings, Inc.
iAnthus Capital Holdings, Inc. owns and operates best-in-class licensed cannabis cultivation, processing and dispensary facilities throughout the United States, providing investors diversified exposure to the U.S. regulated cannabis industry. Founded by entrepreneurs with decades of experience in operations, investment banking, corporate finance, law and health care services, iAnthus provides a unique combination of capital and hands-on operating and management expertise. iAnthus currently has operations in 11 states, including 29 dispensaries (FL-11, AZ-4, MA-1, MD-3, NY-2, CO-1, VT-1 and NM-6 where iAnthus has minority ownership). For more information, visit www.iAnthus.com.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in iAnthus' periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should, our vision" and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements including dispensary locations, facility build-outs, and other statements of fact.
Readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. iAnthus disclaims any intention or obligation to update or revise such information, except as required by applicable law, and iAnthus does not assume any liability for disclosure relating to any other company mentioned herein.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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SOURCE iAnthus Capital Holdings, Inc.
Released December 17, 2019