iAnthus Issues Incentive Stock Options to Employees, Consultants and Board Members
NEW YORK and TORONTO, March 02, 2018 (GLOBE NEWSWIRE) -- iAnthus Capital Holdings, Inc. (“iAnthus” or “the Company”), (CSE:IAN) (OTCQB:ITHUF), which owns, operates, and partners with licensed cannabis operations throughout the United States, announces that the Company has granted 1,886,000 incentive stock options, exercisable at CAD$3.56 per stock option (the “Exercise Price”), to advisory board members, consultants and employees of the Company.
All stock options are exercisable for a period of 10 years, subject to any earlier termination in accordance with their terms. The 1,886,000 stock options have the following vesting periods:
- 5,000 options vest at a rate of 100% on May 31, 2018 and;
- 522,500 options vest at a rate of 25% on March 31, 2018, and 25% quarterly thereafter and;
- 1,358,500 options vest at a rate of 12.5% on March 31, 2018, and 12.5% quarterly thereafter.
“Our most important differentiator is our people,” said Hadley Ford, CEO of iAnthus. “Aligning our team with creating shareholder value is a fundamental part of our culture.”
The 1,886,000 stock options were granted under the Company's common share stock option plan and are each exercisable to acquire one common share of the Company at the Exercise Price.
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. The Company uses these skills to support operations across six states. For more information, visit www.iAnthusCapital.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," and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements including company stock options and other statements of fact.
Although iAnthus has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US Federal laws; change in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, 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.
Chief Financial Officer
iAnthus Capital Holdings, Inc.
Phil Carlson / Elizabeth Barker
KCSA Strategic Communications
North 6th Agency
Released March 2, 2018