U.S. Cannabis Company iAnthus Capital Management Completes Reverse Merger
TORONTO, ON and NEW YORK, NY -- (Marketwired) -- 08/31/16 --
iAnthus Capital Management, LLC, which provides financing and management services to licensed cannabis cultivators, processors and dispensaries throughout the United States, today announced that it has completed its reverse merger with Genarca Holdings Ltd. Concurrent with the closing, the Company changed its name from Genarca Holdings Ltd. to iAnthus Capital Holdings, Inc. ("iAnthus") and had 16,900,000 total shares outstanding. Management of iAnthus will include Hadley Ford, CEO; Randy Maslow, President and John Henderson, COO.
On August 19, 2016, the Canadian Securities Exchange (the "CSE") issued its conditional approval of the listing of the common shares of the Company (the "Common Shares") upon the Closing. The Common Shares are expected to begin trading on the CSE on September 7, 2016 under the ticker symbol "IAN."
"The successful completion of our reverse merger positions iAnthus to begin trading on the CSE in short order," said Hadley Ford, co-founder of iAnthus. "A public listing will provide us with access to capital from the public markets, an important component of our strategy to finance the opportunity created by the U.S. cannabis industry transition to a legalized, highly-regulated industry."
iAnthus Capital Management, LLC was formed in September, 2014 to capitalize on the rapidly growing U.S. regulated cannabis (marijuana) market and the unique opportunity that has created for providing capital investment and expert management services to licensed cultivators, product manufacturers and dispensaries.
Additional information about iAnthus and iAnthus Capital Management may be accessed on the Company's website at www.ianthuscapital.com and in its Listing Statement (the "Listing Statement") which will be available on the SEDAR website at www.sedar.com.
About iAnthus Capital Holdings
iAnthus Capital Holdings, Inc, through its wholly owned subsidiary, iAnthus Capital Management, LLC, delivers a comprehensive solution for financing and managing licensed cannabis cultivators, processors and dispensaries throughout the United States. Founded by entrepreneurs with decades of experience in investment banking, corporate finance, law and healthcare services, iAnthus provides a unique combination of capital and hands-on operating and management expertise. We harness these skills to support a diversified portfolio of cannabis industry investments for our shareholders, including direct equity investments in for-profit license holders and lending facilities coupled with management services to not-for-profit license holders.
Forward Looking Statements
Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
Source: iAnthus Capital Holdings Inc.
Released August 31, 2016