iAnthus Capital Holdings, Inc. (CSE: IAN) (OTCQX: ITHUF), which owns, operates and partners with regulated cannabis operations across the United States, announces that, at the meetings of Secured Noteholders, Unsecured Debentureholders and Existing Equityholders held on September 14, 2020, Securityholders voted overwhelmingly in support of the previously announced recapitalization transaction to be implemented by way of a court-approved plan of arrangement under the British Columbia Business Corporations Act.

Approval of the Plan of Arrangement

At the meeting of holders of the 13% senior secured convertible debentures issued by iAnthus Capital Management, LLC, the Company's wholly-owned US subsidiary, 100% of the votes cast by Secured Noteholders were voted in favour of the Plan of Arrangement.

Court Approval and Implementation

The Company and ICM will attend a hearing before the Supreme Court of British Columbia (the "Court") currently scheduled for 10:00 a.m. (Vancouver time) on September 25, 2020, or such other time and date as may be set by the Court, to seek final Court approval for the Plan of Arrangement.

Certain of the transactions contemplated by the Recapitalization Transaction may trigger a review and approval requirement by state-level regulators in certain U.S. states with jurisdiction over the licensed cannabis operations of entities owned in whole or in part or controlled directly or indirectly by iAnthus, including potentially: Arizona, Florida, Maryland, Massachusetts, Nevada, New Jersey, New York, and Vermont. Where required, iAnthus intends to promptly commence the review and approval process and to expedite the process to the greatest extent possible.

About iAnthus

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. Founded by entrepreneurs with decades of experience in operations, investment banking, corporate finance, law and healthcare services, iAnthus provides a unique combination of capital and hands-on operating and management expertise. 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). For more information, visit www.iAnthus.com.