iAnthus Capital Holdings, Inc. (CSE: IAN) (OTCPK: ITHUF), which owns, operates and partners with regulated cannabis operations across the United States, announces that it has closed an $11 million bridge financing funded by certain lenders (collectively, the "Lenders") affiliated with the counterparties to the previously announced restructuring support agreement dated July 10, 2020, being the holders of all of the 13% senior secured convertible debentures issued by iAnthus Capital Management, LLC and the holders of 91% of the principal amount of 8% convertible unsecured debentures issued by the Company.

The Company's wholly-owned subsidiary, iAnthus New Jersey, LLC ("iAnthus NJ"), has issued $11 million aggregate principal amount of senior secured bridge notes (the "Secured Notes"), due February 2, 2023, subject to an earlier maturity in the event the Company completes an equity financing resulting in at least $10 million in net proceeds to the Company. The Secured Notes will accrue interest at the rate of 14.0% per annum (decreasing to 8.0% upon completion of the Company's previously announced recapitalization transaction (the "Recapitalization Transaction")), payable quarterly, in kind, commencing on March 31, 2021. The Secured Notes are secured by a security interest in all of the assets of iAnthus NJ. The Company has provided a guarantee in respect of all of the obligations, indebtedness and liabilities of iAnthus NJ under the Secured Notes.

About iAnthus

iAnthus owns and operates licensed cannabis cultivation, processing and dispensary facilities throughout the United States. For more information, visit www.iAnthus.com.