iAnthus Capital Holdings, Inc. Announces DTC Eligibility for OTCQB-Quoted Common Shares and Announces Stock Option Grant
Common Shares are quoted on the OTCQB under the symbol "ITHUF"
TORONTO, ON and NEW YORK, NY -- (Marketwired) -- 04/03/17 --
iAnthus Capital Holdings, Inc. ("iAnthus" or the "Company"), (CSE: IAN)(OTCQB: ITHUF), a provider of capital investment and management services to licensed cannabis cultivators, processors and dispensaries throughout the United States, is pleased to announce that the Company has obtained eligibility with The Depository Trust Company ("DTC") for its common shares listed on the OTCQB. DTC is a subsidiary of the Depository Trust & Clearing Corp. and manages the electronic clearing and settlement of share transactions for publicly-traded companies.
The Company's common shares are quoted for trading on the OTCQB, a U.S. interdealer quotation system, under the symbol "ITHUF". iAnthus' common shares principally trade and are listed on the Canadian Securities Exchange under the symbol "IAN".
iAnthus is also pleased to announce that it is pursuing electronic eligibility (DWAC/FAST) which allows DTC participants to deposit stock into a brokerage account electronically. This electronic method of clearing securities speeds up the receipt of shares and cash, and thus generally accelerates the settlement process for investors.
In addition, the Company announces that as of March 31, 2017, it has granted incentive stock options, exercisable at CAD $3.10, to purchase up to an aggregate of 835,000 common shares, to consultants and employees of the Company. The total grant includes 200,000 stock options granted to The Green Solution, LLC ("TGS") in relation to the advisory agreement entered into with the Company as announced on February 6, 2017, to provide operational expertise and advice in support of the Company's investments around the U.S. TGS, through its affiliate TGS National Franchise, LLC ("TGS National Franchise") will also facilitate introductions to franchisee operators in multiple states across the U.S., presenting the Company with significant opportunities for additional financing and equity-based investment partnerships with TGS National's franchisee operators.
All stock options are exercisable for a period of 10 years, subject to any earlier termination in accordance with their terms. The 835,000 options have the following vesting periods:
- 565,000 options vest at a rate of 12.5% on June 30, 2017, and 12.5% quarterly thereafter; and
- 270,000 options vest at a rate of 25% on June 30, 2017, and 25% quarterly thereafter.
The aforementioned stock options are subject to applicable regulatory filings.
About iAnthus Capital Holdings, Inc.
iAnthus Capital Holdings, Inc., through its 100% 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. The Company harnesses these skills to support a diversified portfolio of cannabis industry investments for our shareholders. 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 statements related to the DTC electronic eligibility and regulatory filings associated with the incentive stock options.
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.
Chief Financial Officer
iAnthus Capital Holdings, Inc.
Nicole Marchand Investor Relations
Blue Chip Public Relations, Inc.
Source: iAnthus Capital Holdings, Inc.
Released April 3, 2017