Zitat:"iAnthus Capital Holdings Inc. has signed a letter of intent to acquire Citiva Medical LLC (Citivav NY), which holds one of the 10 vertically integrated medical marijuana licences in New York State, and Citiva LLC (Citiva USA), ..... iAnthus will acquire 100 per cent of Citiva NY and Citiva USA and certain operating subsidiaries for approximately $18-million (U.S.), which includes $3.6-million (U.S.) payable in cash and approximately $14.4-million (U.S.) payable in iAnthus common shares priced at $2.40 (U.S.) per share, subject to the terms of a collar. As a registered organization under the New York medical cannabis program, Citiva NY's licence includes a cultivation and processing facility and four dispensary locations, which will be located in Brooklyn, Staten Island, Dutchess county and Chemung county. ....Concurrently, iAnthus is announcing the termination of its previous term sheet with Gloucester Street Capital LLC (GSC) and its operating subsidiary, Valley Agriceuticals LLC. "We continue to believe New York is a growth market," said Hadley Ford, chief executive officer of iAnthus. "Unfortunately, we were unable to reach definitive legal agreements with GSC despite our best efforts."..."Our investors expect us to find ways to create value in the high growth U.S. cannabis market," ..... Citiva NY and Citiva USA, is a highly successful New York city entrepreneur who founded a medical business with over $50-million in annual revenues that includes a long-term care pharmacy, retail pharmacies and a compounding pharmacy focused on pain management, with four locations in and around New York city. In addition, Citiva NY's dispensary locations in Brooklyn and Staten Island will provide immediate access to more than 10 million people in the New York city metropolitan area...... We will be able to leverage that access with a management team that has developed relationships with more than 800 physicians and a proven track record of delivering specialized prescription medication to patients. We believe this will be a winning combination." .. "ENDE Zitat Source:https://www.stockwatch.com/News/...494844&symbol=IAN®ion=C |