iAnthus Subsidiary GrowHealthy Begins Delivery in Florida, Signs Orlando Dispensary Lease
NEW YORK and TORONTO, March 15, 2018 (GLOBE NEWSWIRE) — iAnthus Capital Holdings, Inc. (“iAnthus” or “the Company”), (CSE:IAN) (OTCQB:ITHUF), which owns, operates, and partners with licensed cannabis operations throughout the United States, is pleased to announce that its 100% owned subsidiary, GrowHealthy Holdings, LLC (“GrowHealthy”), has commenced delivery to patients in Florida and has signed a lease for a dispensary location in Orlando, Florida.
GrowHealthy’s delivery program currently offers vape cartridges, tinctures, and oral dispensing syringes to patients state-wide. Delivery will continue to be augmented by the opening of its dispensaries in West Palm Beach, Tampa and Orlando, beginning in Q3 2018.
GrowHealthy’s 1,900 sf. ft. Orlando dispensary location is located off a major highway in one of the most densely populated areas of Orlando. The property will provide ample parking and is situated at cross streets where the average traffic per day is more than 60,000 vehicles. The dispensary is expected to open in Q3 2018.
GrowHealthy’s first three dispensaries are strategically situated in key population areas in Florida, with a total addressable market of 11.2 million people. Total dispensary square footage in GrowHealthy’s first three dispensaries will span approximately 8,500 sq. ft.
GrowHealthy initiated its cultivation program in April 2017 with phase one of its 200,000 square foot indoor cultivation facility. In preparation for the launch of its delivery program and dispensary locations, GrowHealthy has thousands of plants under cultivation with current plant and inventory valued at approximately US$2 million.
GrowHealthy continues to make great progress with the recent signed dispensary leases and the launch of our delivery program. In the next few quarters, we expect that GrowHealthy will have opened dispensaries in at least three of Florida’s largest metro regions, Orlando, West Palm Beach, and Tampa. These locations will be crucial towards driving value for our investors and growing our overall footprint.
Carlos Perea, Chief Operating Officer of iAnthus
Additional information about iAnthus may be accessed on the Company’s website at www.iAnthusCapital.com and under the Company’s SEDAR profile at www.sedar.com.
About iAnthus Capital Holdings, Inc.
iAnthus Capital Holdings, Inc. owns and operates best-in-class 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 health care services, iAnthus provides a unique combination of capital and hands-on operating and management expertise. The Company uses these skills to support operations across six states. For more information, visit www.iAnthusCapital.com.
About GrowHealthy Holdings, LLC.
GrowHealthy Holdings, LLC and its affiliates were formed in 2014 to apply for a license as a Dispensing Organization under the original Florida low-THC medical cannabis program through its affiliated partner, McCrory’s Sunny Hill Nursery, LLC (“McCrory’s”). McCrory’s was licensed as a Dispensing Organization by the Florida Department of Health on December 21, 2016, and then subsequently licensed on July 5, 2017 to cultivate, process, transport, and dispense full-strength medical cannabis as one of only thirteen Medical Marijuana Treatment Centers under the new Medical Use of Marijuana Act passed in June 2017.
