Thursday, August 3, 2017

New York State Department of Health Approves iAnthus (CSE: IAN) (CSE: IAN.CN) (CNSX: IAN) (OTCQB: ITHUF) Proposed Acquisition of Valley Agriceuticals

New York State Department of Health Approves iAnthus (CSE: IAN) (CSE: IAN.CN) (CNSX: IAN) (OTCQB: ITHUF) Proposed Acquisition of Valley Agriceuticals
Valley Agriceuticals Granted Operating License and Dispensary Locations

TORONTO, ON and NEW YORK, NY - August 3, 2017 ( Newswire) iAnthus Capital Holdings, Inc. ("iAnthus" or "the Company"), (CSE: IAN) (CSE: IAN.CN) (CNSX: IAN) (OTCQB: ITHUF), which owns, operates, and partners with licensed cannabis operators throughout the United States, is pleased to announce that the New York State Department of Health ("DOH") has approved the Company's proposed acquisition of Valley Agriceuticals, LLC ("Valley Agriceuticals"), as set forth in a binding term sheet between the parties signed in June 2017 (the "Binding Term Sheet"). The state also announced that Valley Agriceuticals has officially been granted a license as a Registered Organization under the medical marijuana program of the State of New York.
Per the license from the state, Valley Agriceuticals has been granted dispensary locations in King's County ("Brooklyn"), Dutchess County, Oneida County and Suffolk County, as well as approval for cultivation and manufacturing operations in its facility in Wallkill, NY. With the dispensary location in Brooklyn, Valley Agriceuticals will have a presence in the second most densely populated county in the United States. If counted as a standalone city, Brooklyn would be the fourth most populous city in the United States with an estimated 2.6 million residents, smaller than only New York City as a whole, Los Angeles and Chicago. The Suffolk County location also exposes Valley Agriceuticals to a large market of approximately 1.5 million residents.

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