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 (Investorideas.com 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.
Read this news in
full at http://www.investorideas.com/news/2017/marijuana/08031iAnthus.asp
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