iAnthus issues notice of redemption for MPX Luxembourg convertibles

Chicago, March 25 – iAnthus Capital Holdings, Inc. has issued a notice of redemption for $32.26 million of the convertible debentures of its wholly owned subsidiary, MPX Luxembourg Sarl.

The notes are redeemable for $860.43 per $1,000 principal amount of notes.

Prior to the redemption, noteholders will have the right to convert the principal amount of their notes into units of iAnthus. Each unit consists of 0.1673 of one common share of iAnthus and 0.08365 of one common share purchase warrant at a conversion price of 74 cents per unit at any time prior to close of business on April 23. Holders electing to convert will receive 1,729.80 units for each $1,000 principal amount.

Noteholders who do not deliver a notice of conversion will have their debentures redeemed on the redemption date.

The redemption date will be April 24.

The units to be issued on conversion of the notes are heavily “in the money.” The company believes the vast majority of noteholders will elect to convert their notes prior to April 23.

iAnthus is an operator of cannabis cultivation, processing and dispensary facilities throughout the United States. It is based in New York and Toronto.

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