Receives approval from Metropolis of Worcester to open adult-use retailer in Massachusetts’ second largest market, continues to scale cultivation and manufacturing capability
NEW YORK, July 26, 2019 /PRNewswire/ – iAnthus Capital Holdings, Inc. (“iAnthus” or the “Firm”) (CSE: IAN) (OTCQX: ITHUF), which owns, operates, and companions with best-in-class regulated cannabis operations throughout the USA, is happy to announce a number of current milestones in Massachusetts.
On July 18th, the Metropolis of Worcester License Fee voted to situation iAnthus’ subsidiary, Mayflower Medicinals, Inc., a Retail Marijuana License to function an adult-use dispensary. Worcester is the second largest metropolis in Massachusetts, with a metropolitan space inhabitants of roughly 923,000. This Retail Marijuana License will enable the Firm to function a 2,837 sq. ft. facility positioned at 645 Park Avenue. The Firm will proceed to work with the Massachusetts Hashish Management Fee to obtain ultimate approval from the state to start operations.
The Firm’s medical marijuana cultivation and processing facility in Holliston has been operational since January 2018. Along with supplying Mayflower Medicinals’ medical dispensary in Boston with prime quality flower, pre-rolls, distillate, and edibles, the Holliston facility additionally provides over 18 different medical dispensaries within the state on a wholesale foundation. In anticipation of the rise in demand, together with extra distillate and edibles, the Firm not too long ago put in new extraction tools that has elevated extraction productiveness on the facility by over seven instances.
Lastly, the Firm is finalizing its working plans to open a second cultivation and processing facility in Massachusetts. Given the sturdy wholesale demand for the Firm’s merchandise and the anticipated enhance in demand from the opening of the Worcester dispensary, the Firm anticipates opening a cultivation and processing facility in Fall River (acquired with MPX) in late 2019. The 37,700 sq. ft. facility will embrace hydrocarbon extraction tools to allow the manufacturing of BHO extracted merchandise, together with the Firm’s common MPX line.
About iAnthus Capital Holdings, Inc.
iAnthus Capital Holdings, Inc. owns and operates best-in-class licensed cannabis cultivation, processing and dispensary services all through the USA, offering buyers diversified publicity to the U.S. regulated cannabis trade. Based by entrepreneurs with many years of expertise in operations, funding banking, company finance, legislation and well being care providers, iAnthus gives a singular mixture of capital and hands-on working and administration experience. iAnthus at present has operations in 11 states, together with 23 dispensaries (AZ-4, MA-1, MD-3, FL-5, NY-2, CO-1, VT-1 and NM-6 the place iAnthus has minority possession). For extra info, go to www.iAnthus.com.
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