Multistate hashish operator iAnthus Capital Holdings obtained a demand for repayment on a secured debenture issuance in addition to a discover of intention to implement safety below Canadian chapter regulation.

New York-based iAnthus defaulted on curiosity funds on that debt in April and expects to default on funds once more on the finish of June.

The debt totaled $159.1 million as of June 11, iAnthus stated earlier this month.

The firm, which is within the midst of a strategic evaluation, stated monetary adviser Cannacord Genuity “has received several expressions of interest, including expressions of interest, which if completed, would repay the secured debentures in full and in cash.”

The firm trades on the Canadian Securities Exchange as IAN.

However, buying and selling of iAnthus shares on that trade was suspended Tuesday after a cease-trade order.

In the information launch issued Tuesday, iAnthus stated the cease-trade order adopted its failure to file steady disclosure paperwork by a June 15 deadline.

The firm operates 35 marijuana dispensaries in eight states, together with Arizona, Colorado, Florida, Maryland, Massachusetts, New Mexico, New York and Vermont.

Former iAnthus CEO Hadley Ford stepped down in April after an investigation into undisclosed private loans totaling $160,000.

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