Mr. Richard Proud reports

IANTHUS PROVIDES UPDATE ON EXECUTIVE TEAM

iAnthus Capital Holdings Inc.'s Robert Galvin will transition out of his role as interim chief operating officer of the company, effective immediately. Mr. Galvin joined the company as senior vice-president and chief administrative officer in 2019, and served the company in many roles before being named interim chief operating officer on Nov. 27, 2020, and has served in that role since that time.

"On behalf of the company, I would like to thank Bob for his contributions and commitment to iAnthus over the last four years. Bob has been a consistent part of the company since 2019 and played a key role in leading the company both through and after its recent restructuring, and we wish him the best in all his future endeavours," said Richard Proud, chief executive officer of the company. "iAnthus has a strong leadership team in place to continue executing on our growth strategy."

Mr. Galvin will continue to be available to the company as a strategic adviser and serve in a consulting role to help ensure a successful transition. "I am grateful to have had the opportunity to serve and lead iAnthus in my various roles. iAnthus has a tremendous team of people and is well positioned to take the next steps in its development," said Mr. Galvin. "I look forward to Richie and the management team executing an exciting strategy to move the company forward."

About iAnthus Capital Holdings Inc.

iAnthus owns and operates licensed cannabis cultivation, processing and dispensary facilities throughout the United States.

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