Mr. Hadley Ford reports

IANTHUS ANNOUNCES CLOSING OF $34.5 MILLION BOUGHT DEAL FINANCING

iAnthus Capital Holdings Inc. has its previously announced bought deal offering of 5,188,800 common shares of the company at a price of $6.65 per common share for aggregate gross proceeds to the company of $34,505,520.

The syndicate for the offering was led by GMP Securities LP, and included Canaccord Genuity Corp., Cormark Securities Inc., Beacon Securities Ltd., Echelon Wealth Partners Inc. and PI Financial Corp.

The number of common shares sold by iAnthus included an aggregate of 676,800 common shares offered and sold pursuant to an overallotment option granted to the underwriters that was exercised in full prior to closing.

The common shares in the offering were offered and sold by way of a short form prospectus filed in each of the provinces of Canada, excluding the province of Quebec.

"We continue to remain opportunistic in all aspects of our business operations at iAnthus, and this capital raise helps facilitate that," said Hadley Ford, chief executive officer of iAnthus. "As we look to further build out our multistate retail operation and pursue strategic acquisition targets in additional states, we are well equipped to make the investments needed to support strong growth opportunities."

The company intends to use the net proceeds from the offering for capital expenditures for capacity expansion, working capital and general corporate requirements.

About iAnthus Capital Holdings Inc.

iAnthus Capital Holdings owns and operates best-in-class licensed cannabis cultivation, processing and dispensary facilities throughout the United States, providing investors diversified exposure to the U.S. regulated cannabis industry. Founded by entrepreneurs with decades of experience in operations, investment banking, corporate finance, law and health care services, iAnthus provides a unique combination of capital and hands-on operating and management expertise.

We seek Safe Harbor.