IANTHUS DEFAULTS ON DEBT

Shares in iAnthus fell 62% after the “deeply unprofitable” MSO defaulted on its debt.
Seeking Alpha

• At Seeking Alpha analyst Jon Cooper says the company will likely need to renegotiate with its creditors, a process complicated by iAnthus currently suing one of its creditors.
• MJ Biz wrote up the suit against Texas-based Oasis Investments.
• iAnthus stock is currently trading around $.19 per share. 
• iAnthus’ main dispensary brand is Be. It recently became the first dispensary to open in New York City’s Staten Island. 
• The company also announced it is investigating potential conflicts of interest regarding CEO Hadley Ford. 
• Equity Guru suggests the default could be a “tactic.”
• WeedWeek interviewed iAnthus CEO Hadley Ford a few months ago.
• The company’s largest creditor is Gotham Green Partners which has close ties to Canadian producer Cronos Group and has renegotiated MedMen‘s debt several times.
• Do you have additional information? Email me at alex@weedweek.net. Sources will be protected.

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