image

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.

At New Cannabis Ventures, Alan Brochstein looks at what the pandemic means for pot stocks.

Grizzle sees a potential bull market in “booze, smokes and pot.”

Quick Hit

  1. California operator Caliva launched its new delivery service independent of former partner Eaze
    TechCrunch
  2. Green Market Report lists 11 top cannabis law firms.