Welcome!

News Feed Item

New Legislation to Improve Vermont's Medical Cannabis Program

iAnthus and Grassroots Vermont weigh in on new legislation in Vermont that significantly expands the state's medical marijuana program

TORONTO, ON and NEW YORK, NY--(Marketwired - July 17, 2017) - iAnthus Capital Holdings, Inc. ("iAnthus" or "the Company"), (CSE: IAN) (CSE: IAN.CN) (CNSX: IAN) (OTCQB: ITHUF), which owns, operates, and partners with licensed cannabis operations throughout the United States, provides the following update on the completion of the 2017 Vermont legislative session and the passage into law of S.16, a bill that significantly expands the state's medical cannabis program.

As the sole provider of financing and management services to Grassroots Vermont ("Grassroots"), one of the four non-profit entities currently licensed to dispense medical cannabis to patients across the state, iAnthus views Governor Scott's recent signing of S.16 as a significant stepping stone for the expansion of the state's legal cannabis market. S.16 adds Crohn's Disease, Parkinson's Disease, and Post-Traumatic Stress Disorder to Vermont's list of qualifying conditions. The new law also provides Grassroots with the ability to expand its operations by opening an additional dispensary location, in addition to its existing dispensary in Brandon.

"We support the efforts made by the state to make the medical cannabis program more accessible to Vermont's qualified patients," says Alex Ford, Executive Director of Grassroots. "We look forward to securing our second dispensary location so that we can provide more patients with the highest quality, affordable medical cannabis."

Grassroots is currently upgrading its cultivation facility in Brandon, Vermont. The improvements are expected to increase yields, support consistent harvest cycles, and improve product quality year-round, and is expected to be completed in Q3 2017. This infrastructure, combined with operational expertise provided by iAnthus, has laid the foundation for ample production capacity to serve a significantly larger patient population from the new medical expansion if required.

During Vermont's 2017 legislative session, lawmakers also considered the legalization of cannabis for adult use. While an adult use bill was passed by both the Vermont House and Senate, the bill was vetoed by the Governor, who nevertheless indicated a willingness to support adult use legislation in the future provided that certain concerns were addressed to his satisfaction. With the legalization of adult use in Massachusetts and Maine this past November, it is expected that an amended version of the 2017 bill will be considered during the next legislative session. If passed, Vermont's adult use cannabis market could exceed US$100 million, according to the 2015 "Considering Marijuana Legalization -- Insights for Vermont and Other Jurisdictions" report from the RAND Corporation.

"While it is impossible to be certain that the state will revisit legalization of cannabis for adult use in the 2018 legislative session, Governor Scott has certainly expressed his willingness to work with lawmakers on this initiative, and I believe we are likely to see another adult use bill proposed in the next legislative session," said Randy Maslow, President of iAnthus.

S.16 also allows existing license holders to convert from a non-profit organization into a for-profit entity, an opportunity that Grassroots is currently exploring with iAnthus. As of June 30, 2017, iAnthus has provided Grassroots with a credit facility of US$775,000.

About iAnthus Capital Holdings, Inc.

iAnthus Capital Holdings, Inc. provides investors diversified exposure to best-in-class licensed cannabis cultivators, processors and dispensaries throughout the United States. Founded by entrepreneurs with decades of experience in investment banking, corporate finance, law and healthcare services, iAnthus provides a unique combination of capital and hands-on operating and management expertise. The Company harnesses these skills to support a diversified portfolio of cannabis industry investments for our shareholders. For more information, visit www.iAnthuscapital.com.

About Grassroots Vermont

Grassroots Vermont provides pure, effective and affordable medical marijuana to patients across Vermont from its Rutland County dispensary. Founded and operated by a local Vermont family, Grassroots provides patients with a healthier approach to natural wellness. Grassroots cultivates its own indoor marijuana using health-conscious methods and offers a variety of world-class, natural products. For more information, visit www.grassrootsvermont.com.

Forward Looking Statements

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in iAnthus' periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.

Forward-looking statements may include, without limitation, statements including statements related to the completion of the upgrades to Grassroots' cultivation facility in Brandon, Vermont, Vermont marijuana market updates, and the development and expansion of Vermont's medical cannabis market.

Although iAnthus has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US Federal laws; change in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.

There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. iAnthus disclaims any intention or obligation to update or revise such information, except as required by applicable law, and iAnthus does not assume any liability for disclosure relating to any other company mentioned herein.

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

CONTACT INFORMATION

Corporate:
Julius Kalcevich
iAnthus Capital Holdings, Inc.
646-518-9415
[email protected]

US Investors:
Phil Carlson / Elizabeth Barker
KCSA Strategic Communications
[email protected]

Canadian Investors:
Nicole Marchand
Nicole Marchand Investor Relations
[email protected]

Media:
Robert Vanisko
North 6th Agency
[email protected]
(212) 334-9753 ext. 112

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
DX World EXPO, LLC, a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Conference Guru has been named “Media Sponsor” of the 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great deals to gre...
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develop...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...