Mayflower Medicinals Opens Flagship Cannabis Dispensary in Boston
NEW YORK and TORONTO, July 19, 2018 /PRNewswire/ - iAnthus Capital Holdings, Inc. ("iAnthus" or "the Company"), (CSE: IAN, OTCQB: ITHUF), which owns, operates and partners with licensed cannabis operations throughout the United States, is pleased to announce that Mayflower Medicinals, Inc. ("Mayflower"), a Massachusetts non-profit Registered Marijuana Dispensary ("RMD") license holder affiliated with the Company, is opening its flagship medical cannabis dispensary in Boston.
Located in the neighborhood of Allston, the dispensary will offer patients a full spectrum of medical cannabis products in the form of flower, tinctures, concentrates, oils and vaporizers. Mayflower is the second license holder to open a dispensary within the city of Boston. This inaugural Mayflower location is the 34th dispensary to open within the commonwealth of Massachusetts, which has a population of approximately 6.7 million people.
"As we open the doors to our new dispensary, we look forward to taking on an overarching responsibility to provide patients with cannabis-based therapeutic products for alleviation of medical symptoms," said Hadley Ford, CEO and co-founder of iAnthus. "Our dispensary agents have undergone extensive training on products, consumption methods and the endocannabinoid system, and will act as a reliable source for cannabis education for the public. We look forward to further developing a relationship with the community of Boston and adding both jobs and revenue to the community."
The new dispensary will be supplied by Mayflowers' fully operational cultivation and processing facility located in Holliston, Massachusetts. The 36,000 sq. ft. facility has the capability to produce up to 2,625 kg of product annually and has been cultivating product since January 2018.
Mayflower launched its Patient Home Delivery Program on June 25 which now services the towns of Arlington, Boston, Brookline, Cambridge, Charleston, Chelsea, East Boston, Everett, Malden, Medford, Milton, Quincy, Revere, Somerville and Watertown.
About iAnthus Capital Holdings, Inc.
iAnthus Capital Holdings, Inc. 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 healthcare services, iAnthus provides a unique combination of capital and hands-on operating and management expertise. The Company uses these skills to support operations across six states. For more information, visit www.iAnthusCapital.com.
About Mayflower Medicinals, Inc.
Mayflower Medicinals is a "patient-first" non-profit healthcare organization, dedicated to providing the highest-quality medical cannabis products and services in a safe, secure and professionally managed environment in the Commonwealth of Massachusetts. Mayflower has received a final license for its Boston Dispensary and Holliston cultivation and production facility, as well as a provisional license for an additional RMD. Mayflower has a third application for an RMD license pending. Mayflower is affiliated with iAnthus Capital Management, LLC and Randy Maslow, Hadley Ford and John Henderson of iAnthus are members of the five-person Mayflower Board of Directors.
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, our vision" and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, build out of existing assets, additional strategic opportunities, proposed allocation of capital, and other statements of fact.
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.
SOURCE iAnthus Capital Holdings, Inc.
Released July 19, 2018