NEW YORK and TORONTO , Aug. 20, 2019 /CNW/ – iAnthus Capital Holdings, Inc. (“iAnthus” or the “Company”) (CSE: IAN, OTCQX: ITHUF), which owns, operates, and partners with best-in-class regulated cannabis operations across the United States , is pleased to announce that it has entered into a term sheet and is actively negotiating definitive documents for a senior secured term loan of up to US$50 million (the “Term Loan”) from one or more investment funds managed by Torian Capital Partners (collectively, “Torian Capital”), an investor in the global cannabis industry. The Term Loan is expected to be made available in two tranches of US$25 million , each with substantially similar terms.
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The net proceeds of the Term Loan, when completed, will be used to support iAnthus’ near-term growth efforts, which are expected to include ongoing expansion of iAnthus’ Florida footprint and the build-out of new Be. retail locations in Nevada , New Jersey and New York .
“Reducing our cost of capital has been one of our key goals for this year. We believe this is a great opportunity to add strength to our balance sheet as we continue to invest in