iAnthus Provides Update on Planned Florida Expansion, New Brand Launches, and New Jersey Bridge Notes

Executive Summary

• iAnthus announced the upcoming opening of its 26th GrowHealthy dispensary in Tequesta, Florida (target date ≈ Mar 27 2026).
• The company launched “The Vault” brand in New Jersey, expanding its product portfolio.
• iAnthus and its subsidiary entered into amendment agreements to extend the maturity of its senior secured bridge notes from Feb 16 2026 to Jun 24 2027, incurring a 2% amendment fee on the outstanding principal (~US$8.4 M).

Key Details

• Florida Retail Expansion:
• Dispensary location: 19510 U.S. Highway 1, Tequesta, FL 33469.
• Scheduled opening: on or about March 27 2026, pending regulatory approvals.

• Hours of operation: Mon‑Sat 9:00 a.m.–8:30 p.m.; Sun 9:00 a.m.–8:00 p.m.

• New Jersey Brand Launch:

• Introduction of “The Vault,” a curated archive of legacy cannabis genetics, now available to New Jersey consumers.

• Bridge Note Amendment (Capital Structure):

• Parties: iAnthus Capital Holdings, Inc., iAnthus New Jersey, LLC, and related‑party lenders (Gotham Green Partners, Oasis Management Company, Senvest Management).
• Original bridge notes issued: Feb 2 2021.
• Extended maturity date: from February 16 2026 to June 24 2027.
• Amendment fee: 2% of principal amount, payable on the new maturity date.
• Outstanding principal as of Feb 16 2026: approximately US$8.4 million.

• Transaction qualifies as a related‑party transaction under MI 61‑101 but is exempt from valuation and minority‑shareholder approval because it does not exceed 25% of market capitalization.

• Regulatory/Compliance Note:

• No material change report filed 21 days prior to the amendment closing, as transaction structure was not finalized at that time.

Notable Quotes

“The Tequesta store is designed to better serve patients in northern Palm Beach County with convenient access to high‑quality cannabis products,” – Richard Proud, CEO, iAnthus Capital Holdings.