This press release is issued pursuant to Multilateral Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues

NEW YORK, June 27, 2022 /CNW/ - On June 24, 2022  iAnthus Capital Holdings Inc. (the "Company") closed  its previously announced recapitalization transaction (the "Recapitalization Transaction"), pursuant to the terms of a restructuring support agreement (the "Restructuring Support Agreement"), dated July 10, 2020 and as amended on June 15, 2021, between the Company, all of the holders of the 13% senior secured convertible debentures issued by iAnthus Capital Management, LLC and a majority of the holders of the 8% unsecured convertible debentures (the "Unsecured Debentures") issued by the Company.

The implementation of the Recapitalization Transaction resulted in various changes to the corporate governance and capital structure of the Company.  The Recapitalization Transaction closed pursuant to the terms of a plan of arrangement under the Business Corporations Act (British Columbia), which was approved by the Supreme Court of British Columbia on October 5, 2020 (the "Plan of Arrangement").

Pursuant to the Plan of Arrangement, the Company issued 936,189,371 Common Shares ("Shares") to Senvest Master Fund, LP and 126,512,078 Shares to Senvest Global (KY), LP.,  (collectively, "Senvest") in exchange for and settlement of a portion of the indebtedness represented by the Unsecured Debentures. The Shares issued to Senvest represent approximately 17% of the issued and outstanding Shares following completion of the Restructuring Transaction.  

The securities of the Company noted above were acquired for investment purposes and Senvest and/or one or more of its affiliates may, depending on market and other conditions, increase or decrease its beneficial ownership of Shares or other securities of the issuer whether in the open market, by privately negotiated agreement or otherwise.

The Company is located at 420 Lexington Avenue, New York, New York, 10019. Senvest is located at 540 Madison Avenue, 32^nd Floor, New York, New York 10022. A copy of the early warning report to which this news release relates can be obtained by contacting Senvest at (212) 202-3250 or on the Company's SEDAR profile at www.sedar.com. 

SOURCE Senvest Management, LLC

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