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Rhode Island
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ITALIAN THAI DEV (ITHUF) - iAnthus Posts 93 5% Surge In Revenue, 232% Increase In Gross Profit YoY Despite 2020 Setbacks
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Cannabis cultivator
iAnthus (OTC:ITHUF) struggled to raise cash when behind-the-scenes drama prevented the New York-based company from inking a deal with potential buyers.
Per New Cannabis Ventures, a leading multistate operator, or MSO, had been interested in buying iAnthus for $200 million. Not only did the deal not pan out, it wasn t even presented to the board, the Monday report said.
That s according to a leaked recording of former iAnthus CEO Hadley Ford. New Cannabis said it received the recording anonymously, determined it was legitimate and said it occurred in October.
The name of the potential MSO buyer was not disclosed.
Judge rules in favor of N.J. dispensary in battle with big weed company
Updated Dec 23, 2020;
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A New Jersey medical marijuana company gained back some control of its operations Wednesday when a court ruled that the cannabis giant who invested in it and then allegedly tried to take control must take some steps back.
MPX NJ, which received a license in 2018 to grow marijuana in Pleasantville and dispense it in Atlantic City, filed a suit in the Superior Court of Monmouth County last week against iAnthus. The license holder claimed iAnthus has hijacked its operations after investing $10 million, attempting to negotiate deals with state and local officials and undertake unauthorized construction at the growing facility.