iAnthus Approved To Enter Adult Use Massachusetts Market

iAnthus Capital Holdings (CSE: IAN) will be proceeding with adult-use operations in the state of Massachusetts. The company announced this morning that it has secured approval from the Massachusetts Cannabis Control Commission for cultivation and processing of adult-use cannabis products at its Holliston facility.

The approval follows an inspection conducted by the commission back in December 2019. Following the approval, iAnthus’ Massachusetts operation is approved to begin its adult-use cultivation and processing activities on January 27, 2020 at its 36,000 square foot facility. The facility currently supplies the medical cannabis market within the state through the sale of Mayflower branded flower, prerolls and concentrates to that of iAnthus’ medical dispensary in Boston, as well as through wholesale sales to thirty other dispensaries in the state.

With the advent of receiving the license, the firm will now be able to cultivate cannabis and process it into products that include edibles, concentrates, dried flower, and other cannabis products for the adult-use market. iAnthus will then sell the product to its own adult-use dispensary in the state, which is anticipated to open in Worcester, as well as to the other 35 adult-use dispensaries within the state on a wholesale basis.

iAnthus Capital Holdings last traded at $2.06 on the CSE.

Information for this briefing was found via Sedar and iAnthus Capital. The author has no securities or affiliations related to these organizations. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.