iAnthus Capital Holdings Inc. (CSE:IAN) has announced it has received a cultivation permit from the New Jersey Department of Health, and thus has approval to begin cultivation operations at the company’s Pleasantville facility. In addition, iAnthus is expecting to open a medical dispensary in the state commencing in the first quarter of 2020.
iAnthus was granted the cultivation permit on February 3, 2020, and the company plans to begin operations as soon as construction has been fully completed. The Pleasantville facility will be 33,000 square feet in size with the potential to increase to 83,000 square feet, and will include a cultivation division as well as a kitchen. The company is expecting its first harvest at the facility to be sometime in the second quarter of 2020.
Furthermore, iAnthus is projecting to open its first medical cannabis dispensary in Atlantic City in the first quarter of 2020. This dispensary will be operating as a retail store under the name Be., and will be approximately 1,300 square feet in size. Depending on the outcome of cannabis legalization for adult use, the company is planning to open an even bigger retail store in the future.
iAnthus Capital Holdings Inc is a US-based company which cultivates, processes and dispenses cannabis products across the United States, and is currently trading at $1.83 on the CSE.
Information for this briefing was found via Sedar and iAnthus Capital Holdings Inc. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.