iAnthus Opens 12th Florida Location, Announces Future Plans for State

iAnthus Capital Holdings (CSE: IAN) this morning announced that it has opened its twelfth dispensary location in the state of Florida as of this morning. More significantly, the firm also announced its intention of opening future locations within the growing medical-only state, where there are now just under 300,000 medical marijuana patients routinely accessing product.

The latest dispensary to open is located five minutes from downtown Stuart, a region with a population of approximately 470,000. The dispensary itself is located along US highway 1, a busy corridor in the region.

More significantly however, is the future plans that iAnthus has released related to its development of operations in Florida. The firm identified that “several” new locations are set to open in Florida in early 2020, which include locations in Pensacola, Tallahassee, and Largo pending regulatory approval. Additionally, “several” new locations are currently under construction, while ten more locations have been leased, demonstrating iAnthus’ commitment to growing in the Sunshine State.

The firm also made several product announcements, including that its latest “Master Growers Series” branded product was released this week, known as Rainmaker. The previous iteration of the release was sold out in three hours due to significant high demand. iAnthus has also begun deliveries of pre-rolls in the state, while a new product called “Littles,” named after the small-sized buds contained within, has hit store shelves as a value product. Finally, a new 1:1 CBD and THC product is expected to arrive in stores in late January, along with new high CBD and high THC product.

iAnthus Capital Holdings last traded at $1.75 on the CSE.

Update: Correction made to the brand name GrowHealthy uses in Florida, it was previously erroneously labelled as “Growers Circle.”

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.