[PRESS RELEASE] – NEW YORK and TORONTO, Dec. 30, 2024 – iAnthus Capital Holdings Inc., which owns, operates and companions with regulated hashish operations throughout the USA, introduced that it entered into an asset acquire settlement with Cheetah Enterprises Inc., pursuant to which iAnthus will gain the Cheetah vape emblem, a fast-growing emblem identified for its top class high quality and disruptive presence in Illinois’ hashish marketplace.
This acquisition marks a key milestone in iAnthus’ ongoing method to raise its portfolio of consumer-focused hashish manufacturers and pressure long-term enlargement. The Cheetah emblem has transform synonymous with innovation and high quality, providing top class are living resin vape merchandise that experience captured the eye of hashish lovers. By way of bringing Cheetah into its emblem portfolio, iAnthus expands its presence within the Illinois and Pennsylvania hashish markets with additional growth deliberate during 2025.
The purchase is predicted to strengthen iAnthus’ income enlargement whilst giving Cheetah the assets and distribution community to building up its marketplace penetration in Illinois and different key states. With iAnthus’ expansive footprint, this transaction creates a trail for Cheetah to transform a countrywide chief within the vape class, providing a brand new stage of pleasure and selection for hashish shoppers. In combination, iAnthus and Cheetah will leverage shared assets, operational efficiencies and a unified emblem method to capitalize on enlargement alternatives around the nation.
As a part of the purchase, Michael Piermont, co-founder and CEO of Cheetah, will sign up for iAnthus as leader business officer. Piermont’s revel in in using enlargement, emblem building, and generation innovation—together with his tenure as leader income officer of Leaf Business, which was once effectively got by way of LeafLink in November 2024—might be instrumental in maximizing the possibility of Cheetah and iAnthus’ broader emblem portfolio.
“We’re development a platform the place daring manufacturers can thrive, and Cheetah suits that mould completely,” iAnthus CEO Richard Proud stated. “Cheetah’s leading edge method to the vape marketplace mirrors the agility, precision and velocity with which we are development iAnthus. This acquisition offers us the momentum to win with shoppers, increase into new markets and produce top-industry skill into our group.”
Piermont stated, “From day one, Cheetah’s venture has been about being fearless, instant and leading edge to our shoppers—qualities that obviously align with iAnthus’ imaginative and prescient for the way forward for hashish. We are extremely joyful to enroll in forces with a group that acknowledges the ability of brand name authenticity, the affect of considering out of doors the field and the significance of staying forward of the curve on this {industry}.”
Transaction Main points
Pursuant to the acquisition settlement, iAnthus will gain considerably all the property of vendor that relate to and are used in reference to the vendor’s hashish wholesale trade, together with the manufacture, advertising and marketing and sale of hashish distillate vaporizer merchandise in the states of Illinois and Pennsylvania underneath the “Cheetah” emblem, however aside from positive excluded property (jointly, the “bought property”), in conjunction with positive assumed liabilities associated with the bought property.
The acquisition worth for the bought property contains: not unusual stocks within the capital of the corporate (“stocks”) at an mixture deemed price of roughly US$1.5 million (the “percentage attention”), to be issued in 3 tranches. The stocks are issued at a deemed worth of US$0.012, which is a top class to the present marketplace worth for the stocks. The stocks might be issued post-closing in 3 tranches and are topic to Canadian Securities Trade approval. The acquisition worth additionally contains nonmaterial money bills in 4 installments payable upon of entirety of positive efficiency benchmarks and extra earnout attention in response to EBITDA generated by way of the emblem after ultimate and likely different efficiency metrics, payable in money at quite a lot of periods till April 1, 2028.
The stocks to be issued as the proportion attention might be issued pursuant to a prospectus exemption underneath Canadian securities legislation and might be topic to a Canadian preserving length expiring 4 months and an afternoon from the date(s) of issuance. The stocks might be issued pursuant to an exemption from the registration necessities underneath the USA Securities Act of 1933, as amended (the “U.S. Securities Act”) equipped by way of Rule 903 of Law S promulgated underneath the U.S. Securities Act.
The stocks have no longer been, nor will they be, registered underneath the U.S. Securities Act, and will not be presented or bought in the United States or to, or for the account or good thing about, “U.S. individuals” (as such time period is outlined in Law S underneath the U.S. Securities Act) absent registration or an exemption from the registration necessities of the U.S. Securities Act and appropriate state securities regulations. The stocks might be issued as “limited securities” as outlined in Rule 144(a)(3) underneath the U.S. Securities Act.
