Shares of iAnthus Capital Holdings Inc (OTCMKTS:ITHUF) continue to exhibit a lateral consolidation pattern that could presage an interesting breakout possibility should the stock move back above the key $6/share level. To make matters more interesting, the company just announced a licensing agreement entered into between its U.S. subsidiary and Blissiva, a women-owned, Maryland-based company specializing in producing and distributing medical cannabis products specifically formulated for women.
According to the release, “as per the licensing agreement, iAnthus will manufacture, market and sell a variety of Blissiva products in its markets, with initial launch in Maryland scheduled for April 20, 2019. Additionally, iAnthus has the exclusive right to launch Blissiva in its ten other existing states and across the United States.”
iAnthus Capital Holdings Inc (OTCMKTS:ITHUF), through its wholly-owned subsidiary iAnthus Capital Management, LLC, provides investors diversified exposure to “best-in-class” licensed cannabis cultivators, processors, and dispensaries throughout the United States. iAnthus currently owns, operates or has partnered with marijuana license holders in Massachusetts, Vermont, Colorado and New Mexico.
As reported, “founded by entrepreneurs with decades of experience in investment banking, corporate finance, law and healthcare services,” iAnthus provides a “unique combination” of capital and hands-on operating and management expertise. The Company leverages these skills to support “a diversified portfolio of cannabis industry investments for our shareholders.”
Moreover, iAnthus Capital Holdings, Inc. engages in the delivery of solutions for financing, developing, and managing state-licensed cannabis cultivators and dispensaries in the United States. The company is headquartered in New York, New York.
According to company materials, “iAnthus Capital Holdings, Inc. owns and operates best-in-class licensed cannabis cultivation, processing and dispensary facilities throughout the United States, providing investors diversified exposure to the U.S. regulated cannabis industry. Founded by entrepreneurs with decades of experience in operations, investment banking, corporate finance, law and healthcare services, iAnthus provides a unique combination of capital and hands-on operating and management expertise. The Company harnesses these skills to support operations across five states.”
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As noted above, ITHUF just announced a licensing agreement entered into between its U.S. subsidiary and Blissiva, a women-owned, Maryland-based company specializing in producing and distributing medical cannabis products specifically formulated for women.
We’ve witnessed 7% tacked on to share pricing for the stock in the past month. Moreover, the name has registered increased average transaction volume recently, with the past month seeing just shy of 120% above its longer-run average levels.
“We are extremely proud to partner with Blissiva in launching female-focused cannabis products into the market. Women represent one of the largest and fastest growing demographics of consumers in this industry, and there is currently a lack of products specifically designed to address their health and wellness needs. We believe that women should be able to ‘have it all,’ and I’m excited to be working with Dr. Apgar, a groundbreaking expert in women’s health, to fill the gap in the industry,” said Beth Stavola, Chief Strategy Officer of iAnthus.
Earning a current market cap value of $831.28M, ITHUF has a significant war chest ($15.6M) of cash on the books, which must be weighed relative to virtually no total current liabilities. ITHUF is pulling in trailing 12-month revenues of $3.1M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 56.1%. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $ITHUF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $ITHUF, either long or short, and we have not been compensated for this article.