MPX Receives Final Court Approval for Arrangement with iAnthus

The Supreme Court of British Columbia has approved iAnthus to acquire all issued and outstanding common shares of MPX.

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January 22, 2019

NEW YORK and TORONTO, Jan. 18, 2019 (GLOBE NEWSWIRE) -- PRESS RELEASE -- iAnthus Capital Holdings, Inc. and MPX Bioceutical Corporation have announced that the Supreme Court of British Columbia has issued a final order approving the previously announced plan of arrangement under the Business Corporations Act (British Columbia) pursuant to which iAnthus will acquire all of the issued and outstanding common shares of MPX pursuant to the terms of an Arrangement Agreement between iAnthus and MPX dated Oct. 18, 2018.

The closing of the Arrangement remains subject to certain customary closing conditions set out in the Arrangement Agreement. Assuming the timely satisfaction or waiver of these closing conditions, the Arrangement is expected to close on or about Jan. 30, 2019.

Further information about the Arrangement is available on the SEDAR profiles of iAnthus and MPX on SEDAR at www.sedar.com.

Upon closing of the Arrangement, MPX International Corporation, MPX’s spin-out company, will hold all of the non-U.S. businesses of MPX and will be focused on developing and operating assets across the global cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient. Initial key assets will include Canveda Inc. (a Canadian Licensed Producer), the Salus BioPharma Corporation agreement with Panaxia Pharmaceutical Industries Ltd. and 50 percent of a medical cannabis license application in Australia. MPX International has applied to list its securities on the Canadian Securities Exchange.