Pot Co. IAnthus' Lenders Seek More Time To Close Debt Plan

By Sam Reisman (August 23, 2021, 7:24 PM EDT) -- Cannabis company iAnthus announced Monday that its creditors have sought to unilaterally extend the deadline for closing its debt reorganization plan until regulators in a handful of states grant change-of-ownership approvals necessary for the deal to go through.

According to iAnthus, cannabis-focused private equity firm Gotham Green Partners has petitioned a Canadian court either to ratify the deadline extension or amend the restructuring plan to bar iAnthus from terminating the agreement without a court order.

"No hearing date for the application has been set," iAnthus said in its announcement Monday. "IAnthus intends to respond to the application and ask that it...

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