Ontario Court Grants Extension Of Pot Co. IAnthus Takeover

By Katryna Perera (October 13, 2021, 9:20 PM EDT) -- A judge on the Ontario Superior Court of Justice has affirmed an extension of the planned takeover of cannabis giant iAnthus by cannabis-focused private equity firm Gotham Green Partners LLC, despite iAnthus' arguments that the restructuring plan approved by courts and shareholders didn't give the lenders the authority to extend the deadline.

Justice Michael A. Penny released his decision on Tuesday and said the definition of the closure date included in the approved restructuring plan allows the lender to consent to an automatic extension unilaterally.

The closure date, referred to in the agreement as the "outside date," and its extension is not...

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