iAnthus Capital Holdings (CSE: IAN) (OTCQX: ITHUF) has announced that it has achieved several regulatory milestones in Massachusetts lately.
On July 18th, the City of Worcester License Commission voted to issue a retail marijuana license to iAnthus’ subsidiary Mayflower Medicinals to operate an adult-use dispensary. The license will allow the company to run a 2,837-sq.-ft. facility at 645 Park Avenue. The company will require final approval from the Massachusetts Cannabis Control Commission to commence operations.
Worcester is the second-largest city in Massachusetts, with a metropolitan area population of approximately 923,000.
Further, iAnthus said that its medical marijuana cultivation and processing facility in Holliston is now supplying flower, pre-rolls, distillate and edibles to Mayflower Medicinals’ medical dispensary in Boston and to more than 18 other medical dispensaries in the state on a wholesale basis.
Finally, the company reported that it is finalizing its operating plans to open a second cultivation and processing facility in Massachusetts.
Given the strong wholesale demand and the anticipated increase in demand from the opening of the Worcester dispensary, the company anticipates opening a cultivation and processing facility in Fall River in late 2019. The 37,700 sq. ft. facility will include hydrocarbon extraction equipment to enable the production of BHO extracted products, including the company’s MPX line.
iAnthus owns and operates licensed cannabis cultivation, processing and dispensary facilities throughout the U.S. The company currently has operations in 11 states, including 23 dispensaries.