iAnthus Capital Holdings, Inc. announced that Gotham Green Admin 1, LLC, as collateral agent holding security for the benefit of the holders of the Company's 13.0% Senior Secured Debentures has provided the Company and its wholly-owned subsidiary, MPX Bioceutical ULC ("MPX"), with a demand for repayment (the "Demand Letter") under the Amended and Restated Secured Debenture Purchase Agreement dated October 10, 2019 (the "Purchase Agreement") of the entire principal amount, together with interest, fees, costs and other allowable charges that have accrued or may accrue in accordance with the Purchase Agreement and the other Transaction Agreements. The Collateral Agent also concurrently provided both the Company and MPX with a Notice of Intention to Enforce Security (the "BIA Notices") under section 244 of the Bankruptcy and Insolvency Act (Canada) (the "BIA"). Pursuant to section 244 of the BIA, the Collateral Agent shall not enforce the security over the collateral granted by the Company and MPX until the expiry of 10 days after sending the BIA Notices unless the Company and MPX consent to an earlier enforcement of the security.

The Company and MPX do not intend to consent to earlier enforcement and are exploring available options.