iAnthus Capital Holdings, Inc. (“iAnthus” or the “Company”) (CSE: IAN) (OTCQX: ITHUF), which owns, operates, and partners with best-in-class regulated cannabis operations across the United States, is pleased to announce it has received approval to commence operations at its Pleasantville, NJ cultivation campus. MPX New Jersey, an affiliate of iAnthus, is the ninth Alternative Treatment Center (ATC) in the state to receive a cultivation permit. This marks the tenth state in iAnthus’ operational footprint.
On February 3, 2020, the New Jersey Department of Health issued MPX New Jersey a permit to cultivate at the Company’s Pleasantville cultivation facility. The 33,000-square-foot facility, when fully built, will include an extraction lab and kitchen as well as cultivation. The facility is expandable to 83,000 square feet and the first harvest is expected in the second quarter of 2020.
The Company’s first medical dispensary in New Jersey is expected to open in Atlantic City in the first quarter of 2020. The 1,300-square-foot facility, located just off the boardwalk on S. New York Avenue, will open as a Be. retail store and will service Atlantic City’s estimated 24 million annual visitors.