Report of Voting Results

NEW YORK and TORONTO, Dec. 5, 2019 /PRNewswire/ - 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 report the results for the Annual General & Special Meeting of Shareholders (the "Meeting") of iAnthus held on Thursday, December 5, 2019 at 10:00 a.m. (Eastern Time).

iAnthus shareholders were asked to approve the election of directors, the appointment of Marcum LLP as auditors, and the special resolution to alter the Notice of Articles and the Articles of the Company. A detailed description of all matters voted on is contained in the Information Circular and Proxy Statement dated October 21, 2019. ("Information Circular").

"I would like to thank our shareholders for their overwhelming support for our new, majority independent Board of Directors and be the first to welcome Robert Whelan, Michael Muldowney, Diane Ellis, Mark Dowley and Joy Chen to the iAnthus family. I would also like to thank our out-going Board members, Julius Kalcevich, Robert Galvin, Robert Petch and Paul Rosen for their past and continued support and guidance. Julius Kalcevich will continue in his leadership role at the Company as Chief Financial Officer," stated Hadley Ford, CEO of iAnthus.

An aggregate of 88,227,439 common shares of iAnthus (being 51.4% of the common shares eligible to be voted at the Meeting) were represented at the Meeting. The vote on each matter was conducted by ballot. The manner in which the ballots were cast in respect of each matter is set out below.

1. Election of Directors:

The following eight nominees were elected to serve as directors of iAnthus until the next annual meeting of shareholders or until their successors are duly elected or appointed. Biographies for each of the upcoming board members can be found at www.newswire.ca/news-releases/ianthus-to-nominate-five-new-independent-directors-837614897.html.

Nominee Votes For % For Withheld % Withheld Against % Against Hadley Ford 52,157,949 99.03% 513,264 0.97% - - Randy Maslow 51,840,939 98.42% 830,274 1.58% - - Elizabeth Stavola 51,853,572 98.45% 817,641 1.55% - - Robert M. Whelan, Jr. 52,184,835 99.08% 486,378 0.92% - - Michael P. Muldowney 52,170,321 99.05% 500,892 0.95% - - Diane M. Ellis 52,188,498 99.08% 482,715 0.92% - - Mark Dowley 52,170,752 99.05% 500,461 0.95% - - Joy Chen 52,184,318 99.08% 486,895 0.92% - -













2. Appointment of Auditors: 87,035,843 98.79% 1,066,049 1.21% - - 3. Notice of Articles: 51,987,073 98.70% - - 684,140 1.30%

About iAnthus

iAnthus. owns and operates best-in-class licensed cannabis cultivation, processing and dispensary facilities throughout the United States, providing investors diversified exposure to the U.S. regulated cannabis industry. Founded by entrepreneurs with decades of experience in operations, investment banking, corporate finance, law and health care services, iAnthus provides a unique combination of capital and hands-on operating and management expertise. iAnthus currently has operations in 11 states, and operates 28 dispensaries (FL-10, AZ-4, MA-1, MD-3, NY2, CO-1, VT-1 and NM-6 where iAnthus has minority ownership). For more information, visit www.iAnthus.com.

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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SOURCE iAnthus Capital Holdings, Inc.