iAnthus Announces Q4 and Fiscal 2017 Financial Results

iAnthus Capital Holdings (CSE:IAN; OTCQB:ITHUF) revealed its financial results for the fourth quarter and fiscal 2017 year.

As quoted in the press release:

As we look ahead to fiscal year 2018, iAnthus will continue to be opportunistic in building our network in high growth U.S. markets. The U.S. cannabis market still represents a vast untapped potential, and we plan to remain well-funded and flexible to create shareholder value through strategic opportunities when they arise. While we will not always want to be the first to market, we feel it is crucial to seize unique opportunities when they are available.

Financial Highlights:

• Revenue in FY 2017 totaled US$2.4 million, representing a 615% increase from FY 2016;
• Net loss for the period was US$13.7 million, primarily attributable to increased costs as a result of the Company’s expansion into additional states. Non-cash expenses and other items for the period totaled US$8.1 million, resulting in an adjusted net cash loss of US$5.6 million;
• Invested capital for FY 2017 totaled approximately US$23.7, million bringing the company’s total invested capital to date to approximately US$98.7 million;
• Closed a C$12.0 million short-form prospectus offering and concurrent C$4.5 million non-brokered private placement in November, 2017;
• Closed a US$20.0 million private placement debenture in January, 2018; and
• Full financial results are available on SEDAR.

Click here to read the full press release.

Source: www.newswire.ca