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iAnthus Capital rises as it posts small loss

Thursday, November 3, 2016 7:01
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(Before It's News)

iAnthus Capital Holdings Inc (CNSX:IAN), the pre-revenue investment company focused on the medical marijuana sector, made a small loss in the first half of the year.

At the end of June, the company had working capital of US$55,471, it said, in a routine half-year financial statement. Since then, the company has arranged a bought deal financing that will see it raise C$20mln in aggregate through the issue of 9.53mln units at C$2.10 a unit.

Operating expenses for the first half of 2016 amounted to US$40,518, versus expenses of US$8,764 the year before. The six-month operating loss was comprised of accounting and audit expenses of US$37,549, and office and miscellaneous expenses of US$2,969.

Shares in iAnthus rose 3.3% to C$3.10 on the release of the financial statement.

Story by ProactiveInvestors

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