Cannabis multistate operator iAnthus Capital Holdings is selling two Arizona marijuana stores and a cultivation facility to Sonoran Roots for $36.5 million.
The price will consist of $20 million in cash payable at closing and a $16.65 million secured promissory note issued by Sonoran, according to a Friday news release.
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Sonoran, based in Tempe, is acquiring iAnthus’ two adult-use and medical marijuana stores as well as a cultivation and processing facility in Mesa.
New York- and Toronto-headquartered iAnthus said it plans to maintain a presence in Arizona through its stores in Crismon and Mesa.
The deal, expected to close during the first quarter, is part of iAnthus’ efforts to “optimize its portfolio, strengthen its balance sheet, and focus on markets with the greatest
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