iAnthus Capital Holdings, Inc. announced that its wholly-owned subsidiary, MPX New Jersey LLC ("MPX NJ") will commence adult-use operations at its Atlantic City, New Jersey dispensary located at 153 S. New York Avenue on April 20, 2023, and is expanding its medical operations with the opening of its second New Jersey medical dispensary in Gloucester Township, located at 581 Berlin Cross Keys Road the week of April 23, 2023, after having received the requisite regulatory approvals from the New Jersey Cannabis Regulatory Commission ("CRC") during its April 13, 2023 public meeting. MPX NJ's expansion into adult-use also includes MPX NJ's cultivation and manufacturing facility in Pleasantville, New Jersey, which broadens the availability of MPX NJ's wholesale sales and distribution to all medical and adult-use operators within the state, including with respect to its Anthologie flower, Black Label cartridges and soon-to-be released MPX concentrates. These additional MPX NJ operations enable additional access to patients and customers in Southern New Jersey and across the state.

MPX NJ has a third dispensary location under construction in southern New Jersey, currently scheduled to be completed in Second Quarter 2023 and to be opened following receipt of the requisite regulatory approval by the CRC. Additionally, MPX NJ will seek approval by the CRC and local municipalities, as necessary, to further expand its permit to enable adult-use sales at its Gloucester Township dispensary and its third dispensary location at the appropriate time.