Beth Stavola resigned as chief strategy officer and board director for troubled multistate cannabis operator iAnthus Capital Holdings.
The company did not expound on the resignation of Stavola, who previously served as a senior vice president at Wall Street firm Jefferies & Co. before joining MPX Bioceuticals. MPX merged with iAnthus in 2018.
Stavola is the second iAnthus board director to resign this year, following the May resignation of Mark Dowley.
New York-based iAnthus, which maintains offices in Toronto, is in the midst of a restructuring and recapitalization effort after defaulting on interest payments in June.
The company said the decision to terminate the merger was mutual, citing a “prolonged timeline to achieve the necessary conditions to close combined with the adverse market conditions surrounding the industry and broader economy.”
Written by Solomon Israel.
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Marijuana Business Daily