iAnthus Capital Holdings Inc. (ITHUF) held an investor meeting in New York City Thursday evening in which the company stressed that it was undervalued. Certainly, in light of the recent valuation placed on MedMen by Captor Capital, it would look undervalued.

MedMen’s Chief Executive Officer Adam Bierman had said that his company received an investment of $30 million for 3% which would give the company a valuation of $1 billion. MedMen only owns 12 dispensaries at this time, while other companies with more dispensaries haven’t seemed to capture that same price. Of course, valuation is what a market will bear and doesn’t necessarily correlate to book value.

iAnthus meanwhile staged an impressive presentation. The company noted that it has eight cultivation facilities, five processing facilities and 41 dispensaries (assuming buildout of all 25 GrowHealthy dispensaries.) In addition to that, iAnthus is operating in six states, skipping California and focusing instead on the east coast.

In Colorado, the company owns its key assets 100% and is a market share leader in a popular ski town. It is also in the top five operators for the state. It has 25% ownership in a New Mexico investment and is one of the market share leaders in this state as well. In Vermont, the company has 100% ownership of Grass Roots Vermont.

Hadley Ford, Chief Executive Officer of iAnthus also stated that it has 100% ownership of its Massachusetts property and will be one of only three dispensaries in Boston. He told the crowd about how he used to live in Boston and explained how the student population swells every year. With recreational sales expected to begin in July, Ford said that he believes the Mayflower dispensary will be a big hit with students who may be stressed over college life.

iAnthus also has 100%

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