CannTrust

Court approves Canadian marijuana producer CannTrust’s restructuring plan

A court approved a plan for troubled Canadian marijuana producer CannTrust Holdings to reorganize under Canada’s Companies’ Creditors Arrangement Act (CCAA), the Ontario-based business said. CannTrust expects the plan approved by the Ontario Superior Court of Justice to be implemented within three to five months, according to a Friday afternoon news release. However, the plan’s […]

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Health Canada unaware CannTrust exec was under investigation when cannabis licenses reinstated

Health Canada says it was not aware a member of cannabis producer CannTrust’s board was under investigation by securities regulators and police when the federal regulatory agency reinstated the licenses for two of the company’s production sites in 2020 after an illicit cultivation scandal. The executive, Mark Litwin, was one of three former CannTrust officials […]

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Health Canada declines to fine cannabis companies for violations, opting for other penalties

Canada’s top cannabis regulator chose not to fine CannTrust and Bonify Medical Cannabis despite significant violations of the rules governing the country’s marijuana industry – including illegal cultivation and sale. In fact, Health Canada has not issued fines – known as administrative monetary penalties – to any cannabis business since recreational legalization in late 2018, […]

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CannTrust to resume cannabis sales in Alberta, British Columbia and Ontario

Cannabis producer CannTrust said it’s returning to the Canadian recreational marijuana market this month as the embattled company looks to open a new chapter more than a year after being censured for serious regulatory violations. The Vaughan, Ontario-based company plans to start by launching adult-use brands in December in three provinces, the company said in […]

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Ontario Cannabis Store report shows Aurora leading flower sales, COVID-19 sales boost

New data released by the Ontario Cannabis Store (OCS) reveals key details about marijuana sales and consumer preferences in Canada’s largest province, including: Total provincial sales approached 400 million Canadian dollars ($297.6 million) for the OCS fiscal year. Recreational cannabis sales are dominated by dried flower and pre-rolls amid a limited early rollout of edibles, […]

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Beleave joins growing list of Canadian cannabis insolvencies

Beleave has become the latest in a wave of Canadian cannabis companies seeking creditor protection. The Toronto-based company will apply for a creditor protection order from the Ontario Superior Court of Justice on Friday, according to a news release. The company has arranged a debtor-in-possession loan from Hegedus Consulting Service to fund the proceedings under […]

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Health Canada reinstates some CannTrust cannabis licenses

Federal cannabis licenses for one of CannTrust’s facilities were reinstated, about nine months after the embattled Ontario producer was hit with suspensions over legal and regulatory breaches. In September, Health Canada suspended the licenses held by CannTrust for its Niagara and Vaughan sites over noncompliance with the Cannabis Act and regulations. Now, Health Canada said […]

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Cannabis producer Aphria moving US listing to Nasdaq from NYSE

Canadian cannabis cultivator Aphria is moving its U.S. stock listing to a new venue, departing the New York Stock Exchange (NYSE) in favor of the Nasdaq Global Select Market. The move will take place after markets close on Friday, June 5. Shares of Aphria will start trading on the Nasdaq as of Monday, June 8 […]

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Hexo received NYSE warning in early April over low stock price

Hexo is the latest Canadian cannabis producer to run afoul of the New York Stock Exchange’s continued listing standards because of a low stock price. The Ontario-based company was warned by the NYSE last month that its shares, which have fallen below $1, do not meet the exchange’s listing standards. Hexo said it receiving the notification April 7 before notifying […]

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