CannTrust

Cannabis producer CannTrust to be delisted from NYSE on April 27

The New York Stock Exchange has informed the U.S. Securities and Exchange Commission that it intends to delist the shares of beleaguered Canadian cannabis producer CannTrust on April 27, according to a public notification filed by the exchange. The April 27 date, first reported by New Cannabis Ventures, is almost two weeks ahead of the […]

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Toronto Stock Exchange to delist CannTrust shares May 6

Embattled Canadian cannabis producer CannTrust shares will be delisted from the Toronto Stock Exchange on May 6 after market close, according to a TMX Group notice. TMX Group cited CannTrust’s “failure to meet continued listing requirements” as the reason for the action. CannTrust also disclosed the decision in an April 9 news release. In March, the […]

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Number of Danish medical cannabis consumers plummets on CannTrust suspension

The number of patients accessing Denmark’s medical cannabis pilot program nearly halved in the third quarter of 2019, largely because of supply interruptions related to Canadian producer CannTrust’s regulatory misconduct. Unique consumers fell to 582 in the July-September period from 1,045 in the April-June quarter, according to Danish Health Authority data published last week. The […]

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NYSE aims to boot CannTrust after concluding cannabis producer ‘no longer suitable for listing’

The New York Stock Exchange’s regulatory enforcement arm has initiated the delisting process for CannTrust after concluding the Canadian cannabis producer “is no longer suitable for listing.” NYSE Regulation said Tuesday it reached its decision after the Ontario-based company obtained a creditor protection order from the Ontario Superior Court of Justice. “The Company has a right to a review […]

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Canada cannabis licensing inspections delayed due to COVID-19, CannTrust says

Health Canada is slowing down on-site field inspections of cannabis facilities until the end of the month amid the COVID-19 pandemic, according to a disclosure from beleaguered cannabis producer CannTrust. Reduced field inspections could slow the pace at which the federal marijuana production regulator issues new licenses and amendments, presenting a new challenge to Canadian […]

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CannTrust’s low stock price prompts another NYSE warning

Beleaguered Canadian cannabis producer CannTrust has been notified by the New York Stock Exchange that it is once again not compliant with listing rules because of its low stock price. The NYSE requires the average closing price of common shares to be at least $1 over a consecutive 30 trading-day period. As of Feb. 25, […]

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CannTrust to destroy CA$77 million in cannabis plants, inventory

Embattled CannTrust Holdings on Monday disclosed it plans to destroy 77 million Canadian dollars ($58.2 million) worth of cannabis plants and inventory as part of the Ontario company’s efforts to regain its suspended business licenses. The company said in a news release its board “has determined that it is necessary to destroy approximately CA$12 million of […]

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Embattled Canadian marijuana firm CannTrust lays off 180

Scandal-plagued CannTrust, an Ontario-based cannabis grower, laid off 180 employees, or 20% of its workforce. “We have made the extremely difficult decision to restructure our workforce to reflect the current requirements of our business,” Robert Marcovitch, CannTrust’s interim CEO said in a news release. The layoffs are expected to save the company about 9 million Canadian […]

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