CannTrust

CannTrust stock drops 30% after second facility breaches marijuana regulations

Besieged Canadian cannabis grower CannTrust was notified that a facility was recently deemed noncompliant with a host of federal cannabis regulations – the second significant breach at its facilities in just over a month. The company said it accepted Health Canada’s findings, which were delivered after markets closed Friday. Heath Canada’s July 10-16 inspection of […]

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Auditor withdraws cannabis firm CannTrust’s financial report amid controversy

The independent auditor for Canadian marijuana company CannTrust has taken the uncommon step of withdrawing its report on the Ontario company’s financial statements for the quarter ending March and full-year 2018. It’s the latest blow amid an ongoing scandal involving unlicensed marijuana cultivation by CannTrust that has cast a dark cloud across Canada’s cannabis industry. […]

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Marijuana firm CannTrust faces probe by Ontario regulators, police

Cannabis cultivator CannTrust Holdings disclosed the company is under investigation by securities regulators and the police, the latest blow to hit the embattled Ontario firm. The company said in a news release that the Ontario Securities Commission (OSC) has opened an investigation “into matters and parties related to CannTrust.” The agency assigned the case to […]

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CannTrust hires adviser to explore possible sale amid cannabis scandal

A week after CannTrust Holdings fired its CEO over a scandal involving unlicensed marijuana cultivation, the Canadian producer hired a financial adviser to review “strategic alternatives,” including a possible sale of the company. CannTrust said an internal committee has retained Greenhill & Co. Canada to review how the firm could proceed, with options that include: […]

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CannTrust chaos continues with ousting of CEO, chairman resignation

Ontario, Canada-based licensed producer CannTrust fired its chief executive, Peter Aceto, “with cause” Thursday amid an ongoing scandal involving unlicensed cannabis cultivation that has enveloped the marijuana industry in Canada for weeks. The company also demanded, and received, the resignation of its longtime chairman, Eric Paul. “The investigation into the company’s noncompliance with Health Canada regulations […]

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Week in Review: CannTrust’s cannabis regulatory woes, Florida MMJ caps, push for Congress’ support of STATES Act & more

CannTrust is zapped by Health Canada for unlicensed cannabis cultivation, Florida’s medical marijuana license caps and vertical integration regulations are ruled unconstitutional, marijuana advocates urge a U.S. Congressional panel to support states-rights marijuana legislation – plus more of the week’s top marijuana business headlines. Bad week for Canadian marijuana grower Ontario company CannTrust was hit […]

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Embattled CannTrust halts marijuana sales; Canada’s supply shortfall could worsen

CannTrust Holdings halted all sales of cannabis products while Canada’s federal regulator inspects its Vaughan, Ontario, manufacturing facility. The Ontario company received a “noncompliant” rating earlier this week from Health Canada for operating five unlicensed rooms. That means CannTrust’s 72,000 registered medical cannabis patients will have to look to other producers to fill their orders, likely […]

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Canadian retailer pulls CannTrust’s recreational marijuana goods from shelves

Embattled Canadian cannabis cultivator CannTrust was dealt another blow after its recreational products were yanked from the shelves of Canada’s largest marijuana retailer. Daffyd Roderick, director of communications for the Ontario Cannabis Store (OCS), the province’s online retailer and wholesale distributor, confirmed to BNN Bloomberg that CannTrust’s products weren’t available for sale. “Due to the […]

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Cannabis oversupply in Canada may be closer than some expect, bank warns

One of Canada’s top banks acknowledged the adult-use cannabis industry’s rocky start but still expects to see “substantial growth” for the rest of the year as supply constraints are alleviated. Scotiabank also warned that the cannabis market will become heavily oversupplied in the medium to long term. “Producers we have spoken to are generally aware […]

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