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 New York Stock Exchange’s regulatory enforcement arm initiated the delisting process after concluding the producer “is no longer suitable for listing.”

The NYSE said its decision was reached after the Ontario-based company obtained a creditor protection order from the province’s Superior Court of Justice.

“As a result of the CCAA filing, trading in shares on the TSX and NYSE were halted and delisting proceedings for both exchanges were initiated,” the Vaughan producer said in a statement to Marijuana Business Daily.

A TSX spokeswoman added: “They are currently suspended, and it is anticipated that they will continue to be suspended until they are delisted.”

CannTrust said it was granted a “relief” of its partial license suspension by Health Canada.

“The company will now be permitted to propagate mother plants in accordance with agreed-upon terms from Health Canada,” CannTrust noted in its statement.

CannTrust is among a number of cannabis businesses entering creditor protection in recent months.

So far, that list includes:

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4 comments on “Toronto Stock Exchange to delist CannTrust shares May 6
  1. Tony Cane on

    Did I read correctly that Health Canada has granted Cann Trust a partial relief of their suspension?
    And will this do anything for them?

    Reply
  2. surinder latti on

    Will the canntrust be trading again from May 6th? .. If not, what will happen to the stocks of canntrust, which I have already bought?

    Reply
  3. Rod on

    I have 393 shares in Canntrust. I bought them a couple of years back and am a real novice as far as the stock exchange. Will these always remain worthless?

    Reply

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