The Toronto Stock Exchange (TSX) said it would delist CannTrust’s shares if the Ontario cannabis producer is unable to file relevant financial statements by March 25, 2020.
A review will be conducted on the company’s eligibility for continued listing on the stock exchange, CannTrust disclosed this week.
The review is a result of CannTrust being late in satisfying certain disclosure requirements, particularly:
- Restated audited financial statements for the year ended Dec. 31, 2018.
- Restated interim financial statements for the first quarter of 2019.
- Interim financial statements for the second and third quarters of 2019.
- Management’s discussion and analysis (MD&A) for the corresponding periods.
For its part, CannTrust said it anticipates filing those disclosures before the March 25, 2020 deadline.
However, if it fails to file the documents by the deadline, the company’s shares will be delisted by the end of April 2020.
“The company continues to make progress in working with its independent auditor in connection with preparing its financial statements and corresponding MD&A,” CannTrust said in a news release.
In the meantime, the company’s securities will continue trading om the TSX as TRST.