Canntrust Holdings (OTC: CTST) appears to, somehow, be on the mend. The company announced this morning that it has managed to see its licenses for its Fenwick, Ontario facility reinstated by Health Canada despite the actions that occurred last year.
The license reinstatement follows the mid-February announcement made by the firm that remediation efforts had been completed and fully submitted for review on February 14, 2020. The firm subsequently submitted similar documentation for its Vaughn, Ontario facility on April 24, 2020.
While the Fenwick facility will see its operations startup again almost immediately, the company has cautioned that it cannot as of yet provided a timeline for when Canntrust products will return to store shelves. This is a direct result of manufacturing functions occurring at the Vaughn facility, for which license reinstatement has not occurred, and more importantly, is not guaranteed.
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Canntrust Holdings remains under creditor protection, and as a result, has been delisted from both the TSX as well as the New York Stock Exchange. It currently only trades on the US OTC Markets.
Canntrust Holdings last traded at $0.24 on the OTC.
Information for this briefing was found via Sedar and CannTrust Holdings Inc. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
