Canntrust Holdings (OTC: CNTTQ) this morning announced that it has received notice from Health Canada that its license for its Vaughan, Ontario facility manufacturing facility have been reinstated, effective immediately. The announcement follows the news earlier this year that its license had been reinstated at its Fenwick facility.
As a result, the company has already indicated that it intends to restart cultivation activities at the Vaughan facility “imminently.” Cultivation at the firms Fenwick facility previously recommenced operations as well. Cannabis products produced by the company are expected to hit the market by the end of the year as a result.
“Today marks the beginning of the next chapter in CannTrust’s history. We have used the last 12 months to improve every aspect of our business, placing a determined focus on regulatory compliance as we remediated, restructured, and evolved. We are excited to return to work with our partners to provide our consumers and patients with high-quality cannabis products.”
Greg Guyatt, Chief Executive Officer at CannTrust
Despite the reinstatement of licenses, the company remains within the CCAA process as it works through its mountain of civil litigation in relation to the events that unfolded last year. Canntrust is also said to still be in the process of strategic review as it works towards determining where to go from here.
Canntrust Holdings last traded at US$0.31 on the OTC Markets.
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.
