It appears the end of the line is getting near for Canntrust Holdings (TSX: TRST) (NYSE: CTST) in terms of its public listings. The firm announced this morning that the TSX is reviewing its eligibility for listing on the exchange, as well as that it has received a final extension for the filing of required financial documents.
The TSX has granted an extension to the initial filing deadline of March 25, 2020, to that of April 16. Canntrust will be required to have filed all necessary financial documents by this point in time to remain listed on the TSX. If it fails to do so, the company will be delisted from the exchange within 30 days.
The exchange is also concurrently reviewing the eligibility for Canntrust to remain listed on the exchange as a result of being in arrears on its filings. A meeting to review the listing status of Canntrust has been set for April 14. The meeting will be conducted as a means for the TSX to determine whether to delist the company, as well as whether to suspend the trading in the firms securities.
Canntrust also announced that it had $159 million in the bank, while having no meaningful revenues and facing a variety of regulatory investigations and contingent liabilities.
Canntrust Holdings last traded at $0.62 on the TSX.
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.
