Oct 14 (Reuters) - CannTrust Holdings Inc TRST.TO :
* CANNTRUST ADVANCES ITS PLAN TOWARDS REGULATORY COMPLIANCE
* BOARD HAS DETERMINED THAT IT IS NECESSARY TO DESTROY APPROXIMATELY $12 MILLION OF BIOLOGICAL ASSETS
* EXACT AMOUNT OF MATERIAL DESTROYED WILL BE VALIDATED & VERIFIED ONCE DESTRUCTION IS COMPLETE
* BOARD HAS DETERMINED IT IS NECESSARY TO DESTROY ABOUT $65 MILLION WORTH OF INVENTORY THAT WAS NOT AUTHORIZED BY CANNTRUST'S LICENCE
* WILL PROVIDE A DETAILED REMEDIATION PLAN TO HEALTH CANADA ON OR BEFORE OCTOBER 21
* UNABLE TO PROCESS MATERIAL BEING DESTROYED OR SELL IT TO OTHER LICENSED PRODUCERS
* REMEDIATION PLAN TO AIM TO ADDRESS MEASURES IDENTIFIED BY HEALTH CANADA AS NECESSARY FOR REINSTATEMENT OF CO'S LICENSES
* WILL NOT CHALLENGE HEALTH CANADA'S PARTIAL SUSPENSIONS