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Pot producer CannTrust's license to produce, sell cannabis suspended

Published 2019-09-17, 03:36 p/m
Updated 2019-09-17, 03:40 p/m
© Reuters. Pot producer CannTrust's license to produce, sell cannabis suspended

Sept 17 (Reuters) - Troubled Canadian pot grower CannTrust Holdings Inc TRST.TO said on Tuesday its license to produce and sell cannabis has been suspended by Health Canada.

CannTrust had delayed its second-quarter results last month awaiting a decision from Canada's health regulator on a large amount of inventory put on hold after discovery of illegal cultivation by the company.

Last month, Health Canada found fault with cannabis production at a second CannTrust Holdings Inc facility, a month after the regulator froze sales of several tonnes of marijuana grown at another one of its Ontario operations. Health Canada found the unlicensed pot cultivation, CannTrust fired Peter Aceto as chief executive officer, while Eric Paul resigned as chairman.

The company had said in July it was exploring a possible sale.

On Tuesday, CannTrust said its management and board were reviewing the notice with the company's counsel and other advisers.

Latest comments

your knot,ether!lol
so which company is guiding CanTrust in regaining their licence?
Why are some of the most intelligent people do stupid things and think they get away with it. Greed is the answer. They lose sight of things like following the rules, taking care of shareholders.
u know the answer, $$$
Who said there some of the most intelligent people?
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