February 14, 2020 / 12:59 AM / 7 days ago

BRIEF-Canntrust Announces New CEO And Provides Updates On Remediation Plan And NYSE Listing

Feb 13 (Reuters) - CannTrust Holdings Inc:

* CANNTRUST ANNOUNCES NEW CEO AND PROVIDES UPDATES ON REMEDIATION PLAN AND NEW YORK STOCK EXCHANGE LISTING

* ANNOUNCED APPOINTMENT OF GREG GUYATT AS COMPANY’S CHIEF EXECUTIVE OFFICER

* ANTICIPATES THAT REMEDIATION ACTIVITIES AT COMPANY’S VAUGHAN FACILITY WILL REACH COMPLETION DURING Q2 OF 2020

* CANNTRUST HOLDINGS- INTERIM CEO MARCOVITCH WILL REMAIN WITH CO AS NON-EXECUTIVE CHAIR OF BOARD AND RESUME ROLE AS MEMBER OF SPECIAL COMMITTEE

* DAVID BLAIR, CURRENTLY COMPANY’S VICE-PRESIDENT OF FINANCE, WILL ASSUME ROLE OF INTERIM CFO

* COMPANY HAS INITIATED A PROCESS TO IDENTIFY A PERMANENT CFO

* CANNTRUST HOLDINGS- WILL BE SUBMITTING ON FEB 14, 2020 DOCUMENTATION TO HEALTH CANADA FOR COMPLETION OF CO’S REMEDIATION ACTIVITIES AT NIAGARA FACILITY

* THAT IT HAS RECEIVED EXTENSION FOR CONTINUED LISTING AND TRADING OF CO’S COMMON SHARES ON NEW YORK STOCK EXCHANGE

* SPECIAL COMMITTEE APPOINTED BY BOARD TO FOCUS ITS ATTENTION ON IDENTIFYING AND CONSIDERING POTENTIAL STRATEGIC ALTERNATIVES

* NO ASSURANCE CAN BE GIVEN THAT HEALTH CANADA WILL REINSTATE EITHER NIAGARA OR VAUGHAN FACILITY LICENSES

* EXTENSION GRANTED BY NYSE PROVIDES CO WITH AN ADDITIONAL TRADING PERIOD THROUGH APRIL 15, 2020 Source text for Eikon: Further company coverage:

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