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CannTrust Holdings Inc (TRST.TO)

TRST.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Canntrust Advances Its Plan Towards Regulatory Compliance
Monday, 14 Oct 2019 

Oct 14 (Reuters) - CannTrust Holdings Inc ::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.  Full Article

Canntrust Discloses Notice Of Licence Suspension
Wednesday, 18 Sep 2019 

Sept 17 (Reuters) - CannTrust Holdings Inc ::CANNTRUST DISCLOSES NOTICE OF LICENCE SUSPENSION.CANNTRUST HOLDINGS INC - RECEIVED LATE THIS MORNING A NOTICE OF LICENCE SUSPENSION UNDER SECTION 64(1) OF CANNABIS ACT.CANNTRUST HOLDINGS INC - NOTICE STATES THAT HEALTH CANADA SUSPENDED CANNTRUST'S AUTHORITY TO PRODUCE CANNABIS.CANNTRUST HOLDINGS INC - NOTICE CITES COMPANY'S PREVIOUS NON-COMPLIANCE WITH CERTAIN REQUIREMENTS OF CANNABIS ACT (CANADA).CANNTRUST HOLDINGS INC - MANAGEMENT AND BOARD OF DIRECTORS ARE REVIEWING NOTICE WITH COMPANY'S COUNSEL AND OTHER ADVISORS.CANNTRUST HOLDINGS INC - "REMAINS COMMITTED" TO BEING IN FULL REGULATORY COMPLIANCE.CANNTRUST HOLDINGS INC - WHILE SUSPENSION REMAINS IN EFFECT, CANNTRUST WILL BE PERMITTED TO CULTIVATE AND HARVEST EXISTING LOTS.CANNTRUST HOLDINGS INC - OVER PAST TWO MONTHS, COMPANY HAS MOVED TO ASSESS AND ADDRESS HEALTH CANADA'S CONCERNS.CANNTRUST HOLDINGS INC - NOTICE STATES THAT HEALTH CANADA WILL REINSTATE CANNTRUST'S LICENCES IF REASONS FOR SUSPENSION NO LONGER EXIST.CANNTRUST HOLDINGS INC - HEALTH CANADA HAS SUSPENDED CANNTRUST'S AUTHORITY TO PRODUCE CANNABIS, OTHER THAN CULTIVATING & HARVESTING, TO SELL CANNABIS.CANNTRUST - DURING SUSPENSION, MAY NOT PROPAGATE NEW LOTS OR BATCHES OF CANNABIS OR ENGAGE IN SALE OR DISTRIBUTION OF CANNABIS.  Full Article

Canntrust Says Reduced Its Workforce By About 180 People Or 20%
Friday, 6 Sep 2019 

Sept 5 (Reuters) - CannTrust Holdings Inc ::CANNTRUST AFFIRMS ITS COMMITMENT TO REGULATORY COMPLIANCE AND RESTORING TRUST.AS PART OF ITS REVIEW OF OPERATIONS, CANNTRUST REDUCES WORKFORCE AND SPEND WHILE PRESERVING KEY TALENT.CANNTRUST REDUCED ITS WORKFORCE BY APPROXIMATELY 180 PEOPLE, OR 20%.REDUCED WORKFORCE EXPECTED TO RESULT IN ANNUAL CASH SAVINGS OF ABOUT $9 MILLION.MAJORITY OF AFFECTED EMPLOYEES WERE IN CULTIVATION AND CUSTOMER SERVICE SUPPORT ROLES.  Full Article

CannTrust Says Intends To Fully Perform Its Obligations Under Master Cannabis Supply Agreement Between Co, Ontario Cannabis Store
Monday, 19 Aug 2019 

Aug 19 (Reuters) - CannTrust Holdings Inc ::CANNTRUST STATEMENT REGARDING NOTICE OF PRODUCT RETURN AT ONTARIO CANNABIS STORE.CANNTRUST HOLDINGS INC - RECEIVED A NOTICE FROM ONTARIO CANNABIS STORE.CANNTRUST HOLDINGS INC - INTENDS TO FULLY PERFORM ITS OBLIGATIONS UNDER MASTER CANNABIS SUPPLY AGREEMENT BETWEEN COMPANY AND OCS.CANNTRUST - NOTICE ADVISES THAT OCS DETERMINED CERTAIN OF CO'S PRODUCTS SOLD TO OCS ARE NON-CONFORMING PRODUCTS UNDER TERMS OF AGREEMENT BETWEEN CO AND OCS.CANNTRUST HOLDINGS INC - HEALTH CANADA HAS NOT ORDERED A RECALL IN RESPECT OF ANY OF COMPANY'S PRODUCTS.CANNTRUST - NOTICE ADVISES THAT OCS HAS ELECTED TO RETURN CERTAIN PRODUCTS TO COMPANY.CANNTRUST - PRODUCTS LISTED IN OCS RETURN NOTICE CONSTITUTE ALL OR SUBSTANTIALLY ALL OF CO'S PRODUCTS HELD AT OCS & VALUED AT ABOUT $2.9 MILLION.  Full Article

CannTrust Announces Receipt Of Management Cease Trade Order And Provides Interim Update
Friday, 16 Aug 2019 

Aug 15 (Reuters) - CannTrust Holdings Inc ::CANNTRUST ANNOUNCES RECEIPT OF MANAGEMENT CEASE TRADE ORDER AND PROVIDES INTERIM UPDATE.CANNTRUST - HEALTH CANADA HAS ADVISED COMPANY THAT IT IS UNABLE TO PROVIDE ANY GUIDANCE ABOUT TIMING OR CONTENT OF ITS DECISIONS CONCERNING COMPANY..CANNTRUST HOLDINGS INC - ESTIMATES IMPACTED INVENTORY REPRESENTS APPROXIMATELY 53% OF COMPANY'S TOTAL INVENTORY AS AT JUNE 30, 2019.CANNTRUST HOLDINGS INC - PREPARING A REMEDIATION PLAN FOR SUBMISSION TO AND CONSIDERATION BY HEALTH CANADA..CANNTRUST HOLDINGS INC - IMPACTED BIOLOGICAL ASSETS REPRESENT APPROXIMATELY 30% OF COMPANY'S TOTAL BIOLOGICAL ASSETS AS AT JUNE 30, 2019.CANNTRUST HOLDINGS INC - TO DATE COMPANY HAS NOT HAD ANY SUBSTANTIVE DISCUSSIONS WITH HEALTH CANADA CONCERNING REMEDIATION MATTERS.CANNTRUST HOLDINGS INC - INSTITUTED A VOLUNTARY HOLD OF APPROXIMATELY 7,500KG OF DRIED CANNABIS EQUIVALENT AT ITS VAUGHAN MANUFACTURING FACILITY.CANNTRUST - IF HEALTH CANADA ORDERS DESTRUCTION OF PRODUCT GROWN IN UNLICENSED ROOMS, Q2 RESULTS WILL BE MATERIALLY ADVERSELY HIT.CANNTRUST HOLDINGS INC - APPLICATION FOR A MANAGEMENT CEASE TRADE ORDER HAS BEEN APPROVED BY ONTARIO SECURITIES COMMISSION.CANNTRUST HOLDINGS - NYSE ADVISED CO THAT IT IS VIEWED AS NO LONGER HAVING COMPLETE ANNUAL REPORT ON FORM 40-F ON FILE FOR YEAR ENDED DEC 31, 2018..CANNTRUST HOLDINGS INC - TRADING OF COMPANY'S SECURITIES ON TSX AND NYSE CONTINUES.  Full Article

Canntrust Announces The Withdrawal Of Auditors' Report
Friday, 9 Aug 2019 

CannTrust Holdings Inc ::CANNTRUST ANNOUNCES THE WITHDRAWAL OF AUDITORS' REPORT.CANNTRUST HOLDINGS INC - KPMG REMAINS CANNTRUST'S INDEPENDENT AUDITOR..CANNTRUST - KPMG INFORMED CO IT IS WITHDRAWING ITS REPORT ON COMPANY'S CONSOLIDATED FINANCIAL STATEMENTS AS AT AND FOR YEAR ENDED DECEMBER 31, 2018.CANNTRUST - KPMG INFORMED CO IT IS WITHDRAWING ITS INTERIM REPORT TO THE AUDIT COMMITTEE DATED MAY 13, 2019.CANNTRUST HOLDINGS INC - CANNTRUST CAUTIONS AGAINST ANY RELIANCE ON ITS CONSOLIDATED FINANCIAL STATEMENTS AS AT DECEMBER 31, 2018.CANNTRUST HOLDINGS INC - CAUTIONS AGAINST RELIANCE ON INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS AT AND FOR THREE MONTH PERIOD ENDED MARCH 31, 2019..CANNTRUST HOLDINGS INC - KPMG WAS NOT AWARE OF INFORMATION RECENTLY SHARED BY THE COMPANY WHEN IT ISSUED KPMG REPORTS.CANNTRUST HOLDINGS INC - KPMG HAD RELIED UPON REPRESENTATIONS MADE BY INDIVIDUALS WHO ARE NO LONGER AT COMPANY.  Full Article

Canntrust Says Impact Of Special Committee's Investigation On Financial Results Is Unknown
Monday, 22 Jul 2019 

July 22 (Reuters) - CannTrust Holdings Inc ::CANNTRUST SPECIAL COMMITTEE UPDATE.CANNTRUST HOLDINGS INC - SPECIAL COMMITTEE'S INVESTIGATION AND DELIBERATIONS ARE ONGOING..CANNTRUST HOLDINGS INC - AT THIS TIME, IMPACT OF MATTERS ON CANNTRUST'S FINANCIAL RESULTS IS UNKNOWN..CANNTRUST HOLDINGS INC - CONTINUING TO ENGAGE WITH HEALTH CANADA AND FILED A RESPONSE TO HEALTH CANADA REPORT ON JULY 17, 2019.CANNTRUST HOLDINGS INC - COMPANY IS AWAITING HEALTH CANADA'S RESPONSE..CANNTRUST HOLDINGS - SPECIAL COMMITTEE APPOINTED TO INVESTIGATE COMPANY'S NON-COMPLIANCE WITH HEALTH CANADA REGULATIONS AND ANCILLARY MATTERS, OTHERS.CANNTRUST HOLDINGS- SPECIAL COMMITTEE APPOINTED TO MAKE RECOMMENDATIONS TO BOARD ABOUT ACTIONS TO BE TAKEN BY CO AS A RESULT OF INVESTIGATION, OTHERS.  Full Article

CannTrust Voluntary Hold On Product Sales And Formation Of Independent Special Committee
Friday, 12 Jul 2019 

July 11 (Reuters) - CannTrust Holdings Inc ::CANNTRUST VOLUNTARY HOLD ON PRODUCT SALES AND FORMATION OF INDEPENDENT SPECIAL COMMITTEE OF THE BOARD OF DIRECTORS.CANNTRUST PLACED A HOLD ON MEDICAL SALES THROUGH THEIR CUSTOMER SERVICE LINE AND ONLINE AS OF 11:59 P.M. ON JULY 10.CANNTRUST HOLDINGS - AT THIS TIME, IMPACT OF THESE MATTERS ON CANNTRUST'S FINANCIAL RESULTS ARE UNKNOWN UNTIL REGULATORY REVIEW PROCESS IS COMPLETE.SAYS HAS ALSO ANNOUNCED THAT A SPECIAL COMMITTEE OF BOARD OF DIRECTORS HAS BEEN ESTABLISHED.CANNTRUST- IMPLEMENTED VOLUNTARY HOLD ON SALE, SHIPMENT OF ALL CANNABIS PRODUCTS AS PRECAUTION WHILE HEALTH CANADA VISITS, REVIEWS VAUGHAN MANUFACTURING FACILITY.SAYS PURPOSE OF SPECIAL COMMITTEE IS TO INVESTIGATE VOLUNTARY HOLD ON PRODUCT SALES IN ITS ENTIRETY.  Full Article

CannTrust Says Establishing Operations In U.S
Wednesday, 19 Jun 2019 

June 19 (Reuters) - CannTrust Holdings Inc ::CANNTRUST ESTABLISHES U.S. OPERATIONS.CANNTRUST - SIGNED LOI THAT WILL PROVIDE ACCESS TO OVER 3,000 ACRES OF FARMLAND FOR HEMP PRODUCTION WITH ELK GROVE FARMING COMPANY.CANNTRUST HOLDINGS - ESTABLISHING OPERATIONS IN U.S., STARTING IN STATE OF CALIFORNIA.CANNTRUST HOLDINGS INC - CO, ELK GROVE WILL EACH HAVE 50% OWNERSHIP OF A NEW ENTITY.CANNTRUST - INVESTMENT IN U.S. OPERATION IS EXPECTED TO BE UP TO $20 MILLION THROUGH TO END OF 2020.CANNTRUST - BOTH PARTIES WILL PROVIDE EQUAL CONTRIBUTION OF CAPITAL TO FINANCE OPERATIONS OF JV.  Full Article

Canntrust Reports Q1 Earnings Per Share Of $0.12
Tuesday, 14 May 2019 

May 14 (Reuters) - CannTrust Holdings Inc ::CANNTRUST REPORTS FINANCIAL RESULTS FOR Q1 2019.QTRLY REVENUE OF $16.9 MILLION, A 115% INCREASE OVER Q1 2018.QTRLY EARNINGS PER SHARE $0.12.COMPANY BELIEVES REVENUE WILL INCREASE SIGNIFICANTLY IN 2019 COMPARED TO 2018 FULL YEAR RESULTS.Q1 EARNINGS PER SHARE VIEW C$-0.04, REVENUE VIEW C$17.3 MILLION -- REFINITIV IBES DATA.  Full Article

Canada's CannTrust Holdings to temporarily cut back workforce

CannTrust Holdings Inc will temporarily cut its workforce by about a quarter, or roughly 140 people, the company said on Thursday, seeking to recoup losses after Health Canada suspended its license to grow and sell cannabis.