CannTrust’s Prospects Of Resuming Cannabis Sales Dim

The company is now without its manufacturing facility

CannTrust’s stock took another major hit on Monday after the embattled cannabis producer disclosed it had received a second non-compliance rating from Health Canada, this time in connection to its facility in Vaughan, Ont. 

The violations at the 60,000-square-foot manufacturing facility included converting five rooms into storage areas that were used to hold cannabis beginning in June 2018 and the construction of two new areas, one of which was used to store cannabis from November 2018 onwards, all without  approval from Health Canada.

The company’s shares plunged more than 27 per cent to close at $3.04 in Toronto, erasing much of a surprise gain they had posted on Friday. They remain well below the $6.46 mark at which they were trading six weeks ago, when the company first acknowledged it was being investigated for growing cannabis in unlicensed rooms in its Pelham, Ont., facility.

To Read The Rest Of This Article On Financial Post, Click Here

Stay up-to-date!

Get all the news and info straight into your inbox that you need to help grow your business.

To Top