CannTrust got its Health Canada licenses for its Fenwick Perpetual Harvest facility in Ontario reinstated, to the shock of many.
NewsWire, BNN Bloomberg
- CannTrust has been granted protection under the Companies' Creditors Arrangement Act, and acknowledges it lacks "meaningful revenues" and has "laid off a significant portion of its workforce."
- The company said continued production of CannTrust products hinged on a Health Canada decision regarding its main facility in Vaughan, Ontario.
CTV News, Twitter--@CannTrust
A year ago, CannTrust was the ninth largest LP in Canada by market cap, helmed by former banking CEO Peter Aceto.
Marijuana Index, Financial Post
- At the same time, the company was growing product in unlicensed facility rooms and deliberately misled regulators with ruses like fake walls, until news of the misbehaviour broke last July. Most consider the CannTrust scandal to have marked the beginning of the horrible year through which the Canadian sector is still suffering.
Globe and Mail
According to Health Canada, CannTrust has made significant changes to staff, improved recordkeeping, trained all staff, and introduced "controls, processes and systems to mitigate the risks related to the original suspension."