VAUGHAN, ON, Aug. 29, 2019 /PRNewswire/ – CannTrust Holdings Inc. (“CannTrust” or the “Company”, TSX: TRST, NYSE: CTST) these days is offering a status update in accordance with its obligations below the option information and facts suggestions set out in National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”), which call for the Business to offer bi-weekly updates till such time as the Business is existing with its filing obligations below Canadian securities laws. As previously announced, the Business is topic to a management cease trade order (“MCTO”) issued by the Ontario Securities Commission. The MCTO prohibits the directors and executive officers of the Business from trading in or acquiring securities of the Business till two complete small business days following the Business files an interim monetary report for the 3 and six month periods ended June 30, 2019, an interim management’s discussion and evaluation for the corresponding period and certifications of interim filings. The MCTO does not have an effect on the capability of investors who are not insiders to trade in the securities of the Business.
The Business advises that: (i) there have been no material alterations to the information and facts contained in the Company’s August 16, 2019 news release (ii) it intends to continue to comply with the option information and facts suggestions of NP 12-203 and (iii) except as previously disclosed, there are no subsequent specified defaults (actual or anticipated) inside the which means of NP 12-203.
CannTrust is a federally regulated licensed producer of health-related and recreational cannabis in Canada. Founded by pharmacists, CannTrust brings years of pharmaceutical and healthcare expertise to the health-related cannabis business and serves health-related sufferers with its dried, extract and capsule solutions. The Business operates its Niagara Perpetual Harvest Facility in Pelham, Ontario, and prepares and packages its solution portfolio at its manufacturing centre in Vaughan, Ontario. The Business has also bought 81 acres of land in British Columbia and expects to safe more than 240 acres of land in total for low-expense outside cultivation which it will use for its extraction-primarily based solutions.
This press release includes “forward-searching information” inside the which means of Canadian Securities laws and “forward-searching statements” inside the which means of the United States Private Securities Litigation Reform Act of 1995 and other applicable United States protected harbor laws, and such statements are primarily based upon CannTrust‘s existing internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-searching information and facts and forward-searching statements can be identified by the use of forward-searching terminology such as “believes”, “expect”, “likely”, “may”, “will”, “should”, “intend”, “anticipate”, “potential”, “proposed”, “estimate” and other equivalent words, such as damaging and grammatical variations thereof, or statements that particular events or situations “may”, “would” or “will” come about, or by discussions of tactic.
The forward-searching information and facts and statements in this news release include things like statements relating to the corrective actions becoming taken by the Business, and Wellness Canada’s pending determinations. Forward-searching information and facts and statements necessarily involve identified and unknown dangers, such as, with out limitation: actions taken in respect of the Company’s solutions by its clients and regulators benefits of Wellness Canada’s investigation, such as orders and compliance measures essential by Wellness Canada and their effect on the operations, inventory, assets and monetary situation of the Business the Company’s implementation of remediation plans and associated actions regulatory approval dangers linked with basic financial situations adverse business events loss of markets future legislative and regulatory developments in Canada, the United States and elsewhere the cannabis business in Canada frequently and, the capability of CannTrust to implement its small business tactics.
Any forward-searching information and facts and statements speak only as of the date on which they are produced, and, except as essential by law, CannTrust does not undertake any obligation to update or revise any forward-searching information and facts or statements, no matter whether as a outcome of new information and facts, future events or otherwise. New components emerge from time to time, and it is not attainable for CannTrust to predict all such components. When contemplating these forward-searching information and facts and statements, readers ought to preserve in thoughts the threat components and other cautionary statements in CannTrust‘s Annual Details Type dated March 28, 2019 (the “AIF”) and filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com and filed as an exhibit CannTrust‘s Type 40-F annual report below the United States Securities Exchange Act of 1934, as amended, with the United States Securities and Exchange Commission on EDGAR at www.sec.gov. The threat components and other components noted in the AIF could result in actual events or benefits to differ materially from these described in any forward-searching information and facts or statements.
The TSX and NYSE do not accept duty for the adequacy or accuracy of this release.
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