CannTrust sinks as regulator finds Vaughan facility non-compliant

13 Août, 2019, 11:26 | Auteur: Auguste Feret

Its the second recent instance where CannTrust was found by Health Canada to be operating in non-compliant facilities.

WATCH: Marijuana black market still surging in Canada: how can that change?

CannTrust continued to slide on Monday after Health Canada deals the company yet another blow.

CannTrust Holdings Inc. shares plummeted almost 25 per cent on Monday morning, after the troubled cannabis grower acknowledged that it has received a second non-compliant order from federal regulators, this time relating to its manufacturing facility in Vaughan, Ont.

Now a second facility, in Vaughan, north of Toronto, has also been found in violation of regulations. "As previously announced, the Company implemented a voluntary hold on the sale and shipment of all cannabis products while Health Canada reviewed its Vaughan, Ontario manufacturing facility", the company said in a statement.

Although the Company, under the supervision of the Special Committee, is preparing a remediation plan for submission to and consideration by Health Canada, Health Canada has advised the Company that it is now unable to provide any guidance about the timing or content of its decisions concerning the Company.

CNN’s PR Head Responds To Cuomo ‘Fredo’ Meltdown. Trump Jr. Nukes Him
The video ends with multiple people attempting to separate the two men. I'm f--in' right here. "I'll f-ing wreck your shit". Cuomo asked a man who could be seen in the video.

Patriots trading for Falcons TE Eric Saubert
Sauberts' career statistics - five catches for 48 yards in 30 games - suggests Quinn won't miss his services too much. Even though he was an alternate last season, Austin Hooper has legitimate Pro Bowl talent.

Lil Nas X breaks more records beating Drake, Missy Elliott
Hawkins adds that first responders can rely on street signs to get to emergencies, and stolen signs can delay response times. Within the last few months, the signs have been pilfered three times, according to a statement on the town's website.

Trade uncertainty has made investors cautious, sending them to more defensive sectors or safe havens like gold, says Craig Fehr, a Canadian markets strategist with Edward Jones. (NYSE:CTST) were released by: "Globenewswire.com and their article: "CTST CLASS ACTION REMINDER: "Hagens Berman Reminds CannTrust Holdings (CTST) Investors of September 9, 2019 Lead Plaintiff Deadline; Investors Who Lost $100,000+ to Contact the Firm - GlobeNewswire" published on August 08, 2019 as well as Finance.Yahoo.com's news article titled: "SHAREHOLDER ALERT: "Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in CannTrust Holdings Inc. of Class Action Lawsuit and Upcoming Deadline â€" CTST - Yahoo Finance" with publication date: "August 10, 2019.

Health Canada seized five metric tons of the company's cannabis from that facility in July, when it discovered the illegal grow rooms. That prompted sharp selling in CannTrust's stock that saw plummet 50% in a matter of weeks.

CannTrust said that while it is working on a remediation plan with its independent Special Committee of the board of directors, Health Canada has advised that it is "currently unable to provide any guidance about the timing or content of its decisions" about the company.

Since Health Canada found the unlicensed pot cultivation, CannTrust fired Peter Aceto as chief executive officer, while Eric Paul resigned as chairman.

Several Canadian companies also had wild share swings.

Conseillé:



Populaire

Cristiano Ronaldo heaps praise on his former Real Madrid boss Zinedine Zidane
Ronaldo scored 21 Serie A goals in his first season with Italian champions Juventus , who won their eighth successive Scudetto.

German aid official says he doesn't plan to quit Amazon Fund
Bolsonaro, known for his ties to agribusiness, doesn't intend to designate any further conservation areas in the forest. Germany would be the first country in the European Union to completely ban plastic bags when this move goes through.

Sarah Silverman fired from movie for 2007 'blackface' sketch
Sarah Silverman referred to this cancel culture of shaming celebrities for every past act of impropriety as "righteousness porn". The images came from a sketch she had done for The Sarah Silverman Show back in 2007, but she says she no longer stands by them.

Liam Hemsworth confirms split from Miley Cyrus with Instagram statement
Miley and Liam met on the set of The Last Song in 2009 and had an on-and-off relationship before Liam proposed in 2012. Liam Hemsworth has spoken out for the first time since his shock split from his wife Miley Cyrus .

Goldman: Trade war raises recession concerns
Similarly, policy uncertainty is likely to compel companies to lower their capital expenditure, the economists added. All of that raised global recession fears as the escalating US-China tariff war took a toll on trade and investment.

Le coureur gravement blessé après avoir été percuté par une voiture — Pozzovivo
Alors que le départ de la Vuelta sera donné le 24 août, il a été gravement blessé lundi à l'entraînement. Son équipe Bahrain-Merida ne manquera pas de communiquer à ce sujet, certainement plus tard.

Astronomers Spot Mysterious Flash From Our Galaxy's Supermassive Black Hole
It's under constant observation with instruments like the WM Keck Observatory in Hawaii used by the UCLA team. It made its closest approach yet past year , coming within 17 light hours of the event horizon.

Guards 'severely overworked' at time of Epstein's death
The guards failed to follow several protocols leading up to Epstein's death, according to the New York Times . Epstein's death raises serious questions that must be answered", Barr said in a statement.

F1: Red Bull dumps Pierre Gasly for Alexander Albon - Sportstar
The Belgian Grand Prix at the Spa-Francorchamps circuit is on September 1 and is the first race after Formula One's August break.

Nigeria's Osimhen stars on debut as Lille make winning start
Onyekuru's parent club, Everton, are believed to have agreed a 15million Euros transfer for the Nigerian exciting winger. He would be hoping to continue his impressive scoring form when Lille face Amiens at Stade de la Licorne on August 17.