04:23:00 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,014,099,913
Close 2019-07-12 C$ 8.81
Market Cap C$ 8,934,220,234
Recent Sedar Documents

Globe says Canntrust scandal weighs down weed sector

2019-07-15 08:12 ET - In the News

See In the News (C-TRST) Canntrust Holdings Inc

The Globe and Mail reports in its Saturday edition that the scandal at Canntrust Holdings ($3.34) has shaken investor confidence in the weed sector. The Globe's Mark Rendell writes that Canntrust has halted all sales. Health Canada has issued Canntrust a non-compliance order for growing thousands of kilograms of pot in five unlicensed rooms in its 12-room greenhouse in Pelham, Ont. Canntrust shares finished the week down 48.3 per cent. While the fallout has been dramatic for Canntrust, the implications of Health Canada's investigation are being felt industry-wide. Institutional investors who were warming to the sector are reassessing their interest. Meanwhile, concerns are mounting that Health Canada may respond to the compliance breach by increasing regulatory demands. Canopy Growth, Aurora Cannabis, Horizons Marijuana Life Sciences Index exchange traded fund and other weed related equities lost ground on Friday. Cannabis lawyer Patricia Olasker says events at Canntrust have really shaken people's confidence. She says, "Any lawyer you talk to will say they have a number of deals that could be impacted by this." The Globe says Canntrust was viewed as one of the highest-quality operators in the weed sector.

© 2024 Canjex Publishing Ltd. All rights reserved.