19:56:31 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Canntrust Holdings Inc
Symbol TRST
Shares Issued 141,481,527
Close 2019-08-22 C$ 2.58
Market Cap C$ 365,022,340
Recent Sedar Documents

FP/wire say Canntrust plunge wipes out gains since IPO

2019-08-22 08:41 ET - In the News

The Financial Post reports in its Thursday, Aug. 22, edition that exactly two years after its debut, Canntrust Holdings ($2.48) has fallen beneath its listing price of $2.50. A Bloomberg dispatch to the Post reports that the pot company has lost nearly 66 per cent of its value since early July when it revealed it had broken Canadian regulations by growing cannabis in unlicensed areas of its greenhouse in Pelham, Ont. The negative headlines have mounted since then. Chief executive officer Peter Aceto was fired and chairman Eric Paul resigned; securities regulators and police are investigating; auditor KPMG LLP withdrew its reports on the company's year-end and first quarter results; regulators found further breaches at a second facility in Vaughan, Ont.; and Ontario's cannabis wholesaler is returning $2.9-million worth of products at the company's expense. Canntrust has hired Greenhill & Co. to explore potential alternatives including a sale. The Post reported on Tuesday that at least three senior employees had departed. Unnamed sources say master grower Brady Green, operations manager Cameron Fletcher and vice-president of quality operations Andrea Kirk are no longer with Canntrust.

© 2024 Canjex Publishing Ltd. All rights reserved.