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Cannabis Summary for July 9, 2019

2019-07-09 21:03 ET - Market Summary

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by Stockwatch Business Reporter

The Canadian Securities Exchange Composite Index fell 8.51 points to 631.94 Tuesday. Most of the talk in the industry today still revolved around the Canntrust Holdings Inc. (TRST) non-compliance rating. The cannabis producer fell another 27 cents to $4.73 on 8.08 million shares today after falling $1.46 yesterday. For those unfamiliar with the background, Canntrust was caught by Health Canada for growing marijuana from October, 2018, to March, 2019, in five unlicensed rooms at its Pelham, Ont., facility. In April, 2019, the company received a licence to grow marijuana in these rooms after it had already been doing it for six months. Health Canada will prevent the sale of 5,200 kilograms of marijuana that was harvested in the previously unlicensed rooms while it conducts quality checks on this product. Canntrust has voluntarily blocked another 7,500 kg of marijuana from being sold. This product is at its Vaughan manufacturing facility now; it also produced the 7,500 kg in the previously unlicensed rooms.

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