|Bid||0.0000 x 4000|
|Ask||0.0000 x 1000|
|Day's Range||0.6233 - 0.6956|
|52 Week Range||0.3800 - 3.5600|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
VAUGHAN, Ont. — CannTrust Holdings Inc. says Health Canada has reinstated its licences for its greenhouse in Niagara and that it will immediately restart operations.The cannabis company says it cannot say when its products will be available in the market as that depends on a Health Canada decision regarding its manufacturing facility in Vaughan, Ont.The decision regarding the Vaughan facility is independent of the Fenwick facility's licence reinstatement and has not yet been made.CannTrust, which has been operating under court protection from creditors under the Companies' Creditors Arrangement Act since March, says it sent its reinstatement submission for the manufacturing facility to Health Canada on April 24.The company has been under fire since it disclosed last year that Health Canada had discovered illicit cultivation in unlicensed rooms at its Pelham, Ont., greenhouse.It says creditor protection will also allow it to explore a plan to deal with the multiple class actions and other litigation brought against the company in the wake of its disclosures last year.CannTrust's shares were delisted from the Toronto Stock Exchange at the end of trading on May 6.This report by The Canadian Press was first published May 29, 2020.The Canadian Press
VAUGHAN, ON, May 29, 2020 /CNW/ - CannTrust Holdings Inc. ("CannTrust" or the "Company") announced that it has received notice from Health Canada that the Company's licenses for its Fenwick Perpetual Harvest Facility (the "Fenwick facility") have been reinstated. CannTrust has been working in collaboration with Health Canada for many months to identify and address the Company's regulatory deficiencies. On February 14, 2020, the Company announced that it had completed its remediation activities at the Fenwick facility, and that documentation in support of license reinstatement had been submitted to Health Canada.
VAUGHAN, ON , May 15, 2020 /CNW/ - On March 31, 2020 , CannTrust Holdings Inc. (the "Company") announced that the Company and certain of its subsidiaries (collectively, "CannTrust") were granted protection pursuant to an order issued under the Companies' Creditors Arrangement Act by the Ontario Superior Court of Justice (the "Court") and that Ernst & Young Inc. was appointed monitor (in such capacity, the "Monitor"). In addition, the Court approved CannTrust's agreement engaging Greenhill & Co. Canada Ltd (the "Financial Advisor") as financial advisor. On May 8, 2020 , the Court issued an order (the "SISP Order") authorizing and directing CannTrust to undertake a sale and investment solicitation process (the "SISP").
With the global economy withering under the COVID-19 pandemic, the odds of a wave of bankruptcies wiping out underperforming cannabis firms are on the rise.
VAUGHAN, ON, April 9, 2020 /CNW/ - CannTrust Holdings Inc. ("CannTrust" or the "Company", TSX: TRST, NYSE: CTST) today provided a status update in accordance with its obligations under the alternative information guidelines set out in National Policy 12-203 – Management Cease Trade Orders ("NP 12-203"), which require the Company to provide bi-weekly updates until such time as the Company is current with its filing obligations under Canadian securities laws. On March 31, 2020, CannTrust announced that the Company had obtained an order (as amended or amended and restated from time to time, the "Initial Order") from the Ontario Superior Court of Justice (Commercial List) (the "Court") granting protection under the Companies' Creditors Arrangement Act (Canada) ("CCAA").
VAUGHAN, ON , March 31, 2020 /CNW/ - CannTrust Holdings Inc. ("CannTrust" or the "Company", TSX: TRST, NYSE: CTST) announced today that the Company has obtained an order (the "Initial Order") from the Ontario Superior Court of Justice (Commercial List) (the "Court") granting protection under the Companies' Creditors Arrangement Act ( Canada ) ("CCAA"). In accordance with the Initial Order, all creditors of CannTrust, CannTrust Inc., CTI Holdings ( Osoyoos ) Inc., and Elmcliffe Investments Inc. (the "Applicants"), as well as the plaintiffs in the putative class actions and other litigation brought against the Applicants, will be stayed from enforcing their claims. The Initial Order provides for a stay of proceedings in favour of the Applicants for an initial period of 10 days, subject to such extensions as the Court may subsequently order, and the appointment of Ernst & Young Inc. as Monitor in the CCAA proceedings.
VAUGHAN, ON, March 23, 2020 /CNW/ - CannTrust Holdings Inc. ("CannTrust" or the "Company", TSX: TRST, NYSE: CTST) announced today that it received a notification from Health Canada as a result of current circumstances created by COVID-19. As a precautionary measure for the health and safety of its employees and the community, Health Canada's Cannabis Directorate is reducing onsite field inspection activities until at least March 31, 2020. CannTrust noted that many commercial enterprises, including the Company itself, have been reducing their onsite activities in response to COVID-19.
VAUGHAN, ON , March 18, 2020 /CNW/ - CannTrust Holdings Inc. ("CannTrust" or the "Company", TSX: TRST, NYSE: CTST) announced today that the Toronto Stock Exchange ("TSX") has extended the Company's current March 25, 2020 deadline for satisfying certain disclosure requirements but is also reviewing CannTrust's eligibility for maintaining its TSX listing.
VAUGHAN, ON, Feb. 28, 2020 /CNW/ - CannTrust Holdings Inc. ("CannTrust" or the "Company", TSX: TRST, NYSE: CTST) announced today that on February 27, 2020 the Company received written notification from the New York Stock Exchange (the "NYSE") that CannTrust is no longer in compliance with the NYSE's continued listing standard rules because the per share trading price of the Company's common shares has fallen below the NYSE's share price rule. The NYSE requires the average closing price of a listed company's common shares to be at least US $1.00 per share over a consecutive 30 trading-day period.
Aurora Cannabis Inc (TSX:ACB)(NYSE:ACB) may recover this year after a disappointing earnings result, but this other pot stock could double or even triple in value.
VAUGHAN, ON, Feb. 13, 2020 /CNW/ - CannTrust Holdings Inc. ("CannTrust" or the "Company", TSX: TRST, NYSE: CTST) announced the appointment of Greg Guyatt as the Company's Chief Executive Officer and provided an update on the status of both its remediation plan and its New York Stock Exchange ("NYSE") listing.
Many pundits forecast a bounce-back of cannabis stocks this year. However, this trend won’t be equally experienced by all cannabis companies. Companies like Aphria are set to soar, while others, like CannTrust, are expected to tank.
Is there room for recovery as Aurora Cannabis (TSX:ACB)(NYSE:ACB) stock underperforms that of an embattled CannTrust Holdings (TSX:TRST)(NYSE:CTST)?
If you are looking to buy into the green industry of cannabis this year, you may want to stay clear of CannTrust Holdings stock and Namaste Technologies stock.
Horizons Marijuana Life Sciences ETF (TSX:HMMJ) stock could be the ultimate proxy for a rebound in the legal pot sector.
Clouds hanging over Canada’s cannabis industry could begin to part in 2020 as a crop of new pricier products and more stores in sparsely-served Ontario translate to stronger quarterly results, according to analysts at Stifel GMP Research.
Here’s why bargain hunters should be placing contrarian bets on beaten-down cannabis stock CannTrust Holdings (TSX:TRST)(NYSE:CTST) today.