CannTrust slides further after Health Canada suspends cannabis licences

The company has 10 days to respond to the notice barring it from growing new batches of cannabis and selling it.

Health Canada has suspended CannTrust Holdings Inc.’s licences to sell cannabis and curtailed its ability to produce new plants after it was found to be growing cannabis in unlicensed rooms, the embattled company announced Tuesday.

According to a press release, CannTrust received a notice from Health Canada stating that its licences for “standard processing, medical sales, cannabis drugs and research issued under the Cannabis regulations” were being fully suspended, while its licence for standard cultivation would be under partial suspension. CannTrust will now be barred from growing new lots or batches of cannabis and from selling or distributing any products, but will still be able to “cultivate and harvest existing lots of batches” as well as trim, mill and dry that product, the release said.

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Victor Ferreira – Financial Poost

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