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VAUGHAN, ON, Nov. 8, 2017 /CNW/ - CannTrust Holdings Inc. ("CannTrust" or the "Company" I CSE: TRST), a licensed producer of medical cannabis under the Health Canada Access to Cannabis for Medical Purposes Regulation (" ACMPR ") program, is pleased to announce that it has received Health Canada approval to export medical marijuana internationally to Countries where medical marijuana is legalized and that the Company has now begun shipping to Australia.
"We are very proud and excited to begin the international shipping of our pharmaceutically standardized medical marijuana products. Australia is the first of many markets that we are expecting to supply. Other countries that we anticipate shipping to shortly are Germany, Denmark and Brazil", said Brad Rogers, President of CannTrust Inc.
Rogers continued "Germany has implemented one of the most progressive medical marijuana Plans whereby marijuana will be distributed via Pharmacies with Insurers required to cover the costs just as they do for Pharmaceutical drugs. CannTrust is an experienced and advanced Licensed Producer of Pharmaceutical grade cannabis in Canada and our recently completed Phase 1 of our 430,000 square feet Niagara Facility, is perfectly timed in order for us to supply the orders we have received. The pending legislation to legalize the adult consumer recreational use of cannabis provides a further major opportunity for the Company. With the completion of all phases of our Niagara expansion we plan to have in excess of 1,000,000 square feet of production capacity. This will give us the ability to acquire a substantial share of the increased demand arising from these new markets."
Company CEO Eric Paul, a veteran Pharmacist, said "Our plan was always to be a Pharmaceutical Company producing quality medical cannabis in a variety of unique dosage forms that will provide the best treatment options for patients. Our shipments to Australia are just the beginning of what we believe will be a World market opportunity for us along with our exclusive global pharma manufacturing partner, Apotex Inc., for our Canadian made, pharmaceutically standardized, cannabis products."
Since its inception in 2014, CannTrust has led the Canadian market in producing pharmaceutically standardized product.
As a federally regulated licensed producer, CannTrust™ brings more than 40 years of pharmacy and healthcare experience to the medical cannabis industry. CannTrust currently operates a 50,000 square foot state-of-the-art hydroponic facility in Vaughan, Ontario and with this recently received Health Canada Cultivation License has begun production at Phase 1 of its 430,000 square foot cultivation facility in the Niagara region.
CannTrust™ is committed to research and innovation, as well as contributing to the growing body of evidence- based research regarding the use and efficacy of cannabis. Our product development teams along with our exclusive global pharma partner, Apotex Inc., are diligently innovating and developing products that will make it easier for patients to use medical cannabis. We support ongoing patient education about medical cannabis and have launched a compassionate use program to support patients with financial needs.
Forward Looking Statements
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation which are based upon CannTrust's current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as "expect", "likely", "may", "will", "should", "intend", "anticipate", "potential", "proposed", "estimate" and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions "may", "would" or "will" happen, or by discussions of strategy.
Forward-looking information include estimates, plans, expectations, op1mons, forecasts, projections, targets, guidance or other statements that are not statements of fact.
Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, CannTrust does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for CannTrust to predict all such factors. When considering these forward-looking statements, readers should keep in mind the risk factors and other cautionary statements in CannTrust's Final Long Form Prospectus dated August 11, 2017 and filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in CannTrust's Final Long Form Prospectus could cause actual events or results to differ materially from those described in any forward-looking information.
SOURCE CannTrust Holdings Inc.
For further information: CannTrust Holdings Inc., Ivy Fung, Investor@canntrust.ca, 1-833-688-TRST (8778), www.canntrust.ca/investor-relations