VAUGHAN, ON, June 26, 2018 /CNW/ - CannTrust Holdings Inc. ("CannTrust" or the "Company") (TSX: TRST), one of Canada's leading licensed producers of Cannabis, is applauding the granting of Royal Assent to Bill C-45, the Cannabis Act. With Royal Assent received, the legislation legalizing cannabis for adult consumer use has now passed its final official step, and retail sales are to commence on October 17, 2018, as announced by Canada's federal government.
CannTrust is excited and well-positioned to enter this new marketplace and has the production capacity and infrastructure together with standardized products with precise label claims indicating the exact dosage, to immediately begin fulfilling adult consumer use market orders on a national level.
"While the federal government has recently announced the commencement date for adult consumer use, CannTrust has been working towards this date for a very long time. We are well positioned for this rapid growth with our new product offerings, infrastructure, research and development and staffing. At the same time we continue to lead the medical industry through our customer support, innovative portfolio and most of all, our trusted standardized products. Initial adult consumer use order discussions with the Provinces have exceeded our preliminary estimates reflecting the market's confidence in our abilities and the understanding of our consistent quality. This truly is an exciting and momentous time for both our Company and our nation", says Brad Rogers, President of CannTrust.
CannTrust will apply its proven disciplined and scientific expertise approach, an approach that differentiates the Company from the other LPs in the medical arena, to the adult consumer use market. CannTrust is respected by both medical customers and practitioners for its standardized products and the Company will bring this same meticulous process to its adult consumer use offerings, providing a welcomed consistency to this new marketplace.
CannTrust is initially launching three recreational brands of Cannabis in Canada – liiv, SYNR.G and Xscape. This trio of brands will address the needs of three distinct target audiences: the knowledgeable enthusiast, the social consumer and the experience seeker. Each of the brands will include a set of carefully curated strains and the products will be available in a variety of formats including dried flower, pre-rolls, oils and capsules.
About CannTrust 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 60,000 sq ft state-of-the-art hydroponic facility in Vaughan, Ontario, as well as the recently completed 250,000 sq. ft. Phase One redevelopment of its 450,000 sq. ft. Niagara Greenhouse Facility. The Phase Two expansion is underway and is anticipated to be completed and in cultivation by Fall 2018. Phase Three construction, with an additional projected 600,000 sq. ft., has begun and is fully funded.
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 a compassionate use program to support patients with financial needs. For more information, please visit: www.canntrust.ca.
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.
The forward-looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management believes to be reasonable in the circumstances. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact. Forward-looking statements in this news release include, but are not limited to, statements with respect to internal expectations, expectations with respect to actual production volumes, expectations for future growing capacity and the completion of any capital project or expansions. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the medical cannabis industry in Canada generally; the ability of CannTrust to implement its business strategies; competition; crop failure; and other risks.
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 Annual Information Form dated March 29, 2018 (the "AIF") and filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF could cause actual events or results to differ materially from those described in any forward-looking information.
The TSX does not accept responsibility for the adequacy or accuracy of this release.
CannTrust is a federally regulated licensed cannabis producer. We are proudly Canadian, operating a portfolio of brands including estora, Liiv and Synr.g, specifically designed to surprise and delight patients and consumers. At CannTrust, we are committed to providing an...