VAUGHAN, ON, Aug. 17, 2017 /CNW/ - CannTrust Holdings Inc. ("CannTrust" or the "Company" | CSE: TRST), a licensed producer of medical cannabis with a state-of-the-art 50,000 square foot hydroponic facility in Vaughan, Ontario under the Health Canada Access to Cannabis for Medical Purposes Regulation ("ACMPR") program, announces that its shares will begin trading at the opening of markets on Monday, August 21, 2017 under the symbol "TRST" on the Canadian Securities Exchange.
CannTrust™ is a leading provider of pharmaceutical grade medical cannabis. To meet its growing demand and future market opportunities, the Company is currently undertaking a significant state-of-the-art upgrade of its 430,000 square foot greenhouse facility in the Niagara region. Phase 1 of the upgrade, utilizing 250,000 square feet of the facility, is expected to be operational in 2017.
Business Profile and Updates:
- CannTrust™ currently has approximately 25,000 active patients, up from approximately 15,000 patients at the end of May 2017
- 430,000 square foot state-of-the-art greenhouse upgrade
- Apotex Inc. and CannTrust ™ are exclusive global partners formulating and developing unique dose forms for the pharmaceutical market
- Adjusted EBITDA1 positive in Q1/17
- Q2/17 financials to be released by August 29, 2017
- No product recalls
- 100% of product sold is pesticide free
C.E.O. Eric Paul stated, "It is an important part of our business to highlight to our stakeholders – patients and physicians, our investors and the regulators – that patient centric care, products and services, a culture of compliance and the highest standards can be rewarding to all stakeholders. We have an amazing team, who have built this business and we look forward to the commencement of trading of "TRST" next Monday, August 21, 2017."
CannTrust, since its inception in 2014, 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 is upgrading a 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, opinions, 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.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Copyright © 2017 CannTrust Holdings Inc
1Refer to Final Long Form Prospectus.
SOURCE CannTrust Holdings Inc.
For further information: CannTrust Holdings Inc., Ivy Fung, Investor@canntrust.ca, www.canntrust.ca/investor-relations, 1-833-688-TRST (8778)