In a statement to the press, CannTrust Holdings Inc. has implemented a voluntary hold on sale and shipment of all cannabis products as a precaution while Health Canada visits and reviews its Vaughan, Ontario manufacturing facility. CannTrust placed a hold on medical sales through their customer service line and online as of 11:59 p.m. on July 10.
CannTrust is working closely with the regulator through the review process and expects to provide further detail of the duration of the hold and other developments as they become available. CannTrust is a federally regulated licensed producer of medical and recreational cannabis in Canada.
Patients and consumers who have questions about CannTrust products can contact the Company’s customer care team at email@example.com and 1-855-RX4-CANN.
At this time, the impact of these matters on CannTrust’s financial results are unknown until the regulatory review process is complete.
CannTrust has also announced that a Special Committee of the Board of Directors has been established. The Special Committee is comprised of independent members of the Board of Directors. The purpose of the Special Committee is to investigate this matter in its entirety. Founded by pharmacists, CannTrust brings more than 40 years of pharmaceutical and healthcare experience to the medical cannabis industry and serves more than 72,000 medical patients with its dried, extract and capsule products. The Company operates its Niagara Perpetual Harvest Facility in Pelham, Ontario, and prepares and packages its product portfolio at its manufacturing centre of excellence in Vaughan, Ontario. The Company has also purchased 81 acres of land in British Columbia and expects to secure over 240 acres of land in total for low-cost outdoor cultivation which it will use for its extraction-based products.