CannTrust appoints lead of special committee investigating hidden cannabis [Toronto Globe and Mail (Ontario, Canada)]
CannTrust Holdings Inc. (CTST)
Last canntrust holdings inc. earnings: 5/14 06:19 am
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Source: Toronto Globe and Mail
CannTrust appoints lead of special committee investigating hidden cannabis Related reporting The board of CannTrust Holdings Inc. has hired Bay Street law firm McCarthy Tétrault LLP and appointed U.S. sporting goods executive Robert Marcovitch to lead a special committee that is investigating how the company illegally grew 12,7 kilograms of cannabis in unlicensed facilities, and who knew about it. Federal inspectors from Health Canada are auditing Toronto-based CannTrust after discovering the company grew cannabis in five unlicensed rooms over a five-month period in its greenhouse in Pelham, Ont. Sanctions could range from penalties for management to the cancellation of the company’s cannabis production licences, which would effectively shut down the business. CannTrust’s stock price has dropped about 4 per cent since it disclosed the regulatory issues on July 8. The special committee is also expected to hire an investment bank to advise it on how to proceed. The shares closed up m
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