CannTrust shares slide anew after AGLC says it will return C$1.3 million of its cannabis [MarketWatch]
CannTrust Holdings Inc. (CTST)
Last canntrust holdings inc. earnings: 5/14 06:19 am
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Source: MarketWatch
CannTrust shares slide anew after AGLC says it will return C$1.3 million of its cannabis CannTrust Holdings Inc. U.S.-listed shares CTST, -1.55% TRST, +1.18% fell about 8% in premarket trade Thursday, after the Canadian cannabis company said the Alberta Gaming, Liquor and Cannabis Commission (AGLC) has informed it that it will return all of company's products sold to it, which are valued at about C$1.3 million ($979,000). Under the terms of the supply agreement that CannTrust has with the AGLC, it can return goods sold for any reason and the company will be responsible for the cost of the goods and all other expenses related to the return, CannTrust said in a statement. The AGLC is responsible for wholesale distribution of cannabis products to licensed cannabis retailers in Alberta and operates independently of Health Canada, the Canadian health ministry. CannTrust, which earlier this week had its cannabis license suspended after it was found to be growing cannabis in unlicense
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