CannTrust Holdings Inc. (“CannTrust” or the “Company”, TSX: TRST, NYSE: CTST) today is providing a status update in accordance with its obligations under the alternative information guidelines set out in National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”), which require the Company to provide bi-weekly updates until such time as the Company is current with its filing obligations under Canadian securities laws. As previously announced, the Company is subject to a management cease trade order (“MCTO”) issued by the Ontario Securities Commission. The MCTO prohibits the directors and executive officers of the Company from trading in or acquiring securities of the Company until two full business days after the Company files an interim financial report for the three and six month periods ended June 30, 2019, an interim management’s discussion and analysis for the corresponding period and certifications of interim filings. The MCTO does not affect the ability of investors who are not insiders to trade in the securities of the Company.
The Company advises that: (i) there have been no material changes to the information contained in the Company’s August 16, 2019 news release, August 29, 2019 news release, September 12, 2019 news release, September 26, 2019 news release, October 10, 2019 news release, and October 24, 2019 news release; (ii) it intends to continue to comply with the alternative information guidelines of NP 12-203; and (iii) except as previously disclosed, there are no subsequent specified defaults (actual or anticipated) within the meaning of NP 12-203.
This press release contains “forward-looking information” within the meaning of Canadian Securities laws and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable United States safe harbor laws, and such statements are based upon CannTrust’s current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information and forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “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 and statements in this news release include statements relating to the corrective actions being taken by the Company, and Health Canada’s pending determinations. Forward-looking information and statements necessarily involve known and unknown risks, including, without limitation: actions taken in respect of the Company’s products by its customers and regulators; results of Health Canada’s investigation, including orders and compliance measures required by Health Canada and their impact on the operations, inventory, assets and financial condition of the Company; the Company’s implementation of remediation plans and related actions; regulatory approval; risks associated with general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments in Canada, the United States and elsewhere; the cannabis industry in Canada generally; and, the ability of CannTrust to implement its business strategies.
Any forward-looking information and statements speak only as of the date on which they are made, and, except as required by law, CannTrust does not undertake any obligation to update or revise any forward-looking information or statements, 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 information and statements, readers should keep in mind the risk factors and other cautionary statements in CannTrust’s Annual Information Form dated March 28, 2019 (the “AIF”) and filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com and filed as an exhibit CannTrust’s Form 40-F annual report under the United States Securities Exchange Act of 1934, as amended, with the United States Securities and Exchange Commission on EDGAR at www.sec.gov. 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 or statements.
The TSX and NYSE do not accept responsibility for the adequacy or accuracy of this release.
SOURCE CannTrust Holdings Inc.
Core One Labs’ Subsidiary, Core Isogenics Inc., Teams up with Reiziger Pty. Ltd. to Showcase High Yielding Nutritional Cultivation Technology
Core One Labs Inc. (CSE: COOL), (OTCQX: CLABF), (Frankfurt: LD6, WKN: A14XHT) (“COOL” or the “Company”) announces that its wholly-owned subsidiary, Core Isogenics Inc., has begun a highly complex nutritional regimen to accelerate the growth of cannabis plants and increase flower yield and quality.
The Core Isogenics’ nursery and breeding rooms are now operational. Approximately 25% of the breeding rooms are now actively involved in a project with Reiziger® Holland to improve harvest yields. This is a significant milestone in the Company’s journey to seed-to-sale with increased profitability. The initial project focus will be a twelve-month study matching genetics to nutrients and creating feeding regimens specifically designed for maximum absorption and conversion of nutrients into cannabinoids. The Company has high expectations for this technology and the possible benefits for the CannaStrips™ brand.
The nursery facility is uniquely suited for this type of project with its ability to track the growing conditions in isolated rooms, as well as documenting the feeding schedule and soil condition in order to gather information to accurately assess the cultivation process. This documentation will allow the Company to consistently produce high quality products in every harvest. This consistency is vital to the Company’s cultivation model where the goal is a predictable outcome in every harvest.
CEO of Core One Labs Inc., Brad Eckenweiler, stated, “The introduction of Reiziger® and their cultivation technology into our operation is a major step in the growth of Core One Labs. The ability to have Shaun Reid and his team of master Dutch breeders and growers share their decades of experience is extremely valuable and will result in accelerating the Core Isogenics nursery years ahead of what would have been a long learning curve. Most certainly our indoor growing ability will be the primary beneficiary with higher yields and stronger cannabinoid profiles.” The Company will continue to update the market on the development of this exciting project.
SOURCE Core One Labs Inc.
IMCC Appoints Yaron Berger as CEO of IMC Holdings
IM Cannabis Corp. (the “Company” or “IMCC”) (CSE: IMCC), one of the world’s pioneering medical cannabis companies with operations across Europe, is pleased to announce the appointment of Yaron Berger as Chief Executive Officer of I.M.C. Holdings Ltd. (“IMC“), the Company’s wholly-owned operating subsidiary in Israel. Oren Shuster will remain the Chief Executive Officer of IM Cannabis Corp.
Mr. Berger brings more than 10 years of experience in various senior roles both in public and private sectors, leading large-scale operations. Most recently, Mr. Berger was the Chief Executive Officer of Telepharma Ltd. (“Telepharma,” doing business as epharma), a leading wholesaler, direct marketer of prescription drugs and chain of pharmacies in Israel. At Telepharma, among other accomplishments, Mr. Berger re-branded its digital platform and transformed the customer experience. As an early entrant into the medical cannabis sector, Mr. Berger also established Greenpharma under Telepharma, a full-service distributor, patient counselling service provider and online resource for medical cannabis patients in Israel. Prior to his experience in the pharmaceutical sector, Mr. Berger served as the Chief Operating Officer of the National Police Academy and spent over 20 years in the Israeli Air Force, most recently as a Lieutenant Colonel.
Oren Shuster, Chief Executive Officer of IMCC said “Yaron is uniquely qualified to lead our Israeli operations under the new medical cannabis regulatory regime, which requires a high level of engagement and education for the country’s pharmacists on the benefits of medical cannabis. Yaron was an early mover in identifying the opportunity in medical cannabis and we are very excited to benefit from his expertise in the pharmacy channel to maintain IMC’s status as a leading medical cannabis brand in Israel.”
“I am thrilled to be joining the IMC team, who I have known as a leader in the medical cannabis market in Israel over the past ten years,” said Mr. Berger. “The IMC brand is synonymous with quality and innovation. The new medical cannabis reform in Israel presents a significant opportunity for the Company and the IMC brand to further elevate its market position as the preferred medical cannabis brand for physicians, pharmacists and patients.”
SOURCE IM Cannabis Corp.
LCBO’s bottom line proves privatized alcohol sales a bad idea: OPSEU’s Thomas
The LCBO’s latest profits show the Crown corporation’s value to the people of Ontario, OPSEU President Warren (Smokey) Thomas said Friday.
In its 2018/2019 annual report released Thursday, the LCBO is reporting earnings of $2.37 billion on total revenue of $6.39 billion.
Thomas said those profits go to the provincial government and pay for vital public services like health, education and highways.
“This is why the Ford government should rethink allowing corner stores and grocery stores to sell more alcohol,” said Thomas. “Is saving folks a 10 minute drive in some cases worth jeopardizing their health care?”
OPSEU represents LCBO workers and Thomas says these frontline professionals deserve the credit for the corporation’s continued success.
“The reason the LCBO is the gold standard in selling alcohol responsibly is because of OPSEU members who make sure alcohol isn’t sold to minors or intoxicated people,” said Thomas.
“They also provide customer service that is second to none and they’re the ones who have made the LCBO a success story.”
As he read the LCBO report, OPSEU First Vice-President/Treasurer Eduardo (Eddy) Almeida reflected on the Ford government’s decision to take the sale of legalized cannabis away from the Crown Corporation.
“Think of what the LCBO’s profits would have been if Premier Ford hadn’t scrapped the plan of the former Liberal government?” said Almeida. “I’ve put together a lot of budgets and I know how tough an exercise it is.”
“It still makes me shake my head that a government that claimed it had catastrophic financial problems would turn down massive amounts of revenue and go on the misguided course that the Conservatives took. Really? Wow.”
Almeida says municipalities who voted to opt out of Doug Ford’s foolish cannabis privatization plan should stand firm and demand a responsible plan.
“The LCBO continues to prove it’s the best option to keep controlled substances out of the hands of minors,” said Almeida. “Municipalities and Ontarians in general should continue to demand a responsible plan and just say no to Doug’s. After all, a little competition wouldn’t be a bad thing would it?”
SOURCE Ontario Public Service Employees Union (OPSEU)
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