Account Login/Registration

Access KamloopsBCNow using your Facebook account, or by entering your information below.


Facebook


OR


Register

Privacy Policy

Health Canada suspends licence for one of the country's largest cannabis companies

One of the country’s largest cannabis producers is facing a suspension from Health Canada.

In July, CannTrust Holdings was forced to quarantine nearly 13,000 kilograms of cannabis after an inspection discovered the company was growing in rooms that had to be approved by Health Canada.

On Tuesday, Sept. 17, CannTrust announced a partial suspension of the company’s licence for standard cultivation and a full suspension of its licences for standard processing, medical sales, cannabis drugs and research.

However, while the suspension is in effect, CannTrust will be permitted to cultivate and harvest existing lots or batches of cannabis, as well as conducting activities to those lots, including drying, trimming and milling.

The news predictably caused CannTrust stock to plummet even further on the Toronto Stock Exchange, where it now sits $1.70 a share after peaking this year at $13.45 in March.

Health Canada has also mandated that CannTrust take steps to recover cannabis that was not authorized by the company’s original production licence.

CannTrust does have a couple of opportunities to have its licence reinstated if it can prove the original reasons for the suspension were unfounded or the company demonstrates the reasons for the suspension no longer exist.



Send your comments, news tips, typos, letter to the editor, photos and videos to [email protected].




weather-icon
Sat
20℃

weather-icon
Sun
19℃

weather-icon
Mon
23℃

weather-icon
Tue
22℃

weather-icon
Wed
22℃

weather-icon
Thu
22℃
current feed webcam icon

Top Stories

Follow Us

Follow us on Instagram Follow us on Twitter Like us on Facebook Follow us on Linkedin
Follow Our Newsletter
Privacy Policy