CannTrust Licences Reinstated
LP Bounces Back After Suspension, Scandal at Vaughn, Ont. Company – LPC
Health Canada has allowed CannTrust licences reinstated almost a year after its initial suspension. CannTrust Holdings Inc. announced it was allowed to start operations at its Fenwick, Ont. facility. The company did not give any timelines for product. CannTrust also noted that its cannabis processing license for its Vaughan manufacturing facility remains under review.
“CannTrust remains without meaningful revenues and has terminated or laid-off a significant portion of its workforce,” the company said in a statement Friday. The company, which entered creditor protection in March, sees this as a new chapter.
“The company plans to begin operations following (this) announcement as an important first step towards rebuilding stakeholder trust and delivering high-quality, innovative products to its patients and customers.”
CannTrust left 72,000 medical customers in limbo when Health Canada passed down the suspensions in September 2019. That also led to the firiing of CEO Peter Aceto. The LP was one of the largest cannabis companies in Canada at the time. With CannTrust licences reinstated, it’s unclear whether or not the company can regain its customer base.
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