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Non-Tech : Marijuana Stocks
CGC 1.170+7.3%Nov 7 9:30 AM EST
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From: kidl7/23/2019 9:54:35 AM
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FP says Canntrust woes spell opportunity for rivals

Canntrust Holdings Inc (C:TRST)
Shares Issued 141,222,547
Last Close 7/22/2019 $3.56
Tuesday July 23 2019 - In the News

The Financial Post reports in its Tuesday edition that Canada's smaller licensed weed producers are sensing an opportunity to increase their patient bases thanks to troubles at Canntrust Holdings. The Post's Vanmala Subramaniam and Victor Ferriera write that Canntrust placed all sales on hold earlier this month after a Health Canada audit found that the company had been growing weed in five unlicensed rooms for months and had provided the regulator with false information. The decision to pause sales has left Canntrust's 72,000 medical cannabis patients in limbo. For Canntrust's rivals, the Health Canada probe spells opportunity. At least five licensed producers told the Post they have seen an uptick in both inquiries and transfers from patients who were being supplied by Canntrust. Puresinse is one of them. Chief executive officer Malay Panchal sees Canntrust's problems as a chance to close the gap between his company, a new LP that only started registering patients in March, and some of the more well known names in the space. Mr. Panchal said: "Let's be clear, what they've done creates uncertainty and distrust not just for the company, but for the industry itself. Having said that, indeed it's an opportunity.

© 2019 Canjex Publishing Ltd.
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