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Non-Tech : Marijuana Stocks

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Nov 7 9:30 AM EST

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From: kidl	7/31/2019 11:17:11 AM
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Globe says Canntrust is a potential takeover target Canntrust Holdings Inc (C:TRST) Shares Issued 141,222,547 Last Close 7/30/2019 $2.84 Wednesday July 31 2019 - In the News The Globe and Mail reports in its Wednesday, July 31, edition that the price of Canntrust Holdings shares has declined 56 per cent since July 8 amid concerns that the company could lose its cannabis-growing license. The Globe's Mark Rendell writes that the steep drop in Canntrust's share price has made the company a potential takeover target. However, it is unlikely that the company would consider bids until it gets more clarity from regulators about its future, says interim CEO Robert Marcovitch. He calls any discussion at this point in time "premature." When asked whether the company would retain its licence, Mr. Marcovitch said he was "not speculative by nature," but that he hoped the board's actions over the past few weeks would show Canntrust was serious about once again becoming compliant with regulations. Canaccord Genuity analyst Derek Dley wrote that a licence suspension was "now more likely than not" for Canntrust. Mr. Dley says, "While we believe Canntrust's physical assets may still be of value to other Canadian licensed producers, we do not anticipate the company being acquired in the near term given the uncertainty surrounding the penalty expected to be levied by Health Canada." © 2019 Canjex Publishing Ltd.

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