Stocks Today September 19, 2019 - RICH TV LIVE - Canntrust Exploding
88Stocks Today September 19, 2019 - RICH TV LIVE - Canntrust Exploding - CannTrust Holdings Inc. ("CannTrust" or the "Company", TSX: TRST, NYSE: CTST) has received notice from the Alberta Gaming, Liquor and Cannabis Commission (the "AGLC"), the Crown corporation in charge of wholesale distribution of cannabis products to licensed cannabis retailers in Alberta, advising the Company that the AGLC has determined that the Company's products sold to the AGLC will be returned to the Company pursuant to the terms of the Cannabis Supply Agreement between the Company and the AGLC (the "Supply Agreement"). Under the terms of the Supply Agreement, goods sold to the AGLC may be returned to the Company for any reason and the Company will be responsible for the cost of the goods and all expenses related to the return.
CannTrust Holdings Inc. (CNW Group/CannTrust Holdings Inc.)
The products to be returned constitute all or substantially all of the Company's products currently held at the AGLC and are valued at approximately $1.3 million in the aggregate. The AGLC operates independently of Health Canada. Health Canada has not ordered a recall in respect of any of the Company's products.
CannTrust remains fully focused on achieving complete regulatory compliance. The Company is committed to rebuilding the trust of all stakeholders, and looks forward to delivering high quality, innovative products to both its patients and customers in the future.
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