What’s possible is somebody’s going to attend till the corporate bleeds out additional, earlier than coming in to see what’s left’
CannTrust’s inventory took one other main hit on Monday after the embattled cannabis producer disclosed it had acquired a second non-compliance ranking from Well being Canada, this time in connection to its facility in Vaughan, Ont.
The violations on the 60,000-square-foot manufacturing facility included changing 5 rooms into storage areas that have been used to carry cannabis starting in June 2018 and the development of two new areas, considered one of which was used to retailer cannabis from November 2018 onwards, all with out approval from Well being Canada.
The corporate’s shares plunged greater than 27 per cent to shut at $3.04 in Toronto, erasing a lot of a shock achieve they’d posted on Friday. They continue to be nicely under the $6.46 mark at which they have been buying and selling six weeks in the past, when the corporate first acknowledged it was being investigated for rising cannabis in unlicensed rooms in its Pelham, Ont., facility.
Well being Canada performed an inspection of the Vaughan facility between July 10 to July 16, which led to the newest non-compliance order.
Since legalization, Well being Canada had solely performed one different in-person inspection of that facility, on April 16, 2019, in accordance with division spokesperson Tammy Jarbeau. [Read More @ Financial Post]