Partnership plans to launch its first
specifically designed companion animal focused CBD product in
2018.
VAUGHAN, ON, April 18, 2018 /CNW/ - CannTrust Holdings Inc.
("CannTrust" or the "Company", TSX: TRST), one of Canada's leading licensed producers of medical
cannabis, announced today that it has entered into a letter of
intent with Grey Wolf Animal Health Inc. ("Grey Wolf") to develop
groundbreaking cannabis products to support the well-being of
pets.
Grey Wolf is a privately-owned company established in 2015 by
respected veterinarian Dr. Ian
Sandler and Bloom Burton & Co. Grey Wolf was created to
identify and bring to market products that meet the underserved
needs of veterinarians and pet owners. It is a specialty
animal health company focused on developing, acquiring and
in-licensing companion animal health products for the Canadian and
Global markets.
With the proposed legalization of cannabis, Canadian pet owners
will have the opportunity to explore the use of cannabis for their
pets. Similar to the human medical market; high quality,
pharmaceutical-grade cannabis products can be an integral option in
supporting the overall health and well-being of pets.
There are approximately 16 million cats and dogs in Canada with almost two-thirds of Canadian
households owning a pet. Canadian pet owners are increasingly
treating pets as an extension of their family, driving annual pet
related expenditures to in excess of $5
billion. With over 350 million pets globally, there is a
sizeable market opportunity for cannabis products.
This new partnership will couple CannTrusts' trailblazing
expertise in medical cannabis with Grey Wolf's deep veterinary
experience, giving pet owners a trusted avenue to support the
well-being of their beloved pets. Under the terms of the
partnership, Grey Wolf and CannTrust will be equal partners in a
newly created subsidiary of Grey Wolf. In addition, CannTrust
will upon the exercise of share purchase warrants, become a
substantial shareholder in Grey Wolf.
"CannTrust is delighted to partner with Grey Wolf in the
development of medical cannabis products for the Global pet market.
This is a key step in our strategy to expand our best-in-class
products and technology into adjacent categories. We look forward
to launching, together with Grey Wolf, industry leading, high
quality, standardized cannabis products specifically designed for
pets." said Eric Paul, CEO of
CannTrust.
"CannTrust is the ideal partner for Grey Wolf. We believe that
CannTrust's best practices in manufacturing pharmaceutical-grade
products, distribution and practitioner education programs in the
human medical cannabis market complements our expertise in the
veterinary market to place us at the forefront of cannabis for
pets." said Dr. Ian Sandler, CEO of
Grey Wolf.
About CannTrust®
Since its inception in 2014, CannTrust has led the Canadian
market in producing pharmaceutically standardized product.
As a federally regulated licensed producer, CannTrust brings
more than 40 years of pharmacy and healthcare experience to the
medical cannabis industry. CannTrust currently operates a
50,000 square foot state-of-the-art hydroponic facility
in Vaughan, Ontario, as well
as the recently completed 250,000 square foot Phase 1 redevelopment
of its 430,000 square foot Niagara Greenhouse Facility. The Phase 2
expansion is underway and is anticipated to be completed and in
cultivation towards the middle of 2018.
CannTrust is committed to research and innovation, as well as
contributing to the growing body of evidence-based research
regarding the use and efficacy of cannabis. Our product development
teams along with our exclusive global pharma partner, Apotex Inc.,
are diligently innovating and developing products that will make it
easier for patients to use medical cannabis. We support ongoing
patient education about medical cannabis and have a compassionate
use program to support patients with financial needs. For more
information, please visit: www.canntrust.ca.
About Grey Wolf
Grey Wolf was created in 2015 to identify and bring to market
products that meet the underserved needs of veterinarians and pet
owners across Canada and around
the world. For more information, please visit:
www.greywolfah.com.
Forward Looking Statements
This press release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation, which
are based upon CannTrust's current internal expectations,
estimates, projections, assumptions and beliefs and views of future
events. Forward-looking information can be identified by the use of
forward-looking terminology such as "expect", "likely", "may",
"will", "should", "intend", "anticipate", "potential", "proposed",
"estimate" and other similar words, including negative and
grammatical variations thereof, or statements that certain events
or conditions "may", "would" or "will" happen, or by discussions of
strategy.
Forward-looking information include estimates, plans,
expectations, opinions, forecasts, projections, targets, guidance
or other statements that are not statements of fact.
Any forward-looking information speaks only as of the date on
which it is made, and, except as required by law, CannTrust does
not undertake any obligation to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise. New factors emerge from
time to time, and it is not possible for CannTrust to predict all
such factors. When considering these forward-looking statements,
readers should keep in mind the risk factors and other cautionary
statements in CannTrust's Final Long Form Prospectus
dated August 11, 2017 and filed with the applicable
Canadian securities regulatory authorities on SEDAR
at www.sedar.com. The risk factors and other factors noted in
CannTrust's Final Long Form Prospectus could cause actual events or
results to differ materially from those described in any
forward-looking information.
The closing is expected in Q2-2018 and is subject to completion
of due diligence, execution of definitive agreements and board
approval of both companies.
The TSX does not accept responsibility for the adequacy or
accuracy of this release.
Copyright © 2017 CannTrust Holdings Inc.
SOURCE CannTrust Holdings Inc.