VAUGHAN, ON, July 13, 2018 /PRNewswire/ - CannTrust
Holdings Inc. ("CannTrust" or the "Company", TSX: TRST), one of
Canada's leading licensed
producers of cannabis, explodes into the adult use market with its
first three recreational cannabis supply agreements. Far surpassing
CannTrust's initial sales projections, combined agreements from
British Columbia, Alberta and Manitoba for CannTrust's high-quality,
standardized cannabis under three recreational brands – Liiv,
SYNR.G and Xscape – are projected to exceed 17,000 kilograms
annually. The broad range of products include dried flower,
pre-rolled joint, oil and capsules. These will be available for
legal purchase in cannabis retailers, as well as online, on
October 17, 2018. CannTrust is
excited to build on this positive momentum as supply agreements
with additional provinces are currently being finalized.
"This is just the beginning for CannTrust! We are now a trusted,
primary supplier in British
Columbia, Alberta and
Manitoba, thanks to our
unparalleled product quality, value, innovations and proven
expertise. These supply agreements surpass our initial expectations
and we are energized to work with – and expand – our relationships
with all provinces, as we continue to sign agreements across the
country. It's a very exciting time for CannTrust and for
Canada," says Brad Rogers, President of CannTrust.
CannTrust continues to look beyond October 17, with innovative research focused on
"what's next" in the evolving Canadian cannabis market. The Company
has several new products in development including hot beverages,
sport drinks and alcohol products infused with THC and/or CBD,
along with vape pens for hassle-free inhalation.
Thanks to extensive planning, CannTrust is ready to meet the
escalating demand for its high-quality, standardized cannabis.
Inventory for both the medical and recreational markets will be
grown at CannTrust's new, first-of-its-kind, perpetual harvest
facility in Niagara, Ontario. This
facility is designed to ensure that customers always have access to
top-quality product at affordable prices. The facility is currently
operating at an annualized output estimated at 50,000 kilograms
and, to meet projected demand, a new 600,000 sq. ft. expansion is
already funded and underway. Once the Niagara facility is fully
operational, output will more than double to in excess of 100,000
kilograms and will set new standards for cost effectiveness in the
marketplace.
CannTrust's innovative and disciplined approach and scientific
expertise that has propelled its success in the medical arena will
be applied to and used to differentiate CannTrust in the adult use
market. Promising unsurpassed quality, the three CannTrust
recreational brands will provide this new market with consistent
standardized product. At the same time, CannTrust continues its
commitment to the medical market and its patients who depend on
CannTrust's trusted supply of premium dried flower, cannabis oils
and vegan capsules.
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 60,000
sq. ft. state-of-the-art hydroponic facility in Vaughan, Ontario, as well as the recently
completed 250,000 sq. ft. Phase One redevelopment of its 450,000
sq. ft. Niagara Greenhouse Facility. The Phase Two expansion is
underway and is anticipated to be completed and in cultivation by
Fall 2018. Phase Three construction, with an additional projected
600,000 sq. ft., has begun and is fully funded.
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.
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.
The forward-looking information in this news release is based
upon the expectations, estimates, projections, assumptions and
views of future events which management believes to be reasonable
in the circumstances. Forward-looking information includes
estimates, plans, expectations, opinions, forecasts, projections,
targets, guidance or other statements that are not statements of
fact. Forward-looking statements in this news release include, but
are not limited to, statements with respect to internal
expectations, expectations with respect to actual production
volumes, expectations for future growing capacity, expectations for
future legalization in Canada of
edible cannabis products and the completion of any capital project
or expansions. Forward-looking statements necessarily involve known
and unknown risks, including, without limitation, risks associated
with general economic conditions; adverse industry events; loss of
markets; future legislative and regulatory developments; inability
to access sufficient capital from internal and external sources,
and/or inability to access sufficient capital on favourable terms;
the cannabis industry in Canada generally; the ability of
CannTrust to implement its business strategies; competition; crop
failure; and other risks.
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 Annual Information Form dated
March 29, 2018 (the "AIF") and filed
with the applicable Canadian securities regulatory authorities on
SEDAR at www.sedar.com. The risk factors and other factors noted in
the AIF could cause actual events or results to differ materially
from those described in any forward-looking information.
The TSX does not accept responsibility for the adequacy or
accuracy of this release.
Copyright © 2017 CannTrust Holdings Inc.
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SOURCE CannTrust Holdings Inc.