VAUGHAN, ON, July 22, 2019 /CNW/ - CannTrust Holdings
Inc. ("CannTrust" or the "Company", TSX: TRST, NYSE: CTST)
announces that as a result of months of discussions, CannTrust has
agreed to waive the exclusivity provision under the Brokerage
Agreement between CannTrust and Kindred Partners Inc. It is
expected that this revised arrangement will over time allow
CannTrust to reduce the expenditures incurred by CannTrust under
the Brokerage Agreement.
About CannTrust
CannTrust is a federally regulated licensed producer of medical
and recreational cannabis in Canada. Founded by pharmacists,
CannTrust brings more than 40 years of pharmaceutical and
healthcare experience to the medical cannabis industry and serves
medical patients with its dried, extract and capsule products. The
Company operates its Niagara Perpetual Harvest Facility
in Pelham, Ontario, and prepares and packages its product
portfolio at its manufacturing centre of excellence
in Vaughan, Ontario. The Company has also purchased 81
acres of land in British Columbia and expects to secure
over 240 acres of land in total for low-cost outdoor cultivation
which it will use for its extraction-based products.
Forward Looking Statements
This press release contains "forward-looking information" within
the meaning of Canadian Securities laws and "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and other applicable
United States safe harbor laws,
and such statements are based upon CannTrust's current internal
expectations, estimates, projections, assumptions and beliefs and
views of future events. Forward-looking information and
forward-looking statements can be identified by the use of
forward-looking terminology such as "believes", "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 and statements in this news
release include statements relating to the expected cost reductions
resulting from the revised arrangement with Kindred.
Forward-looking information and statements necessarily involve
known and unknown risks, including, without limitation: achieving
expected cost reductions with Kindred; risks associated with
general economic conditions; adverse industry events; loss of
markets; future legislative and regulatory developments in
Canada, the United States and elsewhere; the cannabis
industry in Canada generally; and,
the ability of CannTrust to implement its business strategies.
Any forward-looking information and statements speak only as of
the date on which they are made, and, except as required by law,
CannTrust does not undertake any obligation to update or revise any
forward-looking information or statements, 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
information and statements, readers should keep in mind the risk
factors and other cautionary statements in CannTrust's Annual
Information Form dated March 28, 2019
(the "AIF") and filed with the applicable Canadian securities
regulatory authorities on SEDAR at www.sedar.com and filed as an
exhibit CannTrust's Form 40-F annual report under the United States
Securities Exchange Act of 1934, as amended, with the United States
Securities and Exchange Commission on EDGAR at www.sec.gov. 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 or statements.
The TSX and NYSE do not accept responsibility for the adequacy
or accuracy of this release.
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SOURCE CannTrust Holdings Inc.