VAUGHAN, ON, July 31, 2019 /CNW/ - CannTrust Holdings Inc.
("CannTrust" or the "Company", TSX: TRST, NYSE: CTST) today
announced that the special committee (the "Special Committee") of
the Company's board of directors has retained Greenhill & Co.
Canada Ltd. as the Special Committee's financial advisor, to assist
in a review of strategic alternatives. These alternatives could
include, among other things, a sale of the Company or a portion
thereof, a strategic investment, a business combination, changes to
the Company's operations or strategy, or continuing to execute on
the Company's current business plan.
There can be no assurance that the Special Committee's review of
strategic alternatives will result in any transaction. The Special
Committee has not set a timetable for the conclusion of its review
of strategic alternatives and it does not intend to comment
further. The nature, timing and outcome of the strategic review
process will be influenced by, among other things, the resolution
of the Company's regulatory compliance issues with Heath Canada.
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 timeframe and
resolution for the completion of Health Canada's quality product
testing and the Company's response to Health Canada's compliance
report. Forward-looking information and statements necessarily
involve known and unknown risks, including, without limitation:
results of Health Canada's quality product testing; regulatory
approval; 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.