CannTrust Statement Regarding Notice of Product Return at Ontario Cannabis Store

加拿大大麻商店退货CannTrust部分产品,总值约为290万美元

2019-08-20 08:00:04 CISION

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CannTrust Holdings Inc. has received a notice from the Ontario Cannabis Store , the Crown corporation in charge of wholesale distribution of cannabis products to licensed cannabis retailers in Ontario and the operator of Ontario's online recreational cannabis store, advising the Company that the OCS has determined certain of the Company's products sold to the OCS are Non-Conforming Products under the terms of the Master Cannabis Supply Agreement between the Company and the OCS and that the OCS has elected to return these products to the Company.  Under the terms of the Master Agreement, any product that does not comply with applicable law is considered to be Non-Conforming Product and the OCS may elect to exercise its right, among others, to return such product to the Company at the Company's expense. The products listed in the OCS return notice constitute all or substantially all of the Company's products currently held at the OCS and are valued at approximately $2.9 million in the aggregate.  The Company intends to fully perform its obligations under the Master Agreement.  The OCS operates independently of Health Canada.  Health Canada has not ordered a recall in respect of any of the Company's products. About CannTrust CannTrust is a federally regulated licensed producer of medical and recreational cannabis in Canada. Founded by pharmacists, CannTrust brings 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 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.
CannTrust Holdings Inc .已收到安大略省大麻商店( Ontario Cannabis Store )的通知,该商店是皇家公司,负责将大麻产品批发给安大略省的特许大麻零售商和安大略的在线娱乐大麻商店运营商。通知本公司, OCS 已根据本公司与 OCS 之间的主 Cannabis 供应协议的条款确定本公司向 OCS 销售的某些产品为不合格产品,且 OCS 已选择将这些产品返还本公司。根据主协议的条款,任何不符合适用法律的产品均被视为不合格产品, OCS 可选择行使其权利(其中包括)将该产品退回公司,费用由公司承担。 OCS 退货通知书所列产品构成本公司现时于 OCS 持有的全部或绝大部分产品,总值约为2.9百万美元。本公司拟全面履行主协议项下之义务。OCS 独立于加拿大卫生部运营。加拿大卫生部尚未下令召回该公司的任何产品。 关于佳能信托 CannTrust 是由联邦监管的加拿大医疗和娱乐大麻的特许生产商。CannTrust 由药师创立,为医用大麻行业带来多年的医药和医疗经验,并以其干燥、提取和胶囊产品为医疗患者服务。本公司在安大略省的 Pelham 经营其 Niagara 永久收获工厂,并在其位于安大略省 Vaughan 的制造中心准备和包装其产品组合。该公司还在不列颠哥伦比亚省购买了81英亩土地,预计将获得240多英亩土地,用于低成本的户外种植,并将用于其基于萃取的产品。

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