CannTrust’s cannabis licenses suspended by Health Canada

加拿大卫生部暂停了 CannTrust 的大麻许可证

2019-09-18 07:00:37 mjbizdaily


Citing noncompliance with Canada’s federal cannabis law and regulations, embattled producer CannTrust says it has received a Notice of License Suspension from Health Canada. It is the second cannabis company to have a federal license suspended in recent weeks. CannTrust has 10 business days to respond to Health Canada’s action, the regulator told Marijuana Business Daily.  “Health Canada inspectors have delivered the notices of suspension to CannTrust Inc. today, and are seizing and detaining all cannabis products at both sites,” Tammy Jarbeau, media relations officer, said in an email. “Health Canada may also determine that additional compliance and enforcement actions are warranted.” Health Canada said it decided to suspend CannTrust’s cannabis licenses after recent inspections of its Pelham and Vaughn facilities. Under the terms of the suspension, CannTrust is permitted to take necessary actions to “maintain the viability and quality of cannabis plants and cannabis products” while Health Canada reviews any CannTrust response. In a statement, CannTrust said the action constitutes a partial suspension of its license for standard cultivation and a full suspension of its licenses for standard processing, medical sales and research. The Ontario company said it will be allowed to cultivate and harvest existing batches previously propagated while the suspension remains in effect. Since a whistleblower alerted Health Canada in July to unlicensed cultivation at the company’s cultivation facility in Pelham, Ontario, CannTrust has been in a tailspin. In the weeks following, the company halted all adult-use and medical sales, fired its senior leadership and is facing an investigation by police and securities regulators. ‘Doesn’t matter how big you are’ Matt Maurer of Torkin Manes cannabis law group in Toronto, said Health Canada’s move comes as no surprise to industry watchers. “Certainly it’s the most significant case of a license being suspended thus far,” he said. CannTrust’s suspension comes on the heels of another handed down to British Columbia-based Evergreen Medicinal Supply on Aug. 9 over noncompliance with federal law and regulations. “It signals that none of the licensees are above potentially running into problems. It doesn’t matter how big you are, or how well run you appear to be,” Maurer said. CannTrust had been considered an industry leader. Its now deposed former CEO Peter Aceto joined the cannabis company from Tangerine bank, a subsidiary of Scotiabank, last October. “This was a company that from the outside looked like it was very well run, massive company that had really good things going for it. And then all these things sort of came out of left field, which ultimately resulted in their license getting suspended.” Takeaway Maurer said other cannabis companies should think twice about bending the rules. “Either this will be the start of a series of suspensions or actions taken by Health Canada, or hopefully to the extent that there are other companies that are not being compliant, this will be a wake up call to get everything in order before Health Canada comes knocking,” he said. “Clearly the takeaway is that cutting corners, if that’s what people are going to do, doesn’t pay off in the long run. “Because cutting a corner here and there results in a license suspension and the inability to carry on business for an extended period of time far outstrips any potential benefit you would have gotten by cutting some corners.” Next steps Health Canada’s notice states that CannTrust’s licenses can be reinstated if certain conditions are met, including if the reasons for the suspension no longer exist or if the company demonstrates the suspension was unfounded. According to CannTrust, Health Canada says the implementation of the following measures could address the public health and safety risks that contributed to the suspension: According to Health Canada’s Compliance and Enforcement Policy for the Cannabis Act, a range of enforcement actions are available. Those include: CannTrust Tuesday halted trading of its shares (TRST) on the Toronto Stock Exchange pending the announcement. Before trading was stopped, CannTrust’s shares were last sold at CA$1.72. That’s 87% off the stock’s all-time high almost one year ago. The company was also dropped from the S&P/TSX Composite Index last week. CannTrust’s shares trade on the Toronto and New York stock exchanges. For analysis and in-depth looks at the investment trends and deals driving the cannabis industry forward, sign up for our premium subscription service, Investor Intelligence.
由于不遵守加拿大联邦大麻法律和法规,陷入困境的生产商 CannTrust 表示已收到加拿大卫生部的许可证暂停通知。 这是最近几周第二家大麻公司被吊销联邦执照。 监管机构对《大麻商业日报》表示, CannTrust 有10个工作日来回应加拿大卫生部的行动。 媒体关系官员塔米·贾博( Tammy Jarbeau )在一封电子邮件中说:“加拿大卫生部的检查人员今天向 CannTrust Inc .发出了暂停的通知,并在这两个地点扣押和扣留了所有大麻产品。” “加拿大卫生部还可能决定是否有必要采取更多的合规和执法行动。” 加拿大卫生部表示,在最近对其 Pelham 和 Vaughn 设施进行检查后,决定暂停 CannTrust 的大麻许可证。 根据暂停条款, CannTrust 可采取必要行动“维持大麻植物和大麻产品的可行性和质量”,同时加拿大卫生部审查 CannTrust 的任何回应。 CannTrust 在一份声明中表示,此举构成部分暂停其标准培育许可,以及全面暂停其标准加工、医疗销售和研究许可。 安大略省的公司说,将允许种植和收获现有的批次之前传播,暂停仍然有效。 自从一名举报者在7月份向加拿大卫生部( Health Canada )发出警告,要求该公司在安大略省佩勒姆( Pelham )的种植设施进行无证种植以来, CannTrust 一直处于亏损状态。 在接下来的几周里,该公司停止了所有成人使用和医疗销售,解雇了高级领导层,并面临着警方和证券监管机构的调查。 “你有多大可不重要? 多伦多 Torkin Manes 大麻法律集团的马特•莫勒( Matt Maurer )表示,加拿大卫生部此举对行业观察人士来说并不意外。 “当然,这是迄今为止暂停许可证的最重要案例,”他表示。 在 CannTrust 被停职之前,8月9日,另一家公司因不遵守联邦法律法规而被移交给总部位于哥伦比亚的 EvergreenMedicalSupply 。 Maurer 表示:“这表明,没有一家被许可方可能会遇到问题。这与你的规模有多大,或者你的运营状况有多好无关。” 佳能信托被认为是行业的领导者。 去年10月,苏格兰皇家银行( Scotiabank )的子公司 Tangine Bank 加入了大麻公司。 “这是一家外部看起来运营良好、规模庞大的公司,确实有好的事情要做。所有这些东西都是从左边出来的,最终导致他们的许可证被吊销。” 被带走 莫瑞尔说,其他大麻公司应该两次考虑改变规则。 “这要么是加拿大卫生部采取的一系列暂停或行动的开始,要么是希望其他公司不符合规定的程度,这将是在加拿大卫生部采取打击行动之前,让一切都井井有条的警钟。” “显然,关键在于,如果人们要这样做,那么从长远来看,切削角不会有回报。 “因为在这里切一个角落,导致许可证暂停,无法继续经营很长一段时间,远远超过了切个角落可能获得的任何好处。” 接下来的步骤 加拿大卫生部的通知指出,如果满足某些条件,可以恢复 CannTrust 的许可证,包括如果暂停的原因不再存在,或者公司证明暂停是没有根据的。 根据 CannTrust ,加拿大卫生部表示,实施以下措施可以解决导致暂停的公共卫生和安全风险: 根据加拿大卫生部针对大麻法案的合规和执法政策,可采取一系列执法行动。 其中包括: 佳能信托周二在宣布消息之前,暂停了在多伦多证券交易所( TorontoStockExchange )的股票交易。在停止交易之前, CannTrust 的股票最后以1.72加元的价格出售。 这比一年前的历史高点下跌了87%。 该公司上周也从标准普尔/ TSX 综合指数中下跌。 CannTrust 的股票在多伦多和纽约证券交易所交易。 为了分析和深入研究推动大麻产业向前发展的投资趋势和交易,注册我们的高级订阅服务,投资者情报。