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Business

CannTrust's stock market expires after the plant has found a non-compliant, cannabis inventory




The listed shares of CannTrust Holdings Inc.

CTST, + 0.00%

threw 20% in the premarket market on Monday after the Canada-based cannabis firm said the Pelham greenhouse plant, Ontario, was considered "non-compatible" by regulators. The inventory is on track to open at the lowest price seen during regular session hours since October 2017. "The non-compliant assessment is based on observations from the regulator of growing cannabis in five unlicensed rooms and inaccurate information provided to the regulator at CannTrust employees," the company said. In a statement, the company said 5,200 kilograms of dried cannabis was put in place by Health Canada, and the company has voluntarily held approximately 7,500 kilograms of cannabis equivalents at its Vaughan facility, while CannTrust said customers and patients will experience temporary product deficiency due to the team while The company examines the chances of reducing the deficiencies, the company said the economic impact is "unknown" to Health Canada completing its testing. The shares have pulled 36.3% over the last three months to Friday, while ETFMG Alternative Harvest ETF

MJ, -0.28%

has lost 11.5% and S & P 500

SPX, -0.18%

received 3.3%.



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