Medical Cannabis Innovator Set to Go Public
Source: Streetwise Reports
August 21, 2017 (Investorideas.com Newswire) A licensed producer of medical cannabis in Canada will begin trading on the Canadian Securities Exchange on Aug. 21.
Shares of CannTrust Holdings Inc. (TRST:CSE), which has a 40,000 square foot hydroponic production facility in Vaughan, Ontario, will begin trading on the Canadian Securities Exchange on Monday, Aug. 21 under the symbol TRST.
The company operates under the Health Canada Access to Cannabis for Medical Purposes Regulation (ACMPR). According to CannTrust, the company's strategy is to "produce the highest quality, standardized, pharmaceutical-grade cannabis products" and it is "dedicated to the 'pharmaceuticalization' of the medical cannabis market." CannTrust's product and intellectual property development teams "consist of experienced pharmacists, nurses, medical doctors and growers along with a clinically trained client support team."
CannTrust has been growing exponentially. From 4,000 active patients at the end of June 2016, the company now has 25,000.
The company's financials reflect this growth. Its Q1/17 revenue of CA$3 million is a 333% increase from Q1/16 and a 45% increase from Q4/16.
In March, CannTrust, through its Elmcliffe subsidiary, purchased a 430,000 sq. ft. greenhouse facility on 48 acres in the Niagara area and has applied to amend its license to include medical cannabis production from the greenhouse facility. The first part of the facility, 215,000 sq. ft., is expected to be operational by the end of the year, and this will substantially increase production capability.
The Vaughan facility can produce 2,500 kg of medical cannabis annually. When the Niagara greenhouse is fully operational, it will have 25,000 kg of annual medical cannabis capacity.
The company has partnered with Apotex Inc., a global generic pharmaceutical manufacturer, to develop novel dosage formats and products. According to CannTech, "Apotex has existing sales infrastructure in 85 countries that is expected to allow the rapid commercialization of new CannTrust products around the world; when such sales are permitted product formats could include gel capsules, patches, and other controlled-release dosage technologies."
CEO Eric Paul stated, "It is an important part of our business to highlight to our patients, physicians, investors and regulators that patient centric care, products and services, a culture of compliance and the highest standards can be rewarding to all stakeholders. We have an amazing team, who have built this business and we look forward to the commencement of trading of "TRST" next Monday, August 21, 2017."
CannTrust announced that it plans to release Q2 financials by Aug. 29.
1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She owns, or members of her immediate household or family own, securities of the following companies mentioned in this article: None. She is, or members of her immediate household or family are, paid by the following companies mentioned in this article: None.
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