CannTrust to destroy $77-million worth of cannabis plants, inventory to return to full regulatory compliance

This translation has been automatically generated and has not been verified for accuracy.

Cannabis producer CannTrust Holdings Inc. said on Monday it would destroy about $12-million worth of plants and about $65-million worth of inventory, as the company’s new management seeks to regain full regulatory compliance.Health Canada had frozen more than half of CannTrust’s stock of marijuana and the company had earlier estimated its inventory and assets impacted by regulatory issues to be about $51-million.

Since the company was found to be growing illegal pot back in July, it has fired its chief executive officer, disclosed a regulatory investigation, and said its results may have to be restated.The Ontario-based company said its plan to regain regulatory compliance includes measures to recover cannabis that was not authorized by CannTrust’s licence and improve its inventory tracking.

globeinvestor Regulations the problem. Price fixing is the problem. You’re just keeping the black market alive

globeinvestor What?

globeinvestor canntrust set to destroy $77 million worth of cannabis...Sure they are...How much of that do you think is going out the back door?

globeinvestor Wait wait! Destroy medicine for patients?!?! Why can’t CannTrust GIVE the inventory to a Canadian Compassion Club after it passed nat’l testing? Then pay a fine and remediate any environmental impacts from wasteful, non complaint cultivation

globeinvestor Generate lots of pollution and CO2 to the air.

globeinvestor I volunteer as tribute

globeinvestor Whoever wrote the regulation needs psychotherapy. I thought before writing it.

globeinvestor How did Canada ruin legalizing marijuana?

globeinvestor What a wasteful and pointless exercise. Destroying plants will not do a thing to correct what was done wrong in the past. How about they give away the product for free to medical marijuana users ?

globeinvestor 😪

globeinvestor How much energy did it cost to grow these plants?

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Putin says no reliable information about who attacked Saudi oil plantsYemen’s Houthi movement responsibility for the Sept. 14 attacks, but Riyadh and Washington blamed Tehran Ezra knows
Source: globeandmail - 🏆 5. / 92 Read more »

Sharks' Patrick Marleau gets standing ovation in return to San Jose - Sportsnet.caIt's never too late to go back to where it all began. Patrick Marleau received an emotional standing ovation from the SanJoseSharks faithful in his first game back in San Jose. 🎥⬇ SanJoseSharks One of the greats. Much love, Patty FAN590 SanJoseSharks Patty’s upgraded to a 1 piece stick! SanJoseSharks He is SO awesome that I gave him a solo standing O at work 💙💙🚨🚨
Source: Sportsnet - 🏆 57. / 59 Read more »

The top 4 products containing cannabis that you can buy at Sephora right nowThe top 4 products containing cannabis that you can buy at Sephora right now via TheGrowthOp TheGrowthOp I am looking for suppository.
Source: nationalpost - 🏆 10. / 80 Read more »

Thoughts on OG Anunoby, Zach LaVine and more - TSN.caTSN Basketball Analyst Jack Armstrong returns with his thoughts on OG Anunoby, Zach LaVine and more.
Source: TSN_Sports - 🏆 80. / 51 Read more »

U.S. pulling out of northern Syria; full withdrawal possibleThe United States appears to be heading toward a full military withdrawal from Syria amid growing chaos, cries of betrayal and signs that Turkey's invasion could fuel a broader war. As every other sane nation, making itself great is the first priority. Others have long taken US protection as granted... why don’t they go to UN before it is abolished. get the westerners all out and let the muzies destroy each other, peace loving my ass...pure evil 'We're going to defeat ISIS and bring the troops home.' The crowd then cheered.
Source: CTVNews - 🏆 1. / 99 Read more »