Greenhouse Canada

News Cannabis
CannTrust appoints new CEO


February 18, 2020
By Greenhouse Canada

Topics

CannTrust has appointed Greg Guyatt as the company’s new CEO.

The company’s former chief financial officer, Guyatt will be replacing interim CEO Robert Marcovitch, who will remain with the company as non-executive chairman to the Board of Directors. A Chartered Professional Accountant, Guyatt previously served as the CFO of GreenSpace Brands, Inc., a natural food product company, and brings nearly 25 years of experience leading finance teams from the consumer packaged goods, pharmaceutical, and private equity sectors.

CannTrust has filed documentation with Health Canada, providing updates on its remediation activities at its Niagara facility. The company anticipates that remediation activities at its Vaughan facility will reach completion during the second quarter of 2020.

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Ultimately, any decision to reinstate the Company’s licenses, and the timing and conditions of any such reinstatement, will rest solely with Health Canada, according to the release. No assurance can be given that Health Canada will reinstate either the Niagara or Vaughan Facility licenses.

CannTrust also announced that it has received an extension for continued listing and trading of the Company’s common shares on the New York Stock Exchange. The extension granted by the NYSE, subject to ongoing reassessment by the NYSE, provides the Company with an additional trading period through April 15, 2020.