Canntrust Holdings Inc (TRST)

[Sam Dan]

Newest update from management

'The Globe and Mail reports in its Tuesday, July 23, edition that Canntrust Holdings has officially responded to Health Canada's finding that the company ran afoul of its regulations. A Canadian Press dispatch to The Globe reports that Canntrust says on July 17 it filed a response to the regulator's non-compliance report, one day before the July 18 deadline, and it now awaits Health Canada's response. Canntrust confirmed it has appointed sports executive Robert Marcovitch as chairman of its previously announced special committee tasked with probing the matter. Mr. Marcovitch is a Canntrust board director and has previously served as president and chief executive officer of K2 Sports LLC, and CEO of Coleman Outdoor. Canntrust said Monday the special committee's "investigation and deliberations are ongoing." The committee "takes these issues very seriously" and is committed to working with Health Canada to bring Canntrust into compliance, Mr. Marcovitch said. "We are determined to identify the root causes for all non-compliance issues." Canntrust said the other members of the special committee were board directors Shawna Page, Mark Dawber and John Kaden, each of whom are independent of company management.