what a really sad story this sector is becoming that had so much promise. I assume commons will be wiped out
Canntrust Holdings Inc (C-TRST) - News Release
Canntrust receives protection under CCAA
2020-03-31 12:00 AT - News Release
Shares issued 141,487,193
TRST Close 2020-03-30 C$ 0.91
An anonymous director reports
CANNTRUST OBTAINS INITIAL ORDER UNDER COMPANIES' CREDITORS ARRANGEMENT ACT (CANADA)
Canntrust Holdings Inc. has obtained an order from the Ontario Superior Court of Justice (Commercial List) granting protection under the Companies' Creditors Arrangement Act (Canada). In accordance with the Initial Order, all creditors of Canntrust, Canntrust Inc., CTI Holdings (Osoyoos) Inc., and Elmcliffe Investments Inc. (the "Applicants"), as well as the plaintiffs in the putative class actions and other litigation brought against the Applicants, will be stayed from enforcing their claims. The Initial Order provides for a stay of proceedings in favour of the Applicants for an initial period of 10 days, subject to such extensions as the Court may subsequently order, and the appointment of Ernst & Young Inc. as Monitor in the CCAA proceedings.
After reviewing a number of options, Canntrust's Board of Directors determined that commencing CCAA proceedings is in the Company's best interests. The Company hopes to exit CCAA protection well-positioned to rebuild its stakeholders' trust and deliver high-quality, innovative products to its patients and customers.
Investing is for those who don't know how to trade
