Soon after reaching the essential threshold of listing on the New York Stock Exchange last month, Ontario-primarily based healthcare cannabis company CannTrust Holdings Inc. (TSX:TRST NYSE: CTST) just filed a preliminary brief type base shelf prospectus.
That shelf prospectus will allow CannTrust to supply up to $700,000,000 in shares or securities for the duration of a 25 month period immediately after getting final regulatory approval. The prospectus was filed for just about every Canadian province except for Quebec, as nicely as with the US Securities and Exchange Commission.
Soon after announcing the shelf prospectus filing, CannTrust issued this statement clarifying that no arrangements have been created but to supply the shares to any precise purchaser:
The enterprise filed this shelf prospectus in order to retain monetary strength and flexibility but has not entered into any agreements to authorize or supply any securities at this time. The precise terms of any future supplying will be established in a supplement to the shelf prospectus, which will be filed with the applicable securities regulatory authorities.
Soon after supplying stock internationally by finishing the final regulatory needs to list on the NYSE in late February, CannTrust has also focused on deepening its leadership group with new additions.
Former CFO Ian Abramowitz not too long ago moved into the newly formed Senior VP of International Investments and Partnerships position to discover offers to strike with outdoors cannabis corporations and oversee international expansion.
To fill the Chief Monetary Officer position left empty by that move, CannTrust tapped Greg Guyatt, a former member of upper management from all-natural meals company GreenSpace Brands.
Aside from management adjustments, the bulk of CannTrust’s operations revolve about cannabis intended for each healthcare and recreational consumers developed at the Niagara Perpetual Harvest Facility. The enterprise is presently expanding out that facility immediately after getting nearby permits, with additional than one particular million sq. ft. of production space to be utilized by the final phase of building.
Items developed at that Pelham, Ontario facility created headlines at the finish of 2018 a handful of months immediately after recreational marijuana was legalized when CannTrust dominated the Canadian Cannabis Awards.
The enterprise scored big wins at that higher profile awards occasion, which includes the coveted Licensed Producer Of The Year title.