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CannTrust Holdings Inc (TSE:TRST) CEO on Pelham Expansion Progress
CannTrust Holdings Inc (TSE:TRST) (OTCMKTS:CNTTF) (FRA:C9S) CEO Peter Aceto discusses the company’s Q3 revenues and addresses concerns about CannTrust’s expansion plans in Pelham, Ontario. He states that Phase 2 of the company’s expansion, which will allow CannTrust to produce 50,000 kilograms of cannabis annually, should be completed by the end of January. Unfortunately, Pelham has placed a temporary moratorium on cannabis permits. As a result, CannTrust’s Phase 3 expansion, which would push production to 100,000 kilograms of cannabis annually, is currently halted because it requires the approval of additional permits. However, Aceto stresses the company is having productive conversations with town representatives and expects to complete Phase 3 construction by the end of 2019. CannTrust is still planning to uplist to a major US exchange and is taking steps to move to the NYSE.