Shares of Canadian licensed producer (LP) CannTrust Holdings (TSX:TRST) took a hit early on Monday (October 1) after the company announced a new executive leader two weeks away from adult-use legalization in Canada.

Eric Paul, co-founder and CEO of CannTrust, confirmed his decision to step down from the role to make room for Peter Aceto as the new executive in charge. Aceto previously served as the CEO for online bank Tangerine.


CannTrust suffered a lag start to the trading week immediately following the departure of Paul. As of market close, shares of the company dropped 2.05 percent to finish with a price of C$12.45. During the day the stock reached a low of C$12.

Paul is not leaving the company entirely; he will step in as chairman of the board and will serve as a special advisor to the management of the company.

“It has been a great honour to serve as the CEO of CannTrust since its inception only five years ago. I take great pride in our team’s collective accomplishments and the incredible progress we have made in such a short period of time,” Paul said in the press release.

Aceto said CannTrust holds “limitless” opportunities ahead of itself. Canada is set to legalize recreational cannabis on October 17 and, despite such a critical time for the industry, Paul indicated the timing was just right for this transition.

CannTrust will make an entry into the recreational market due to its supply agreements with Ontario, Nova Scotia, New Brunswick, PEI, Newfoundland, BC, Alberta and Manitoba.

Thanks to these deals, adult-use cannabis products from the producer’s three recreational brands are guaranteed to become available to legal consumers.

At the same time pot stocks have raised the profile of the entire market, CannTrust’s value has lagged behind its competitors, according to financial experts.

As part of the Investing News Network’s (INN) Q2 cannabis update, Arthur Kwan, CEO and co-portfolio manager for CannaIncome Fund and managing partner with Athena Capital Advisors, said he valued the company despite not being as flashy as its rivals.

“We like the company because it’s a company that’s undervalued relative to its peers,” Kwan, whose fund invested in TRST, told INN in July.

CannTrust upgraded its shares from the Canadian Securities Exchange (CSE) to the Toronto Stock Exchange (TSX) in March. Since then, shares of the company have fluctuated significantly ahead of cannabis legalization.

Since its uplisting on the TSX, the company’s share price has risen 38.75 percent in value to reach a C$1.28 billion market capitalization.

One potential aspect that could boost TRST is a premier US exchange listing following in the footsteps of Cronos Group (NASDAQ:CRON,TSX:CRON) and Canopy Growth (NYSE:CGC,TSX:WEED).

CannTrust has hinted at the possibility of a Nasdaq listing, according to a tweet from chief investment officer for CB1 Capital, Todd Harrison. Paul later told The Globe and Mail he hadn’t made up his mind about the US listing.

“It’s a consideration, but we don’t have a definitive plan for it. No decision has been made to list,” he said in September.

It’s unclear whether new management will pursue the US listing more aggressively.

Aurora Cannabis (TSX:ACB) unveiled its intentions to obtain the coveted listing as part of its Q2 update to shareholders.

Meanwhile, fellow cannabis producer Tilray (NASDAQ:TLRY) was the first Canadian producer to list directly on a US exchange instead of uplisting from a Canadian counterpart.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Centurion to acquire a Disruptive Water-Soluble Cannabinoid Technology Platform Delivering Rapid Onset, Increased Bioavailability, Premium Taste Profiles and Highly Competitive Cost Structure

Centurion Minerals Ltd. (TSXV: CTN) (FSE: XJCB) (“Centurion” or the “Company”) is pleased to announce that it has entered into an Amalgamation Agreement dated February 17, 2021 (the “Agreement”), with HAI Beverages Inc. (“HAI”), whereby Centurion will acquire 100% of the outstanding shares and assets of a wholly-owned subsidiary of HAI (“NewHAI) in exchange for common shares of Centurion (the “Acquisition” or “Transaction”). NewHAI holds all material assets of HAI and the Acquisition will constitute a reverse take-over (“RTO”) of the Company.

Keep reading... Show less

Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today its participation in the following investor conferences:

  • Needham 2nd Annual Virtual Cannabis Conference – March 3 rd , 2021 – Management will participate in virtual one-on-one meetings.
  • 33rd Annual Roth Conference – March 15 th -17 th , 2021 – Charlie Bachtell, CEO and Co-Founder, will participate in a Fireside Chat and management will later participate in virtual one-on-one meetings on April 7 th .
  • Stifel Multi-Sector Conference – April 21 st , 2021 – Management will participate in virtual one-on-one meetings.

About Cresco Labs

Keep reading... Show less

Green Thumb Industries, a leading cannabis consumer packaged goods company and owner of Rise™ Dispensaries, is expanding key partnerships and creating scholarships earmarked for those from communities most impacted by the war on drugs as part of its corporate social responsibility program. The scholarships will be granted to a total of four students for programs at the Cleveland School of Cannabis in Ohio and Olive-Harvey College in Illinois. Additionally, Green Thumb will continue its support of Cabrini Green Legal Aid and partner with the North Lawndale Employment Network in Chicago as part of ongoing collaborations that include financial support, volunteerism and awareness initiatives.

Building on the foundation of Green Thumb’s LEAP initiative, which provided pro-bono support for social equity license applicants in Illinois and which will soon offer business incubator resources to newly awarded social equity entrepreneurs, these impactful partnerships mark a critical next step in prioritizing diversity, equity, and inclusion in the cannabis industry.

Keep reading... Show less

All five flavours of the Company’s KOIOS™ nootropic beverage product are now being carried by Jensen’s, a regional supermarket chain operating in the San Diego, Los Angeles, and Palm Springs areas of Southern California. This placement of KOIOS™ follows several other recent placements of the Company’s beverage products in regional supermarket chains across the United States as part of a strategy to passively build market share in specific geographical areas.

Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that the full range of five flavours of its KOIOS ™ nootropic beverages can now be purchased at all grocery stores operated by Jensen’s Foods (“Jensen’s”), a long-established family-owned grocery chain operating in the San Diego, Los Angeles, and Palm Springs areas of Southern California. In a press release dated February 19, 2021 the Company announced another chain-wide placement of KOIOS ™ nootropic beverages on the west coast of the United States with Market of Choice in Oregon. With this placement of KOIOS ™ in Jensen’s supermarkets, the Company’s beverage products are now carried in approximately 180 retail stores on the west coast, out of a total of more than 4,000 retail stores nationwide.

Keep reading... Show less

 Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) announces that Philip Young, CEO and Director, and Maghsoud Dariani, Chief Science Officer will be presenting on Thursday, February 25th, 2021 at 5:45 pm EST at “The Gold Standard in Psychedelic Investment, Psychedelic Capital Virtual Investment Conference”, a platform showcasing the top companies, latest IPOs, newest opportunities, and deepest industry insights.

As a presenting sponsor, the Company will connect directly with some of the earliest moving investors in the psychedelic industry and reach an audience of 2,000+ investors. Presentations are 30 minutes in length, with 10 minutes allocated to a one-on-one Q&A session with the audience.

Keep reading... Show less