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CANNTRUST TO DESTROY $75M IN STOCK

Scandal-plagued LP CannTrust announced it will destroy $12M in unlicensed biological assets and $65M in unlicensed inventory in order to regain regulatory compliance.
New Cannabis Ventures, CBC Business

  • Previously the company estimated it would lose $51M worth of assets that were non-compliant.
  • Turns out if you want to destroy $77M worth of cannabis, you can’t just “put it in a big pile outside the building and spark it up.” (Not even if you keep the children upwind?) Instead, the material may be mulched, buried in landfills, mixed with kitty litter, or torched in an industrial incinerator. National Post

Quick Hits

  1. Once worth $4.40 (December 2017), MYM Neutraceuticals’ stock is now trading at $0.12. That’s bad news for the Quebec municipality of Weedon, where MYM was going to build a 1.5M square-foot production site. Construction stopped last fall and hasn’t restarted.
    Journal de Montréal—In French
  2. MED researchers continue to complain about Health Canada’s glacial clinical trial approval process. Some say it’s now faster to go to the US and endure the DEA’s three month wait for clinical trial approval.
    Twitter—Jonathan Page