TORONTO, Sept. 10, 2020 /PRNewswire/ - CannTrust Holdings Inc. ("CannTrust," or "the Company") today announced that the Company is seeking an order in its proceeding under the Companies' Creditors Arrangement Act ("CCAA") extending the time for CannTrust to call the next annual meeting of shareholders to a date 120 days following the completion of the Company's CCAA proceedings. The motion is scheduled to be heard before a judge of the Ontario Superior Court of Justice, Commercial List, on September 16, 2020 at 12:00 p.m., judicial videoconference via Zoom due to the COVID-19 emergency.
In support of the motion, CannTrust will today file with the Court the following materials (collectively, the "Court Materials"): a Motion Record containing the Notice of Motion, the Affidavit of Greg Guyatt, sworn September 9, 2020 and a draft Order and Factum.
The Court Material, together with details relating to CannTrust's CCAA proceeding, are available on the website of the Court-appointed monitor in CannTrust's CCAA proceedings at https://documentcentre.ey.com/#/detail-engmt?eid=370
This press release contains forward looking statements, including statements with respect to the CCAA proceedings. These forward-looking statements reflect CannTrust's current views and are based on certain assumptions, including assumptions as to future operating conditions and courses of action, sale or refinancing alternatives, economic conditions and other factors CannTrust believes are appropriate. Such forward looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those contained in these statements, including the risk that a sale of, investment in, or refinancing or other strategic alternative may not be available on terms acceptable to CannTrust, or at all, or that any such disposition or other strategic alternative would yield proceeds sufficient to the satisfy CannTrust's obligation to other creditors or any distribution to CannTrust's shareholders; the risk that litigation or defence proceedings involving claims against CannTrust may involve substantial expense and, if successful, could require CannTrust to pay substantial damages; and those risks and uncertainties disclosed in CannTrust's most recently filed prospectus and other regulatory filings posted on SEDAR at www.sedar.com. These risks and uncertainties may cause actual results, events or developments to be materially different from those expressed or implied by such forward-looking statements. Unless required by law, CannTrust does not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or results or other factors.
SOURCE CannTrust Holdings Inc.