CannTrust CEO fired, chairman resigns amid Health Canada investigation - Global News

CannTrust Holdings Inc. has fired its CEO and asked its chairman to resign after the board discovered new information during an internal investigation into alleged unlicensed pot growing by the cannabis producer.READ MORE: CannTrust shares dive on report that execs knew of unlicensed pot growingThe company’s board of directors decided to “terminate with cause” chief executive Peter Aceto, the company said in a statement released after markets closed Thursday.The move comes after several media reports cited internal documents that suggest Paul and Aceto were aware of pot cultivation in rooms at a Pelham, Ont., facility without government approval months before Health Canada discovered the illicit activity.The board also demanded company chair Eric Paul resign, which he did. It added that it is preparing to make additional operational changes in the following days and weeks.WATCH: CannTrust marijuana producer on pot shortages, cannabis legalization and product innovation


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July 26, 2019 at 06:11AM