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
Forward-Looking Statements
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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/canntrust-applies-to-extend-time-for-annual-general-meeting-301127805.html
SOURCE CannTrust Holdings Inc.