CAN (ON): CannTrust issues statement regarding product return

CannTrust Holdings has received notice from the Alberta Gaming, Liquor and Cannabis Commission (AGLC), the Crown corporation in charge of wholesale distribution of cannabis products to licensed cannabis retailers in Alberta, advising the company that the AGLC has determined that the company's products sold to the AGLC will be returned to the company pursuant to the terms of the Cannabis Supply Agreement between the company and the AGLC. Under the terms of the Supply Agreement, goods sold to the AGLC may be returned to the company for any reason and the company will be responsible for the cost of the goods and all expenses related to the return.

The products to be returned constitute all or substantially all of the company's products currently held at the AGLC and are valued at approximately $1.3 million in the aggregate. The AGLC operates independently of Health Canada. Health Canada has not ordered a recall in respect of any of the company's products.

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