CannTrust – Company Overview

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CannTrust Holdings Inc. (“CannTrust”) is a Canadian licensed producer of medical cannabis incorporated in Ontario on March 16, 2015. Since its inception in 2014, CannTrust has been focused towards producing pharmaceutically standardized cannabis products. The Company was approved by Health Canada under the ACMPR on June 12, 2014. At press time, CannTrust operates a 50,000 square foot hi-tech hydroponic facility in Vaughan, Ontario. However, plans are currently underway to add an additional 430,000 square foot production facility in the Niagara region.

CannTrust (TSX-TRST) – Volume 023

CannTrust Management

Eric Paul – CEO & Director

Mr. Eric serves is a pharmacist by profession and serves as both the CEO of CannTrust Holdings and the Executive Director of CannTrust Inc since 2015. He brings over four decades of experience to CannTrust, having served in numerous senior positions across different organizations in the health industry.

Brad Rogers – President and COO

Mr. Rogers is a notable figure in the medical cannabis industry who brings his expertise in team building, marketing, and growing marijuana to CannTrust. He holds an executive MBA degree from the Richard Ivey School of Business and he is tasked with the role of establishing the Company’s position as a trusted medical cannabis producer in Canada. He was one of the founding members of Mettrum, one of Canada’s largest licensed producer where he served as COO.

Aubrey Dan – Board Chairman

Mr. Dan is a recognized business leader, philanthropist and Tony-Award winning theater producer who graduated from Western University. He served as president of Wampole, a vitamin manufacturing company for five years after working as the director of sales on Novopharm Limited. He founded Dancap Private Equity in 2002 which invests in mid-level Canadian and International businesses and has produced over 25 theater shows which earned him the Tony-Award for best producer.

CannTrust Location and Facilities

CannTrust operates a 50,000-square foot state-of-the-art hydroponic facility that provides pharmaceutical grade control and production. The Company has completed the first phase of expansion at its Niagara facility which is expected to commence production after recent approval from Health Canada. Phase 1 will exploit around 250,000 sq. ft. of the overall 430,000 sq. ft. that the whole project is expected to cover. Phase I is expected to deliver its first harvest by November 2018 and will be able to boost production by 20,000kgs. The second phase of the project is on course and set to be complete by June 2018. Combined, the two facilities will increase production by 40,000kgs.

CannTrust Licenses

The Company is a licensed producer and distributor of medical cannabis as stipulated by the ACMPR, Canada. The company got approval by Health Canada for production on the 50,000 sq. ft. hydroponic facilities in Vaughan, Ontario on June 12, 2014, and it immediately began growing medicinal cannabis. On February 9, 2015, CannTrust received approval from Health Canada to sell medical cannabis. The current license at the Vaughan facility has been extended and now expires in March 2020. The production and sale limits were also lifted.

On October 10, 2017, the company received Health Canada’s Cultivation license approving an additional 250,000 square foot to the existing production capacity. This was as a result of the completion of the first phase of the company’s expansion plans.

In March 2017, CannTrust purchased real estate assets and such other equipment as a production facility located in Fenwick, Ontario via one of its subsidiaries, Elmcliffe. The Company is in the process of seeking approval from Health Canada to modify its license to allow for the production and distribution of medical cannabis through the new facilities.

CannTrust Dried Cannabis and Cannabis Oil Products

Currently, the licensed producers sell dried cannabis products and oil-based cannabis products. Some of its most popular dried cannabis products include:

Product THC Content (%) CBD Content (%)
OG Kush 22 0.9
CT – CBD #1 1.4 20
Diesel 19 Less than 1
Sensi Star 20 Less than 1
Royal Purple Kush 22 Less than 1

Some of the most popular oil-based cannabis products include:

Product THC Content (mg/ml) CBD Content (mg/ml)
CannTrust THC Drops 25 Less than 1
CannTrust 1:1 Drops 12.5 12.5
CannTrust CBD Drops Less than 25

The producer sold 227.8kgs of dried marijuana in the current financial year at an average price of $9.52 per gram and 1113.84 liters of oils at an average price of 90$ per 40ml to its 20,000 active patients.

CannTrust Subsidiaries & Partnerships

CannTrust Inc. and ElmCliffe Investments Inc

The company wholly owns CannTrust Inc. and Elmcliffe Investments Inc. (“Elmcliffe”). On January 13, 2017, the Company executed a purchase and sale agreement to acquire several production assets located in the regional municipality of Niagara, Ontario for $7.5 million. Renovations are underway to convert the greenhouses into a standard growth facility before the company can seek approval from Health Canada.

Club Coffee L.P

On July 15, 2015, the Company entered into a joint venture agreement with Club Coffee L.P. According to the terms, each company holds 50% of the outstanding shares of the above named Joint Venture. The venture saw the creation of Cannabis Coffee & Tea Pod Company Ltd. The joint venture will have access to patents and IP established by both CannTrust and Club Coffee and will form a network of suitable licensees who will use the novel ideas from the venture to manufacture products. The cost of the investment was insignificant. CannTrust owns a 50% stake in the Joint Venture.

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