CannTrust Goes West! - CannTrust's Three Recreational Supply Agreements in Western Canada Projected to Exceed 17,000kg Annually
VAUGHAN, Ontario, July 13, 2018 /PRNewswire/ --
CannTrust Holdings Inc. ("CannTrust" or the "Company", TSX: TRST), one of Canada's leading licensed producers of cannabis, explodes into the adult use market with its first three recreational cannabis supply agreements. Far surpassing CannTrust's initial sales projections, combined agreements from British Columbia, Alberta and Manitoba for CannTrust's high-quality, standardized cannabis under three recreational brands - Liiv, SYNR.G and Xscape - are projected to exceed 17,000 kilograms annually. The broad range of products include dried flower, pre-rolled joint, oil and capsules. These will be available for legal purchase in cannabis retailers, as well as online, on October 17, 2018. CannTrust is excited to build on this positive momentum as supply agreements with additional provinces are currently being finalized.
"This is just the beginning for CannTrust! We are now a trusted, primary supplier in British Columbia, Alberta and Manitoba, thanks to our unparalleled product quality, value, innovations and proven expertise. These supply agreements surpass our initial expectations and we are energized to work with - and expand - our relationships with all provinces, as we continue to sign agreements across the country. It's a very exciting time for CannTrust and for Canada," says Brad Rogers, President of CannTrust.
CannTrust continues to look beyond October 17, with innovative research focused on "what's next" in the evolving Canadian cannabis market. The Company has several new products in development including hot beverages, sport drinks and alcohol products infused with THC and/or CBD, along with vape pens for hassle-free inhalation.
Thanks to extensive planning, CannTrust is ready to meet the escalating demand for its high-quality, standardized cannabis. Inventory for both the medical and recreational markets will be grown at CannTrust's new, first-of-its-kind, perpetual harvest facility in Niagara, Ontario. This facility is designed to ensure that customers always have access to top-quality product at affordable prices. The facility is currently operating at an annualized output estimated at 50,000 kilograms and, to meet projected demand, a new 600,000 sq. ft. expansion is already funded and underway. Once the Niagara facility is fully operational, output will more than double to in excess of 100,000 kilograms and will set new standards for cost effectiveness in the marketplace.
CannTrust's innovative and disciplined approach and scientific expertise that has propelled its success in the medical arena will be applied to and used to differentiate CannTrust in the adult use market. Promising unsurpassed quality, the three CannTrust recreational brands will provide this new market with consistent standardized product. At the same time, CannTrust continues its commitment to the medical market and its patients who depend on CannTrust's trusted supply of premium dried flower, cannabis oils and vegan capsules.
Since its inception in 2014, CannTrust has led the Canadian market in producing pharmaceutically standardized product.
As a federally regulated licensed producer, CannTrust brings more than 40 years of pharmacy and healthcare experience to the medical cannabis industry. CannTrust currently operates a 60,000 sq. ft. state-of-the-art hydroponic facility in Vaughan, Ontario, as well as the recently completed 250,000 sq. ft. Phase One redevelopment of its 450,000 sq. ft. Niagara Greenhouse Facility. The Phase Two expansion is underway and is anticipated to be completed and in cultivation by Fall 2018. Phase Three construction, with an additional projected 600,000 sq. ft., has begun and is fully funded.