The Toronto Stock Exchange stated it would delist CannTrust’s shares if the Ontario cannabis producer is unable to file relevant economic statements by March 25, 2020.
A critique will be performed on the company’s eligibility for continued listing on the stock exchange, CannTrust disclosed this week.
The critique is a outcome of CannTrust becoming late in satisfying specific disclosure specifications, especially:
- Restated audited economic statements for the year ended Dec. 31, 2018.
- Restated interim economic statements for the 1st quarter of 2019.
- Interim economic statements for the second and third quarters of 2019.
- Management’s discussion and evaluation (MD&A) for the corresponding periods.
For its aspect, CannTrust anticipates filing these disclosures ahead of the March 25, 2020 deadline.
Nevertheless, if it fails to file the documents by the deadline, the company’s shares will be delisted by the finish of April 2020.
“The firm continues to make progress in functioning with its independent auditor in connection with preparing its economic statements and corresponding MD&A,” CannTrust stated in a press release.
The company’s securities will continue trading as TRST in the meantime.