CannTrust renamed Phoena as the cannabis company continues to rebuild following scandals

📆 03/05/2022 21:53:00
📰 globeandmail

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Renaming of CannTrust Equity Inc. is meant to usher in a new era for the company, which exited creditor protection in March, after receiving $17-million in financing from the Kenzoll subsidiary, Marshall Fields International B.V.

Beleaguered cannabis company CannTrust Equity Inc. has been renamed Phoena Holdings Inc.

Phoena will be 90 per cent owned by investors led by a subsidiary of KenzollB.V., a Netherlands -based private equity investment company, and 10 per cent owned by CannTrust Holdings Inc. The creditor protection came after the Vaughan, Ont.- based company behind the Liiv, SYNR.G, Xscape and Estora brands was found growing thousands of kilograms of cannabis in unlicensed rooms between 2018 and 2019.

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