Canadian cannabis company CannTrust becomes Phoena

, an approximate Canadian equivalent of Chapter 11 bankruptcy, in March 2020, after it ran into compliance issues with Health Canada over its cannabis production facilities.”producer after its stock price had fallen below the necessary $1 per share cost to continue trading.

The company reports that no changes to current operations are anticipated. Phoena is also continuing to review obtaining a stock exchange listing for the company’s common shares, the statement adds. The federally regulated, licensed cannabis producer has locations in the Ontario communities of Vaughan and Fenwick. Its greenhouse “produces Grade A cannabis flower, which is sold in a variety of dried flower and extract formats,” the company statement adds.Share this Story:

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CannTrust renamed Phoena as the cannabis company continues to rebuild following scandalsRenaming 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.
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