VAUGHAN, ON, Oct. 28, 2019 /CNW/ – PRESS RELEASE – CannTrust Holdings Inc. has announced that, following each the current submission of its detailed remediation strategy to Overall health Canada and the completion of its Unique Committee’s independent investigation, the firm has begun the orderly procedure of renewing its Board of Directors. As component of this procedure, John T. Kaden has resigned from his position as Director.
Kaden is the co-Founder, Managing Companion, and Chief Investment Officer of Navy Capital Green Management LLC., a worldwide investment firm specializing in the legal cannabis market. He has resigned in order to concentrate totally on the demands of this function. Kaden was appointed to CannTrust’s Board of Directors in October 2018. In July 2019, Kaden was appointed to the Unique Committee of Directors that was developed to investigate the causes of the company’s non-compliance with Overall health Canada regulations.
« John created substantial contributions to CannTrust in the course of his tenure, » stated Robert Marcovitch, CannTrust’s Chairman and interim Chief Executive Officer. « We deeply appreciate his dedication, in distinct his huge commitment as a member of the Unique Committee more than the previous 3 months. With the completion of the Unique Committee’s investigation and the submission of our detailed remediation strategy to Overall health Canada, we are now focused on creating the foundation for CannTrust’s future, such as a renewal of our Board of Directors. »
CannTrust has initiated a search for each Kaden’s replacement and added new Directors. The firm has been engaging with quite a few promising candidates who possess experience in operations, compliance, governance and regulated industries. The firm has also commenced a search for added executive group members, such as a permanent Chief Executive Officer.
« With its remediation strategy now underway, I think CannTrust is effectively positioned to fulfill its commitments to each bring the firm into complete regulatory compliance and seek the complete reinstatement of its licenses, » stated Kaden. « I was honored to function with the Unique Committee to assist spot CannTrust in this position. »