Dr. Walt to lead Global Medical
Division
VAUGHAN, ON, May 16, 2019 /CNW/ - CannTrust Holdings Inc.
("CannTrust" or the "Company", TSX: TRST, NYSE: CTST) strengthened
its senior leadership team with the appointment of Dr. Len Walt, M.D., MBA, to the newly created
position of Chief Medical Officer ("CMO").
Dr. Walt will lead the global medical function dedicated to
strengthening CannTrust's clinical research strategy, medical
education programs, product innovation and support the expansion of
CannTrust's global medical businesses and partnerships.
"Adding Dr. Walt to our senior leadership team supports our
commitment to developing a world-class global medical function that
will drive our international growth and partnership strategy," said
Peter Aceto, Chief Executive
Officer, CannTrust. "As we continue to grow, Dr. Walt's leadership
and experience will be pivotal to ensure we continue our commitment
to industry-leading research and product development."
Dr. Walt comes to CannTrust with extensive senior leadership
experience in the pharmaceutical and biotechnology industries in
Canada, USA and abroad. Most recently Dr. Walt
held the position of Vice President and Head of Medical Affairs at
Sobi Inc., where he led their North American medical and scientific
operations. Previously, Dr. Walt held the position of Medical
Director at Biogen Canada where he built best-in-class medical
teams and developed strong relationships with key clinical
investigators in Canada.
"What inspired me to take on this role is a strong belief in the
significant clinical benefits cannabis can offer patients suffering
from serious conditions," said Dr. Len
Walt, Chief Medical Officer, CannTrust. "My goal is to
develop a world-class team that will conduct industry leading
scientific research to further our understanding of cannabis and
its therapeutic potential."
About CannTrust
CannTrust is a federally regulated licensed producer of medical
and recreational cannabis in Canada. Founded by pharmacists, CannTrust
brings more than 40 years of pharmaceutical and healthcare
experience to the medical cannabis industry and serves more than
70,000 medical patients with its dried, extract and capsule
products. The Company operates its Niagara Perpetual Harvest
Facility in Pelham, Ontario, and
prepares and packages its product portfolio at its manufacturing
centre of excellence in Vaughan,
Ontario. The Company has also purchased 81 acres of land in
British Columbia and expects to
secure over 200 acres of land in total for low-cost outdoor
cultivation which it will use for its extraction-based
products.
Forward Looking Statements
This press release contains "forward-looking information" within
the meaning of Canadian Securities laws and "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and other applicable
United States safe harbor laws,
and such statements are based upon CannTrust's current internal
expectations, estimates, projections, assumptions and beliefs and
views of future events. Forward-looking information and
forward-looking statements can be identified by the use of
forward-looking terminology such as "believes", "expect", "likely",
"may", "will", "should", "intend", "anticipate", "potential",
"proposed", "estimate" and other similar words, including negative
and grammatical variations thereof, or statements that certain
events or conditions "may", "would" or "will" happen, or by
discussions of strategy.
The forward-looking information and statements in this news
release include statements relating to the Company's plans to
consummate the offering and intended use of proceeds therefrom.
There can be no assurance that the Company will be able to complete
the offering on the anticipated terms, or at all. Forward-looking
information and statements necessarily involve known and unknown
risks, including, without limitation statements regarding the
proposed offering and the terms of the offering, the use of
proceeds from the offering, risks associated with general economic
conditions; adverse industry events; loss of markets; future
legislative and regulatory developments in Canada, the United
States and elsewhere; the cannabis industry in Canada generally; and, the ability of
CannTrust to implement its business strategies.
Any forward-looking information and statements speak only as of
the date on which they are made, and, except as required by law,
CannTrust does not undertake any obligation to update or revise any
forward-looking information or statements, whether as a result of
new information, future events or otherwise. New factors emerge
from time to time, and it is not possible for CannTrust to predict
all such factors. When considering these forward-looking
information and statements, readers should keep in mind the risk
factors and other cautionary statements in CannTrust's Annual
Information Form dated March 28, 2019
(the "AIF") and filed with the applicable Canadian securities
regulatory authorities on SEDAR at www.sedar.com and filed as an
exhibit CannTrust's Form 40-F annual report under the United States
Securities Exchange Act of 1934, as amended, with the United States
Securities and Exchange Commission on EDGAR at www.sec.gov. The
risk factors and other factors noted in the AIF could cause actual
events or results to differ materially from those described in any
forward-looking information or statements.
The TSX and NYSE do not accept responsibility for the adequacy
or accuracy of this release.
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SOURCE CannTrust Holdings Inc.