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Cannabis Watch: CannTrust shares tumble after Canadian regulator seizes cannabis

U.S.-listed shares of CannTrust Holdings Inc. tumbled 19% toward an almost two-year low on Monday, after the Canadian cannabis company said regulators had seized its cannabis after finding it was growing product in unlicensed rooms.

Health Canada found the company was growing cannabis in five unlicensed grow rooms at its Pelham, Ontario, facility from October to March, during which time it had applications pending.

“Health Canada has placed a hold on inventory which includes approximately 5,200 kg of dried cannabis that was harvested in the previously unlicensed rooms in Pelham, until it deems that the company is compliant with regulations,” CannTrust said in a statement.

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