CannTrust hires adviser to explore sale amid unlicensed pot growing probe

Companies in this story: (TSX:TRST)The Canadian Press VAUGHAN, Ont. — CannTrust Holdings Inc. has hired a financial adviser to help the cannabis company explore a potential sale and other strategic alternatives as regulators continue to investigate allegations of illicit pot growing at its Ontario greenhouse.CannTrust says these alternatives could include, among other things, a sale of the licensed pot producer or a portion of it, a merger, a strategic investment, or changes to its operations or strategy.The company says Greenhill & Co. Canada will serve as its financial adviser and notes that it has not set a timeframe for completion of its strategic review.The announcement comes about a week after the Vaughan, Ont.-based company terminated its chief executive Peter Aceto with cause and demanded the resignation of board chair Eric Paul after a board committee’s investigation into unlicensed growing at its Pelham, Ont.-facility unearthed new information.Health Canada discovered during an unannounced inspection in late June that the pot firm was growing cannabis in several rooms before receiving the appropriate government licences to do so and seized several thousand kilograms of cannabis from those rooms.CannTrust disclosed the regulator’s findings in early July and has since voluntarily halted all sales and shipments as the federal health regulator continues its probe, the outcomes of which could include suspension or termination of its cannabis licences and fines up to $1 million. read more

Detour Gold Corp faces new charges in workers cyanide poisoning death

by The Canadian Press Posted May 31, 2016 9:03 am MDT Last Updated May 31, 2016 at 11:32 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Detour Gold Corp. faces new charges in worker’s cyanide poisoning death COCHRANE, Ont. – A Toronto-based mining company is facing new charges in connection with the death of a worker last year.Denis Millette, 52, died of acute cyanide intoxication while repairing equipment at a Detour Gold Corp. (TSX:DGC) mine in Cochrane, Ont., on June 3, 2015.The provincial Ministry of Labour has laid 15 charges against the company relating to the incident, in addition to a criminal charge of negligence causing death that was laid last month.The ministry says the new charges range from failing to keep equipment in good condition to failing to make sure there was an antidote for cyanide poisoning.Three individuals who were Millette’s supervisors have also been charged with failing to make sure Millette was wearing protective gear, and failing to adequately supervise him.Detour Gold say that they’re waiting to receive the information that led to the charges before commenting further. read more