VAUGHAN, ON, Dec. 10, 2019 /CNW/ – CannTrust Holdings Inc. (“CannTrust” or the “Company”, TSX: TRST, NYSE: CTST) announced today that on December 9, 2019, the Company received written notification from the New York Stock Exchange (the “NYSE”) that CannTrust is no longer in compliance with the NYSE’s continued listing standard rules because the per share trading price of the Company’s common shares has fallen below the NYSE’s share price rule. The NYSE requires the average closing price of a listed company’s common shares to be at least US $1.00 per share over a consecutive 30 trading-day period. As of December 9, 2019, the 30 trading-day average closing price of the Company’s common shares was US $0.97.
In accordance with the NYSE’s rules, CannTrust has six months from the receipt of the notice to regain compliance. During this time period, the Company’s common shares will continue to be listed and trade on the NYSE as usual.
Under NYSE rules, CannTrust can regain compliance at any time during the six-month period if its common shares have a closing price of at least US $1.00 on the last trading day of any calendar month during the period and also have an average closing price of at least US $1.00 over the 30 trading-day period ending on the last trading day of that month or on the last day of the cure period.