The Canadian cannabis producer CannTrust Holdings will destroy $77 million Canadian dollars ($58.2 million) worth of product in an effort to regain regulatory compliance.
CannTrust said on Monday evening that it will destroy CA$12 million of plants and CA$65 million of inventory that was not authorized by its license. The destruction process will allow the company to get back into accordance with its license.
CannTrust had its licenses to produce and sell cannabis suspended on Sept. 17 after regulators discovered in late 2018 and early 2019 the company was illegally growing thousands of kilograms of product in unlicensed parts of its greenhouse in Pelham, Ontario. It was later discovered that CannTrust had also skirted regulations at its plant in Vaughan, Ontario.
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