Dr. Len Walt Joins CannTrust executive team as Chief Medical Officer
Dr. Walt to lead Global Medical Division
VAUGHAN, ON, May 16, 2019 /PRNewswire/ - 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."
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.