Cannabis company CannTrust granted creditor protection

The order which stays proceedings for 10 days was in the best interests of the company, CannTrust said

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Canadian cannabis company CannTrust Holdings Inc said Tuesday that it had been granted creditor protection under CCAA.

The order which stays proceedings for 10 days was in the best interests of the company, CannTrust said in a statement.

Trading of CannTrust has been halted on the TSX and in New York and the company expects that as a result of filing for creditor protection its stock will be delisted from both exchanges.

The New York Stock Exchange said Tuesday it was suspending CannTrust trading immediately and beginning delisting proceedings.

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