CannTrust Announces Pricing of Public Offering of Common Shares

Published: May 6, 2019

CannTrust Announces Pricing of Public Offering of Common Shares

CannTrust Holdings Inc. announced the pricing of its previously-announced underwritten public offering of 36,363,636 common shares at a price to the public of US$5.50 per share. The Company is selling 30,909,091 common shares in the offering for total gross proceeds to the Company of approximately US$170 million before deducting underwriting discounts and commissions and estimated offering expenses, and certain shareholders (the “Selling Shareholders”) are selling 5,454,545 common shares in the offering. In connection with the offering, the Company and the Selling Shareholders have granted to the underwriters a 30-day option to purchase up to an additional 4,636,363 and 818,182 common shares, respectively, at the public offering price, less the underwriting discount.

The offering is expected to close on or about May 6, 2019, subject to the satisfaction of customary closing conditions, including the listing of the common shares on the Toronto Stock Exchange (the “TSX”) and New York Stock Exchange (the “NYSE”) and any required approvals of each exchange.

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