After two years of leading the company’s financial team, former Chief Financial Officer Ian Abramowitz of CannTrust Holdings (TSX: TRST) has departed that role and will now move into a new position as Senior VP of Global Investments and Partnerships.
CannTrust went with an outside hire to replace Abramowitz, appointing Greg Guyatt to become the new CFO starting next week.
Guyatt was recruited from his current position as Chief Financial Officer of GreenSpace Brands Inc. (TSXV: JTR) and has previously worked with Sears Canada.
CannTrust CEO Peter Aceto commented on the management shakeup and new hiring:
“We are very pleased to have Greg join CannTrust and deepen the executive leadership team as we look towards our listing on the NYSE.”
In particular, CannTrust is looking to Guyatt for leadership due to his experience in public offerings on dual-listed companies who trade shares on exchanges in multiple countries.
Aceto also had this to say about Abramowitz shifting focus over to the Global Investments division:
CannTrust officially filed to list on the New York Stock Exchange last month, following in the footsteps of other Canadian cannabis companies trading on the US-based exchange such as Aphria and Aurora.
After submitting that application, CannTrust additionally moved forward with a new phase of construction expansion in Pelham, Ontario. The company received the necessary permits from the local Pelham government for a 390,000 sq. ft. cultivation facility at the end of January.
This phase of the expansion project is projected to be completed in Q3 2020, with a first harvest from the newly completed rooms to arrive in the second half of that year.
In other recent news, CannTrust managed to gain recognition with several wins at the Canadian Cannabis Awards in December, taking home titles in the top high CBD oil, top sativa flower, top hybrid flower, and even licensed producer of the year categories.