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Canada’s Hapless CannTrust rebrands with new name Phoena

Business of Cannabis has the update for us

Vaughan, Ontario-based CannTrust, known for getting caught growing cannabis in unlicensed rooms, will now be known as Phoena Holdings, per a press release.

“The name Phoena is derived from the word “phenotype” which describes the traits taken from a plant’s genetic code that we use to merge nature, purpose, and science to produce the best cannabis products on the market,” reads the release. “We are dedicated to ensuring that every product, every initiative and every activity lives up to the name.”

“Working with our new investors, Kenzoll based in Amsterdam, we are looking forward to continuing to build our business in Canada and beyond,” wrote CEO Greg Guyatt on LinkedIn.

Here’s the full blurb

VAUGHAN, ONMay 3, 2022 /CNW/ – CannTrust Equity Inc. (the “Company” or “Phoena”) (unlisted), today marks the start of a new era for the Company by announcing its new corporate name, Phoena Holdings Inc. (pronounced Fee-nah).

Phoena Holdings Inc. Logo (CNW Group/Phoena Holdings Inc.)
Phoena Holdings Inc. Logo (CNW Group/Phoena Holdings Inc.)

“This is a truly exciting and transformative time for our Company,” said Greg Guyatt, Chief Executive Officer, “Phoena reflects who we are today – stronger, more experienced and more focused – and forms the foundation for our future success as we enter the next era of our evolution. While our name is new, the core values we have developed over the last two years are the same, as are the great products and experiences our consumers and patients have come to expect.”

The name Phoena is derived from the word “phenotype” which describes the traits taken from a plant’s genetic code that we use to merge nature, purpose, and science to produce the best cannabis products on the market. We are dedicated to ensuring that every product, every initiative and every activity lives up to the name.

Phoena is committed to delivering experiences that enhance life and help patients and consumers be their best, with a continued emphasis on quality, consistency and support. Phoena will continue to build on the success of the Liiv, SYNR.G, Xscape and estora brands in both the recreational and medical channels, with no changes expected to current operations.

Phoena Holdings Inc. is 90% owned by a group of investors led by Marshall Fields International B.V., a subsidiary of Kenzoll B.V. with the remaining 10% owned by CannTrust Holdings Inc. (“CannTrust”). Phoena is continuing to review alternatives for becoming a reporting issuer and obtaining a stock exchange listing for Phoena’s common shares, and will provide further updates on this initiative as they become available.

About Phoena

Phoena is an award-winning, federally regulated licensed cannabis producer, with locations in Vaughan and Fenwick, Ontario. We operate a portfolio of well-known brands, including estora, Liiv, SYNR.G and Xscape.

We are committed to providing exceptional consumer experience, quality products and consistency. Our greenhouse produces Grade A cannabis flower, which is sold in a variety of dried flower and extract formats.

Phoena creates cannabis products that meet the diverse needs of patients and consumers, promoting positivity, supporting creativity, and inspiring confidence.

Phoena, empowering you every day.

Learn more at Phoena.com

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