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CannTrust Holdings Inc. has been having “plenty of conversations” with potential buyers but they remain at a “conversational level,” the interim chief executive of the embattled licensed cannabis producer told the Financial Post Tuesday.

“We are certainly investigating our options with financial advisors. But we are conscientious about our shareholders, and we are doing what you would expect a bona fide public company to do,” Robert Marcovitch said in the telephone interview.

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Canntrust, which had a market value of $401 million as of Tuesday’s close, said on Wednesday it had hired Greenhill & Co. Canada Ltd as financial adviser to assist in its review of alternatives.

CannTrust’s stock has lost almost 60 per cent of its value since the company acknowledged in early July that it had been growing in five unlicensed rooms at its largest facility in Pelham, Ont. between October 2018 and March 2019. The company is facing at least three class-action lawsuits related to the stock plunge, as well as a Health Canada investigation.