CannTrust Equity Inc. announced its new corporate name, Phoena Holdings Inc.

"This is a truly exciting and trans-formative time for our company," stated Greg Guyatt, CEO, "Phoena reflects who we are today - stronger, more experienced and more focused â€" 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".

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. (OTCPK:CNTTQ) 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.