Creative Edge Nutrition Inc (OTCMKTS:FITX) is determined to open the world’s largest medical marijuana facility, after being refused a license. The company has just recently filed for a judicial review in an attempt to move its plans forward. Initially, the company was refused a license on the grounds that there was an increasing concern about the conduct of CEN Biotech and its CEO, Bill Chaaban. The company had filed for a judicial review, only to abandon it later. It released a recent press release clarifying that the initial request was withdrawn due to a procedural issue, and a new application would be filed soon. The minister of health, in Canada, has also been notified of the proceedings by the company.
The company has not clarified what the procedural issue was, but it did hint that it was concerned with the court filings. It could have been possible that the company filed for review before the final announcement by health officials. The company was notified in February that the health department intended to deny the company its license, but the final decision was to come on March 11. The new request, however, is to push for the same claims as the initial request and would seek the same relief.
The company had applied to be permitted to grow 600,000 kilograms of marijuana for medical purposes, in Ontario. The request was rejected because the health officials spotted multiple different signatures, connected to the company’s CEO, on regulatory documents. The company has also been under fire for making its shares soar, last year, by providing false and exaggerated news. These moves had made the company’s worth more than $350 million last year. Currently, the Ontario Securities Commission is conducting an investigation into these matters. The company’s review in court has requested the judge to overturn the decision by the health department, stating that the regulatory authority was being unjust. The company is stuck in quite a bit of mess, and it would have to be seen what the securities commission finds.
Creative Edge Nutrition Inc (OTCMKTS:FITX) closed at $0.0078 in yesterday’s trading session.