Creative Edge Nutrition Inc (OTCMKTS:FITX) closed last week in green despite the disappointment faced on the license aspect. As of now, it is clear that the company failed to obtain a license to cultivate pot from Health Canada. The disappointing news was released on Health Canada’s official website and appears to be utmost final.
The surge witnessed in Creative Edge stock price came after the company issue letters to shareholders highlighting the developments of judicial review with Health Canada. Also, the letter provided clarifications on several aspects. Creative Edge has been locked in a war with HQ to obtain a license for in order to construct their planned facility in Lakeshore, Ontario to cultivate pot and make the facility most advanced medical marijuana cultivation facility in world.
The development on license front isn’t all that surprising to participants who closely track activities of Creative Edge since the pot boom commenced. It was much clear that Canadian officials in any case wouldn’t permit it to run wild, with all the troubles it had attracted in the last year or so. The development on license front was not as shocking as the company’s reaction on the news. Creative Edge didn’t bother to take a protective step as soon as the news came out to control the damage. It announced review news and clarification on issue at a very later stage. The people were obviously not happy with the response shown by the company on the matter.
The connecting points
Creative Edge Nutrition Inc (OTCMKTS:FITX) went for a arrogant and shocking Press Release that appeared very offended. It stated that no internal inquiry was performed in refusing the License. The refusal comes due to mischaracterizations in the media that directed to hamper CEN Biotech’s reputation. The press release can be termed as an accusation towards Health Canada.