BEVERLY HILLS, CA and LAKESHORE, ON–(Marketwired – Apr 8, 2015) – Creative Edge Nutrition, Inc. (OTC PINK: FITX), a nutritional supplement company focusing on active lifestyles, announces a letter to its shareholders.
Dear Shareholders,
As many of our shareholders know, CEN Biotech, Inc. has endured tiresome attacks over the past year, and most recently from a Canadian newspaper, the Globe and Mail. Specifically, a “reporter” for the newspaper by the name of Grant Robertson (hereafter the “Reporter”) has continued a campaign of misrepresentations and untruths to attack the company in what can only be characterized as an attempt to destroy the Company that management and the shareholders have strived to create. The “Reporter” has made several false accusations against the Company and its President Bill Chaaban, ranging from insider trading to operating a “pump and dump” scheme.
These reckless allegations are wholly without merit and are designed to destroy the company, and with it the value of shareholders’ holdings. For instance, the “Reporter” accused CEN Biotech management and affiliates of selling large blocks of shares upon news that Health Canada had arbitrarily rejected CEN Biotech’s Application for an MMPR license, before the public was made aware of such rejection news released March 11, 2015.
There are many websites on the internet that the “Reporter” should have researched to determine whether management actually sold any shares. Had the “Reporter” performed the type of due diligence required, and the type of due diligence that any other reputable reporter would have performed, he would have found that no affiliate of the Company had filed any 144 paperwork, and therefore could not have sold any shares. Instead, the “Reporter” recklessly made these accusations without any due diligence, because he was not concerned with whether his accusations were true; he was only concerned with whether such accusations damaged the company.
The truth of the matter is that the “Reporter” refused to exercise any due diligence before levying the damaging false accusations, primarily because he has no interest in the veracity of his allegations. Again, his sole purpose is to damage the Company. In fact, contrary to the “Reporter’s” reckless allegations, a shareholder contacted the Company to notify it that, of the 7 million plus shares traded during the “surge,” 3,688,050 of those shares traded were his, not an affiliate’s.
For Health Canada’s part in the campaign of misrepresentations being perpetrated against the company, it has seen fit to arbitrarily deny CEN Biotech its license for reasons unknown. Health Canada has seen fit to hold CEN Biotech to requirements and standards that no other company has been subjected to. For instance, rather than conduct its own investigation into CEN Biotech, it required the Company to respond to accusations levied by a newspaper, the Globe and Mail, which at best is odd, and at worst is completely irresponsible, especially when the newspaper is one that has written countless articles bashing the Company at every turn, by a reporter who exercises no due diligence.
In fact, Health Canada released its February 13, 2015 “Letter of Intent to Deny the License” to Grant Robertson 5 days before that letter was sent to CEN Biotech; approximately twelve hours later, the “Reporter” published yet another article identifying the contents of that letter. Apparently, the strict privacy requirements imposed by Health Canada to protect applicants were not intended to protect CEN Biotech, Inc. Another practice that Health Canada saved solely for CEN Biotech was to post CEN Biotech’s application rejection directly on its website; no other applicant had its rejection notice posted on the Health Canada website. The question becomes, “Why did Health Canada post CEN Biotech’s rejection on its website when it has never done so for any other applicant?”
In response to the tactics of those hell-bent on perpetrating fraud to destroy the Company, and in addition to filing its Application for Judicial Review, CEN Biotech believes it has no choice but to release internal documents and other documentary evidence in order to prove that its intentions have been nothing but honorable, and to expose those seeking to destroy the Company. The Company will be releasing: communications with Health Canada whereby HC encouraged CEN Biotech to build its facility faster so that it could begin producing much needed medicinal marijuana; a Purolator Courier package proving that the Intent to Deny the license was not sent to the Company until 5 days after it was given to the “Reporter”; documents from the Town of Lakeshore that clearly indicate that CEN Biotech had proper zoning and had notified the town of all of its intentions and purposes, and other documents.
Although such a practice is unusual, these documents are being released on behalf of the shareholders who are the true victims of the Globe’s misrepresentations and Health Canada’s arbitrary conduct. In fact, over the past week or so, hundreds of shareholders have written letters to securities regulators, the Minister of Health, and other officials indicating their support of the Company and Bill Chaaban, and demanding that the charlatans be prosecuted.
Consequently, over the next several weeks CEN Biotech will be releasing documents and allowing the public to determine for themselves what has transpired and whether the Company has been treated fairly. CEN Biotech simply asks the public to base its determination solely on the documentary evidence and not on the bashing articles that are certain to follow this release to discredit it. Thank you for your attention to this important matter.
Information Leaked
http://www.otcmarkets.com/financialReportViewer?symbol=FITX&id=135521
Shareholder letters 1 of 4 files
http://www.otcmarkets.com/financialReportViewer?symbol=FITX&id=135522
Shareholder letters 2 of 4 files
http://www.otcmarkets.com/financialReportViewer?symbol=FITX&id=135523
Shareholder letters 3 of 4 files
http://www.otcmarkets.com/financialReportViewer?symbol=FITX&id=135524
Shareholder letters 4 of 4 files
http://www.otcmarkets.com/financialReportViewer?symbol=FITX&id=135526
About CEN Biotech
CEN Biotech, Inc. was established in 2013 as a partially owned subsidiary of Creative Edge Nutrition (OTC PINK: FITX) for the sole purpose of supplying the Canadian public with pharmaceutical-grade medical cannabis under the newly established Marihuana for Medical Purposes Regulations (MMPR). CEN Biotech Inc. has submitted a comprehensive application to become a licensed producer (LP) of dried marihuana for medicinal purposes and has received a ready-to-build approval from Health Canada. http://www.cenbiotechinc.com info@cenbiotechinc.com
About Creative Edge Nutrition, Inc.
Creative Edge Nutrition, Inc. is a holding company and a Nutritional Supplement Company focused on developing innovative, high quality supplements and energy drinks. The company offers a broad spectrum of capsules, tablets, and powders, as well as science based products in the principal categories of weight management, nutrition challenges, energy and fitness. The Company manufactures under strict GMP guidelines at GMP Certified and/or FDA registered facilities. www.CenergyNutrition.com
Company Disclaimer
As a “penny stock” Company, within the meaning of federal and state securities law, Creative Edge Nutrition, Inc. may not avail itself of the Safe Harbor provisions as identified in the Private Securities Litigation Reform Act of 1995. However, Creative Edge Nutrition, Inc. provides the following disclaimer and warning to protect our shareholders, prospective investors and the public at large by alerting them to the risks and uncertainties involved with any investment, and the need to perform their own due diligence and assessment.
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers.
Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company’s business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company’s periodic filings with the Security and Exchange Commission.
Copyright © 2015 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
OTC Markets Group – News, Filings & Corporate Actions