In a letter to its shareholders, Creative Edge Nutrition Inc (OTCMKTS:FITX) stated that it will re-file the license application under MMPR program for judicial review. The company issued the letter so that it can make shareholders aware with the latest development of license application process. The management informed that the rejection of the application doesn’t means that the company will no longer try for license. The denial is just a procedural issue and it intends to solve it in the coming period.
The unit
Creative Edge created CEN Biotech with a specific purpose in 2013. It is a partially owned subsidiary of the company. The company wanted to spread the use of effective Pharma-grade medical cannabis, and therefore it formulated the specialized unit. However, it failed to get the approval for license application under the MMPR program. It submitted an application to convert into a LP of dried marijuana for medicinal use.
The update
Creative Edge is leaving no stone unturned to boost the confidence in shareholders. It has been issuing a series of letter regarding the license application. It even released another letter in which the company highlighted the Canadian Newspaper, The Globe and Mail. It alleged the newspaper for spreading misrepresented news about the company. The newspaper has been in news for attacking the company in last one year.
The allegations
Creative Edge Nutrition Inc (OTCMKTS:FITX) mentioned in the letter that the newspaper reporter Grant Robertson, working with The Globe and Mail is accountable to run the campaign of untruths and image distortion against the company. The reporter made several false accusations without even making necessary investigations. On Friday’s trading session, the share price of Creative Edge jumped more than 7% to close the trading session at $0.00539. The gains came at a share volume of 33.44 million compared to average volume of 16.43 million.
