CEN Biotech Inc. (FITX) Clarification on Ownership of the World’s Largest and Most Advanced Legal Cannabis Production Facil...
February 03 2014 - 7:00AM
Access Wire
MADISON HEIGHTS, MI / February 3, 2014 / ACCESSWIRE
/ Creative Edge Nutrition, Inc. (PINKSHEETS: FITX), in a
previous press release announced a collaborative deal in the
operation of its future medical marijuana facility in Lakeshore,
Ontario Canada. 8k filings with the SEC through our
collaborative partner have led to confusion in the ownership held
by Creative Edge Nutrition Inc.
This is to clear up any confusion. Creative Edge
Nutrition Inc. owns 75% (Seventy-Five Percent) of Cen Biotech,
Inc.
The structure of the CEN Biotech Inc. ownership was done with
the best interest of shareholders and the company in mind.
The percentages held by Wise Phoenix LLC, AJOA Holdings LLC and the
“key Players” are held in trust on behalf of Creative Edge
Nutrition. This structured ownership was for a multitude of
reasons; most importantly, to prevent a Hostile takeover and
protect what is the company’s most valuable asset. It also prevents
control from being in the hands of one individual or party.
Outside parties have attempted to acquire the land the company
has leased from the owner. He has received offers in excess of $25
million dollars for 10.3 acres in an attempt to obtain the
site. In the past months, numerous hedge funds, investments
banks and large corporations have attempted to acquire up to 80% of
the facility in exchange for capital. Bill Chabaan, President, is
adamant: “We have stayed vigilant in our focus and will institute
any and all preventative measures to protect our interests.”
Bill Chabaan reassures shareholders, “There have been many
offers of financing but it was important to bring on a
collaborative partner who understands our market and will
contribute to our operations. As always, my team and I, act
ONLY in the best interest of our
shareholders.”
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.
Cautionary Language Concerning Forward-Looking
Statements
This release contains "forward-looking statements" that include
information relating to future events and future financial and
operating performance. The words "may," "would," "will,"
"expect," "estimate," "can," "believe," "potential" and similar
expressions and variations thereof are intended to identify
forward-looking statements. Forward-looking statements should not
be read as a guarantee of future performance or results, and will
not necessarily be accurate indications of the times at, or by,
which that performance or those results will be achieved.
Forward-looking statements are based on information available
at the time they are made and/or management's good faith belief as
of that time with respect to future events, and are subject to
risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in or suggested
by the forward-looking statements. Important factors that could
cause these differences include, but are not limited to:
fluctuations in demand for Creative Edge Nutrition’s products, the
introduction of new products, the Company’s ability to maintain
customer and strategic business relationships, the impact of
competitive products and pricing, growth in targeted markets, the
adequacy of the Company’s liquidity and financial strength to
support its growth, and other information that may be detailed from
time-to-time in Creative Edge Nutrition’s filings with the United
States Securities and Exchange Commission. Examples of such
forward-looking statements in this release include statements
regarding future sales, costs and market acceptance of products as
well as regulatory actions at the State or Federal level. For
a more detailed description of the risk factors and uncertainties
affecting Creative Edge Nutrition Inc. please refer to the
Company's Securities and Exchange Commission filings, which are
available at http://www.sec.gov/. Creative Edge Nutrition
Inc. undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Contact: Jeff Thomas (313) 655-1669 Email:
Info@cenergynutrition.com
Source: Creative Edge Nutrition, Inc.
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