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Globe says SEC hears CEN issue taken up by Opposition

2015-01-15 08:10 ET - In the News

The Globe and Mail reports in its Thursday edition the NDP and Liberals are calling on Health Canada to halt the licence bid of the company seeking to become the country's largest medical marijuana producer, saying the feds have failed to perform sufficient due diligence amid allegations of misrepresentation and falsified documents. The Globe's Grant Robertson writes CEN Biotech has applied to operate a massive growing operation in Lakeshore, Ont., but has issued several press releases and made public statements that are highly questionable. Trading on the loosely regulated U.S. OTC market, CEN claimed this summer there was a partnership with Health Canada, and that his company had effectively been granted a growing licence, when it had not. The company now finds itself amid further allegations of falsifying documents, with at least four different signatures attributed to chief executive officer Bill Chaaban showing up on various company documents, including those filed with the U.S. Securities and Exchange Commission. Although several of Mr. Chaaban's problematic claims have related directly to Health Canada, the government said this week the public should contact police or the SEC with any concerns.

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