OSC probing marijuana firm CEN Biotech
CEN Biotech, a company that soared to be worth hundreds of millions of dollars last year on claims that it was being licensed to build the world’s largest medical marijuana facility in Canada, is under investigation by the Ontario Securities Commission.
The regulator said Wednesday it is looking into the company and its parent firm, but did not provide further details, such as how long the investigation has been going on or if regulators in the United States are involved.
“The OSC has an active investigation into this matter,” Carolyn Shaw-Rimmington, spokeswoman for the OSC, said in an e-mail to The Globe and Mail.
CEN Biotech is the Canadian subsidiary of Creative Edge Nutrition, a Michigan-based nutritional supplements company that is traded on the loosely regulated over-the-counter market in the United States. CEN Biotech was seeking a licence to grow 600,000 kilograms of medical marijuana in the town of Lakeshore,...
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