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U.s. Firm Breaks Ground On Medical Marijuana Plant In Ontario


bobandtorey
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MADISON HEIGHTS, Mich.—An American nutritional supplement company has broken ground on a massive medical marijuana facility in southwestern Ontario.


According to Creative Edge Nutrition Inc. (CEN), construction is underway on a 56,000 sq. ft. plant in Lakeshore, Ont., near Windsor, on a plant to be operated by its subsidiary, CEN Biotech, Inc.


“As our vision becomes a reality, we believe we are pioneers in the medicinal marijuana industry,” CEO Bill Chaaban said in a statement released by the company.


“Since our land is zoned agricultural for the production and sale of medicinal marijuana, zoning is not required.”


According to the company, the building will be attached to its existing 26,400 sq. ft. facility in Lakeshore, giving it a total footprint of 84,400 sq. ft. once complete.


CEN said it has received municipal approval for the operation.


No completion date was provided.


According to the Windsor Star, CEN is the third firm to apply to grow medicinal marijuana in Essex County


 


http://www.canadianmanufacturing.com/general/u-s-firm-breaks-ground-on-medical-marijuana-plant-in-ontario-124736


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  • 3 months later...

not sure if this got posted, 

http://finance.yahoo.com/news/cen-biotech-inc-michigan-fitx-130800530.html

CEN Biotech, Inc. (Michigan) (FITX) Announces Partnership Agreement for Dispensing Pharmacy in Michigan

 

MADISON HEIGHTS, MI / February 26, 2014 / ACCESSWIRE / Creative Edge Nutrition, Inc. (FITX), is proud to announce a partnership agreement with RXNB Inc. for the first right of purchase of a pharmacy license in the State of Michigan.

Under the agreement, CEN Biotech Inc. (A Michigan Corporation) is positioned to establish a gateway for distribution of naturally occurring pharmaceuticals in acknowledgement of Michigan Senate Bill 0660.

Senate Bill 0660 recognizes the sale of pharmaceutical-grade cannabis through licensed facilities; allowing under certain circumstances, the regulations of possession and use of pharmaceutical-grade cannabis by certain individuals. Effective December 30th 2013, the bill has published as a public law, passing both the Senate and the House successfully.

“Senate Bill 0660 is in line with our philosophy that medicinal marijuana is a controlled substance that must be recognized for its medicinal properties, which requires a licensed individual & entity to dispense to the patients accordingly, for various ailments” Bill Chaaban, CEO Creative Edge Nutrition states.

Mr. Chaaban continues discussing alternate avenues of dispensing, “We believe in responsible medicine and are not opposed to alternative and or new avenues of access to pharmaceutical-grade cannabis, but we still must recognize the implications of the failure to provide security, traceability and accountability”.

Edited by t-pain
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i'd call them war profiteers.

 

if there wasnt a war, it would be grown freely.

 

 

Yeah. I agree with that.

 

Who doesn't think that somewhere in all this finagling that a few politicians are getting their palms greased? If they don't get money for their re-election campaign then they have some deal where they get to go to work for one of these companies as a "consultant".

 

I hope the public will be able to see through all this and allow some competition to flourish in the form of home grows. It is, after all, the American Way dontcha know.

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NEW YORK (MainStreet) — In Canada, regulation changes on April 1 will allow licensed producers to grow medical marijuana on a commercial scale. That's a radical shift, moving from a sole

 

provider system to one with multiple providers. As a result, patients will no longer be able to grow their own medicine, but the Health Canada-run program will have eight to ten approved

 

providers to cultivate the goods.

 

"The story is big, because the patient population is likely to explode," said Alan Brochstein, founder of marijuana stock subscription service 420 Investor. "There have been impediments for

 

patients to becoming eligible, primarily a ten-week wait-list under the old regime."

 


The authorized Canadian licensed producers under the "Marihuana for Medical Purposes Regulations" are as follows:Health Canada conservatively estimates the

 

Canadian market could be worth $1.3 billion by the end of 2014. Industry analysts see that number doubling by 2016 to $2.6 billion. Added with the growth of the U.S. market, forecasts suggest

 

the North American cannabis marketshould top $5 billion-plus by 2016.

  • Bedrocan Canada Inc.
  •  
  • Canna Farms Ltd.
  •  
  • CanniMed Ltd.
  •  
  • Mettrum Ltd.
  •  
  • MedReleaf Corp.
  •  
  • The Peace Naturals Project Inc.
  •  
  • ThunderBird Biomedical Inc.
  •  
  • Tweed Inc.
  •  
  • Whistler Medical Marijuana Corp.

 

Reaping the Benefits of Fertile Ground

 

The investor can find a wealth of opportunity in this news.

 

The public company play is Creative Edge Nutrition (FITX), which controls subsidiary CEN Biotech, equipped with a super grow cannabis facility in Lakeshore Ontario (still seeking approval from

Health Canada to grow and sell cannabis). CEN Biotech will have a funding and supplier agreement with GrowLife (PHOT), a company that supplies specialized equipment to cannabis growers

 

and marijuana dispensaries. In January, GrowLife through its joint venture partner OGI invested in CEN Biotech's ten-acre cultivation plant, expected to produce up to 1.3 million pounds of

 

medical marijuana annually, with $40 million in restricted stock.

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"My intention is to grow enough cannabis to supply Canada and build an export market," said Bill


 


Chaaban, CEO of Creative Edge Nutrition in Madison Heights, Mich.


 


 


Marijuana from this Canadian facility would be sold in Israel, Holland, Colombia and Uruguay.


 


"We are looking for five times the return on our investment from this partnership," GrowLife CEO Sterling Scott told MainStreet.


 


Another play to look for: CEN Biotech will use technology company Endexx (EDXC) for its seed-to-sale tracking software. Licensed producer Tweed is looking to go public through reverse


 


 


http://www.mainstreet.com/article/money/investing/medical-marijuana-canada-set-boom?page=1


 


merger. Also keep an eye on seed-to-shelf cannabis cultivator Tilray, a company in Nanaimo, British Columbia that is controlled by Privateer Holdings, a highly regarded cannabis-focused


 


private equity fund.



 


 

Growing Like Weed


 


Medical marijuana is currently legal in 20 U.S. states, with Colorado and Washington state recently decriminalizing recreational use. This trend is only


 


accelerating.


Recent analysis on the American marijuana marketplace by ArcView Angel Investors forecasted that the five-year national market could grow to $10.2 billion amid


 


rising demand and potentially new state markets.


 


Financiers in Canada are looking to capitalize on this expanded demand in the U.S. and growing ability in Canada by using their business acumen to help develop


 


 


cannabis companies that already have technical expertise.


 


Harry Barr, financier and president and CEO of mining company Next Gen Metals (CSE:N), is looking to get in on the marijuana game up north.


 


"Recent legal changes have convinced us that this emerging, multi-billion dollar market would benefit from our expertise," Barr said. "A growing proportion of the medical community believe that


 


medical marijuana and more specifically cannabinoids have the potential to help patients who are suffering from a variety of ailments and illnesses."


Edited by bobandtorey
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  • 9 months later...

New news on CEN Biotech; apparently they are actively lobbying the Michigan Legislature now. Our guests on Planet Green Trees last week, Jim Powers and Robin Schneider said that this company attempted to amend HB 5104 to keep patients and caregivers from making extracts. From the details in this article, it seems unlikely that they are operating legitimately at this point:

 

http://blogs.windsorstar.com/news/questions-raised-over-lakeshore-pot-plan

Weres J. Copper now

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