CEN Biotech has dropped its lawsuit against the minister of health after saying Health Canada was "unlawful or unreasonable" in rejecting the company's medical marijuana license.
CEN Biotech filed a notice of discontinuance in federal court Friday where no reason was given. Calls to company lawyer Joe Byrne have not been returned.
Back on February 20, just six days after Health Canada issued a letter of intent to reject its medical marijuana license application, CEN Biotech filed an application for judicial review. In court documents, the company states that “all reasonable attempts” to receive a license have been made. CEN Biotech also claims Health Canada officials “committed” to issuing a license.
After Health Canada gave CEN Biotech 20 days to appeal its intent to reject, the government agency issued a final rejection on March 11.
On Friday, BlackburnNews.com learned the Ontario Securities Commission is actively investigating CEN Biotech. Officials won't say what sparked the investigation, but the commission's mandate is to protect investors in Ontario from things such as illegal insider trading, misleading disclosure and abusive trading practices.
In an interview with BlackburnNews.com on January 22, CEN Biotech President and CEO Bill Chaaban spoke out against allegations of misrepresentation, falsifying documents and manipulating the stock marketing. “They’re absolutely false. They’re outrageous. The company, myself, the officers, directors, the employees have violated no laws at all,” says Chaaban.