CEN Biotech is in the middle of an active investigation by the Ontario Securities Commission.
Officials won't say when the investigation started or what prompted it. "We are not in a position to comment further on the specifics of our investigation," says public affairs manager Carolyn Shaw-Rimmington.
The OSC investigates accusations that a person or firm breached Ontario's securities law, which includes illegal insider trading, misleading disclosure and abusive trading practices. The commission works to protect investors and ensure fair market trading in the province. The OSC can initiative enforcement proceedings, which may result in penalties and banning people from leadership roles in public companies.
CEN Biotech is owned by Creative Edge Nutrition, a U.S.-based company. The U.S. Securities and Exchange Commission won't say if it is currently investigating CEN Biotech.
On March 11, Health Canada issued a final rejection notice to CEN Biotech for a medical marijuana license for its facility in Lakeshore.