IMO, Cen Biotech is just being played as a pawn in
Post# of 56323
Posted On: 01/16/2015 11:06:53 AM
Re: little lou #46964
IMO, Cen Biotech is just being played as a pawn in the game between the Conservatives (who support the MMPR) and the Liberals (who are fighting against it in favor allowing people to grow their own under the MMAR) leading up to the February court decision.
http://www.stockhouse.com/news/newswire/2015/...will-bring
Grant Robertson has produced a series of articles that have built to a conclusion that bolsters the case of Libby Davies and the Liberal Party to show the courts that Health Canada and the Canadian regulators are "ill-equipped" to handle their responsibilities under the MMPR to influence the court decison in a few weeks. The first set of articles was to lay the groundwork of setting up Cen Biotech. It could have been any applicant, but Cen Biotech is the one that is very close to approval and with an endless amount of accusations, even though those accusation only come from MESSAGE BOARDS and not any authority or regulator. “How does a huge application like this, that’s got a whole number of suspicions and questions around it, get to the final stage of approval ?” Ms. Davies said.
Read this version of Grant Robertson's latest article with Cen Biotech removed and you will see that the focus is not really on Cen Biotech, but rather the fight between the Liberals and the Conservatives over medical marijuana. Cen Biotech is just a pawn in the game that is being sacrificed for a bigger win...
Health Minister assailed for shirking responsibility for pot licences
Health Minister Rona Ambrose is leaving the oversight of Canada’s new medical marijuana sector in the hands of U.S. regulators while the federal government sits on the sidelines, opposition critics say.
As mounting problems swirl around a company, which has applied to become Canada’s largest medical marijuana producer, Ms. Ambrose has refused to answer questions regarding the controversy. Concerns about alleged misrepresentation, stock manipulation and falsified documents should be addressed to the U.S. Securities and Exchange Commission, a spokesman for the minister said this week.
However, deputy Liberal leader Ralph Goodale said that policy is tantamount to exporting the oversight of a Canadian industry to a regulator outside the country.
“The problems with this one company certainly raise questions about the integrity of the government’s process,” Mr. Goodale said. “They want to do business in Canada, but appear to be taking advantage of a loophole that avoids Canadian scrutiny. That should set off another set of alarm bells with Health Canada.”
The company is the Canadian subsidiary of a U.S.-based firm, which is publicly traded on the loosely regulated U.S. over-the-counter (OTC) market, and is therefore outside the jurisdiction of the Ontario Securities Commission. Last year, Ontario opted out of a new rule that gave provinces the power to sanction OTC companies doing business in Canada, saying such changes weren’t needed. Securities lawyers refer to this as the “Ontario loophole.”
Health Canada said it is not equipped to deal with allegations of a financial nature. But several of the allegations against the company involve general misrepresentation that should call the company’s application for a medical marijuana licence into question, Mr. Goodale said.
Opposition health critic Libby Davies said the matter is too important to be left to regulators outside Canada, who may not see the issue of Canada’s new medical marijuana sector as a priority. Ms. Ambrose’s treatment of the file is an abdication of responsibility by Health Canada, Ms. Davies said.
“This is a big business, we’re talking about hundreds of millions of dollars over all in medical marijuana,” Ms. Davies said. “Their approach of, ‘It’s not really our problem, let’s leave it to other people to follow up’ – this is a completely failed response. It’s surprising; given this is the Conservative government that holds itself up to a high standard in terms of market practices. ”
Multiple requests for comment from Ms. Ambrose have been declined by her office.
http://www.stockhouse.com/news/newswire/2015/...will-bring
Grant Robertson has produced a series of articles that have built to a conclusion that bolsters the case of Libby Davies and the Liberal Party to show the courts that Health Canada and the Canadian regulators are "ill-equipped" to handle their responsibilities under the MMPR to influence the court decison in a few weeks. The first set of articles was to lay the groundwork of setting up Cen Biotech. It could have been any applicant, but Cen Biotech is the one that is very close to approval and with an endless amount of accusations, even though those accusation only come from MESSAGE BOARDS and not any authority or regulator. “How does a huge application like this, that’s got a whole number of suspicions and questions around it, get to the final stage of approval ?” Ms. Davies said.
Read this version of Grant Robertson's latest article with Cen Biotech removed and you will see that the focus is not really on Cen Biotech, but rather the fight between the Liberals and the Conservatives over medical marijuana. Cen Biotech is just a pawn in the game that is being sacrificed for a bigger win...
Health Minister assailed for shirking responsibility for pot licences
Health Minister Rona Ambrose is leaving the oversight of Canada’s new medical marijuana sector in the hands of U.S. regulators while the federal government sits on the sidelines, opposition critics say.
As mounting problems swirl around a company, which has applied to become Canada’s largest medical marijuana producer, Ms. Ambrose has refused to answer questions regarding the controversy. Concerns about alleged misrepresentation, stock manipulation and falsified documents should be addressed to the U.S. Securities and Exchange Commission, a spokesman for the minister said this week.
However, deputy Liberal leader Ralph Goodale said that policy is tantamount to exporting the oversight of a Canadian industry to a regulator outside the country.
“The problems with this one company certainly raise questions about the integrity of the government’s process,” Mr. Goodale said. “They want to do business in Canada, but appear to be taking advantage of a loophole that avoids Canadian scrutiny. That should set off another set of alarm bells with Health Canada.”
The company is the Canadian subsidiary of a U.S.-based firm, which is publicly traded on the loosely regulated U.S. over-the-counter (OTC) market, and is therefore outside the jurisdiction of the Ontario Securities Commission. Last year, Ontario opted out of a new rule that gave provinces the power to sanction OTC companies doing business in Canada, saying such changes weren’t needed. Securities lawyers refer to this as the “Ontario loophole.”
Health Canada said it is not equipped to deal with allegations of a financial nature. But several of the allegations against the company involve general misrepresentation that should call the company’s application for a medical marijuana licence into question, Mr. Goodale said.
Opposition health critic Libby Davies said the matter is too important to be left to regulators outside Canada, who may not see the issue of Canada’s new medical marijuana sector as a priority. Ms. Ambrose’s treatment of the file is an abdication of responsibility by Health Canada, Ms. Davies said.
“This is a big business, we’re talking about hundreds of millions of dollars over all in medical marijuana,” Ms. Davies said. “Their approach of, ‘It’s not really our problem, let’s leave it to other people to follow up’ – this is a completely failed response. It’s surprising; given this is the Conservative government that holds itself up to a high standard in terms of market practices. ”
Multiple requests for comment from Ms. Ambrose have been declined by her office.
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