Letter to OSC - Also read the letter from Eric Baron - almost indentical without any intention - Just the truth
To Whom it Concerns:
I have become aware that the OSC is interested in the facts surrounding the Cen Biotech situation.
First, let me say as a Canadian and shareholder, I am appalled and sickened at the conduct of Health Canada, Town of Lakeshore, the Globe and Mail and their employee Grant Robertson.
I started doing research on this company in the fall of 2013 and spent hundreds of hours studying the new MMPR regulations being put in place in the spring of 2014, the companies objectives and qualifications, plus the site, zoning, and general ramifications of the industry through the endorsements of the Town Council of Lakeshore and it’s Mayor Tom Bain and the regional council I should add.
The Town in association with Health Canada approached the Cen Biotech Group to create this facility on property chosen by Town Council as appropriate in terms of zoning and the business application and size.
After a 900 page application was submitted to Health Canada that passed all criteria for a license, a ready to build permit was issued from Health Canada to the Cen Biotech group. The Town of Lakeshore issued a building permit and held a big press conference welcoming the new industry and congratulating themselves on the hard work it took to get this done. Health Canada urged Cen Biotech to expedite the build out of the first building to facilitate the expected market that the new medical marijuana laws would create. During this process, Mr. Chabaan was very transparent to the shareholders, posting documents as they arrived and discussing issues with shareholders and any people who took issue with this new start up firm. He held an open house at the plant for shareholders, and invited specific aggressive opponents to either come to the plant or to meet with him to discuss their issues. He hired the best people in the field that he could find to create a stellar Board of Directors. They spent a considerable amount of money based on the approvals and encouragement of authorities and many of us invested based on the same encouragements of the authorities - not Mr. Chabaan.
After the plant was completed and had passed all the Town Inspections at the end of April, the company was forced to wait three months for Health Canada to show up and inspect the facility. What type of entity abuses power like that. They encourage a company to spend millions of dollars to create a state of the art facility, expedite the build out, then ignores them for months, contrary to there own guidelines. Due to this failure on Health Canada’s part, market manipulation and constant bashing by certain websites and individuals started to benefit their efforts as this was a highly anticipated and expected start up with a vast following of potential investors and those already invested.
It was also at this time that Council of Lakeshore started to mysteriously change their feeling toward the facility and it’s location, who also began to suffer memory lapses when it came to their own approvals, recommendations and blessings given in the prior 6 months. Every public comment Mr. Chabaan made in regards to any situation, was manipulated by the opposing forces to suit their agenda of manipulating the stock price or hurt the reputation of Mr. Chabaan and the company.
After Health Canada inspected and approved the facility with two very minor adjustments required, the license was expected to be issued very shortly thereafter, according to their guidelines and Mr. Chabaan reported this to the shareholders. A spike in the share price occurred due to the inspection and the positive report, and would have occurred with or without a public comment by Mr. Chabaan as this was highly anticipated across the market.
The license never came, and then a coordinated attack by Grant Robertson of the Globe and Mail started, accusing Mr. Chabaan of all sorts misleading statements in order to benefit from insider sales etc. Well, let me tell you, Mr. Chabaan has not made a statement that wasn’t based on information issued by Health Canada or assurances given by the Town of Lakeshore. If he has been made to look like his statements were inaccurate or misleading, it was due to the failures of Health Canada and the Town of Lakeshore to govern and live up to their own assurances, procedures and guidelines. If he sold shares, they were sold as per the regulations of the SEC. Is he supposed to fund this venture out of his own pocket. The shareholders are aware of his sales and endorse them.
The obvious program of the Globe and Mail to discredit Mr. Chabaan wreaks of corruption in association with Health Canada and Lakeshore who seem to feel free to lie, mislead, manipulate and break their owns laws as evidenced by the Health Canada leak of sensitive information to Grant Robertson of the Globe and Mail. The root instigators of this effort to shut down Cen Biotech has not been discovered as of yet, but hopefully the criminal element will be made known and held accountable to the company, the shareholders and the Canadian public with the help of courts and other entities if we can find any honourable agencies with integrity which we hope the OSC is.
There is a large group of shareholders of all creeds, colours, nationalities, religions, and beliefs, that can’t believe Canada and certain parties within, a seemingly just, honourable, advanced democratic society, can behave, manipulate, and purposely, criminally, try to destroy a company that has followed the rules, requirements, codes of conduct, in an effort to create medicine to help save lives and comfort the ill. They act at will without any ramifications and are the true manipulators of the stock for their benefit. Mr Chabaan has been transparent and honest to the shareholders and that is why there are still thousands of shareholders that will endorse him. Thank you for your time.
.
Like · Comment
.
Mohamad Sadeddin and 98 others like this.
.
Mike Ortiz That about sums it up
21 hrs · Like
