Potentially lucrative Canadian medical-marijuana market
These forecasts could predict a windfall for Creative Edge and other companies like them, if the Canadian government grants the Michigan-based company the final approval to sell medical marijuana in the country.
On Jan. 9, Creative Edge took another step closer to approval by complying with the Canadian government’s regulations on tracking 1.3 million pounds of medical marijuana annually. The medical marijuana will be distributed by Creative Edge’s wholly owned subsidiary CEN Biotech.
Creative Edge cleared this hurdle by utilizing a new state-of-the-art M3Hub Seed to Sale Tracking platform, which meets and exceeds Health Canada's tracking compliance thresholds. This news comes less than two months after Creative Edge broke ground on its new 58,000-square-foot future Medical Marijuana distribution center, which will be attached to the company’s current 26,400-square-foot facility.
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In November, the company was notified by Canada’s federal health department, Health Canada, that it has been issued permission to build its cannabis facility. Upon completion it will be inspected by Health Canada for a permit to begin operation.
If all goes well, it will be an historic moment for Creative Edge; however, if the approval runs into trouble, it would be a major setback for the company.
Creative Edge experiences heavy volume
At close of the market on Jan. 24, Creative Edge shares volume skyrocketed to 202,134,151, nearly three times its three-month average of 69,622,425 shares. Its share price closed at 0.0421 cents, down 0.0079 cents from 5 cents a share the previous day.
“Due to the recent positive legal changes and attitudes towards medical marijuana and recreational marijuana use in general, Easton Pharmaceuticals is speeding up negotiations with an Ontario, Canada-based company towards forming a possible investment / partnership towards their medical marijuana initiatives which includes participating in their government application for both a growers and distributorship license in Canada and other possible international initiatives,” the release said.
This amazingly wordy release then goes on to say that the mystery company Eastern Pharmaceuticals is negotiating with wishes to remain anonymous for the present.
“A non-disclosure agreement as well as requests being made to Easton Pharmaceuticals to not make any name disclosures at this point in time to avoid adversely affecting any government applications submitted in November of 2013, are being adhered to,” Easton Pharmaceuticals explained.
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