Tom Bain, the Mayor of Lakeshore, Ontario, told a local news outlet Wednesday that Creative Edge Nutrition (OTO:FITX
, Stock Forum
), a company aiming to build what it has called the world’s largest medical marijuana production facility, would face public meetings and a zoning change before it can go ahead with its plans.
Talking to Ashton Patis of the Blackburn News
, Bain was reported to have said, “We believe this application, from what we’ve been told, is going to be to include packaging, processing of the marijuana and the sale of it there. There’s also probably going to be an increase in the amount of acreage.”
Bain added, “They’ve acquired some other smaller pieces of property in the area too. I’m not sure how many, but I believe they have three or maybe four pieces of property.”
This contrasts with what Creative Edge CEO Bill Chabaan told followers on the company Facebook page Tuesday night, when he remarked “zoning isn’t a problem.”
Stockhouse reported Monday that company plans to be the world’s largest medical marijuana operation, which have been widely reported in the media, including in the New York Post
, and even made it into a Seth Myers monologue on The Late Show, fly in the face of what Lakeshore officials have approved on the site
Bain told Stockhouse the city had received no application to build beyond a permitted warehouse and agricultural fence, and that the city had given permission for an agricultural operation up to 60,000 sq. ft in size, with five employees. Bain and other officials noted that the process to properly permit a ‘world’s largest’ operation, or even one larger than what had been already green-lit, could take up to six months and involve changes to local infrastructure that could be ordered at the expense of the company.
City official Kirk Foran wondered if the amount of water needed for an increased size and/or intensity at the site was even possible, given the supply available to the town.
When this reporter posed questions to Chabaan Tuesday night on this topic through the company Facebook page, the questions were deleted within the hour and access to the page removed.
Chabaan has made no public statement refuting Stockhouse’s specific allegations, though Chabaan did make a statement on his Facebook page
saying, "We continue to work hand in hand with the Town of Lakeshore to address any future concerns. They have been amazing throughout this process. I thank the Mayor, Deputy Mayor, Council and all administrative staff who have been harassed by people fishing for problems which simply don’t exist. Thank you for being shareholders. GOD Bless Canada. GOD Bless America."
FITX stock is down 16% since Monday, and drifted 12% Wednesday before recovering half its losses.