FITX's Bill Chaaban Unknowingly Admits Fraud

March 13, 2015: Yesterday, Creative Edge Nurtition's (FITX) CEO, Bill Chaaban, released a letter to shareholders through a press release in which he acknowledges that he was personally served with a rejection notice from Health Canada, rejecting the application of CEN Biotech, and thereby denying the Company a license to produce medicinal marijuana under Canada's MMPR program.

What Chaaban also unintentionally did was cop to fraud.

Within the opening paragraph of his letter to shareholders, Bill makes the statement, As you may know, back on February 13, 2015, Health Canada issued the Company a "Letter of Intent to Deny" CEN Biotech's application, which letter was not received by CEN Biotech until February 18, 2015.

This is a far cry from what Bill actually said happened at the time.

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On February 19, 2015, in a press release providing a shareholder update, FITX issued the statement that the company, "is pleased to announce it has been asked to provide additional information to Health Canada in support of its application to operate under the federal government's Medical Marijuana Purposes Regulations (MMPR)." There was no mention of the Letter of Intent to Deny.

The February 19th sugarcoat was an outright lie, just another in a stack of them by FITX and Chaaban, and now Bill has accidentally acknowledged that fact.

This is securities fraud, fraud, and concealment of a material fact, all enough to get Chaaban charged by the SEC and certainly enough to subject him and FITX to a spate of lawsuits.