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Press Release

Veritas’ Research Arm Cannevert Signs a Material Transfer Agreement with the Institute for Medical Cannabis of Puerto Rico


Posted on: 05 Dec 17

VANCOUVER, British Columbia, Dec. 05, 2017 (GLOBE NEWSWIRE) -- Veritas Pharma Inc. (CSE:VRT) (OTC:VRTHF) (Frankfurt:2VP), (“Veritas” or the “Company”) announces its research arm, Cannevert Therapeutics Ltd. (“CTL”) has signed a Material Transfer Agreement with the Institute for Medical Cannabis (“IMC”) Corporation of Puerto Rico. IMC will provide Cannevert with specific cannabis strains for upcoming human studies in the US territory.

IMC is the first licensed medical cannabis company under the State Department Medical Cannabis Health Code to supply a variety of the high quality medical cannabis products for the medical community.  It has a state of the art facility in Ponce that provides cultivation, extraction, formulation, multiple forms of production, and research using the best, award winning strains, technology and processes in the industry. 

IMC operates in a 44,000-square-foot building with 15,000 square feet of indoor cannabis under lights with an additional 1,800 square feet of ISO Class 7 cleanroom class manufacturing space. For more information about IMC, please visit their website at http://imc-pr.com.

Veritas’ CEO, Dr. Lui Franciosi, stated “We are pleased that Cannevert has identified a reputable producer that is focused on providing certified quality products, educating the medical community on the potential benefits of cannabis, and conducting clinical research on its products. They will enable us to get medical grade strains of interest into the clinic and scientifically evaluated against different kinds of pain.”

About Veritas Pharma Inc.

Veritas Pharma Inc. is an emerging-stage pharmaceutical and IP development company, who, through its 80% owned Cannevert Therapeutics Ltd. ("CTL"), is advancing the science behind medical cannabis. It is the Company aim, through its investment in CTL, to develop the most effective cannabis strains (cultivars) specific to pain, nausea, epilepsy and PTSD, solving the critical need for clinical data to support medical marijuana claims. CTL’s unique value proposition uses a low-cost research and development model to help drive shareholder value, and speed-to-market. Veritas investment in CTL is led by strong management team, bringing together veteran academic pharmacologists, anesthetists & chemists. The company's commercial mission is to patent protect CTL’s IP (cultivars & strains) and sell or license to cancer clinics, insurance industry and pharma, targeting multi-billion dollar global markets.

Veritas Pharma Inc. is a publicly traded company which trades in three countries including Canada, on the Canadian Securities Exchange under the ticker VRT; in the United States, on the OTC under the ticker VRTHF; and in Germany, on the Frankfurt exchange under the ticker 2VP.

For more information, please visit our website: veritaspharmainc.com

On behalf of the Board of Directors

"Dr. Lui Franciosi"
Dr. Lui Franciosi
President and Chief Executive Officer

Further information about the Company is available on our website at www.veritaspharmainc.com or under our profile on SEDAR at www.sedar.com and on the CSE website at www.thecse.com.

Investor and Public Relations Contact
Veritas Pharma Inc.
Sam Eskandari
Telephone: +1.416.918.6785
Email: ir@veritaspharmainc.com
Website: www.veritaspharmainc.com

The CSE has not reviewed, nor approved or disapproved the content of this press release.

GlobeNewswire
globenewswire.com

Last updated on: 05/12/2017

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