VANCOUVER, British Columbia, July 17, 2018 (GLOBE NEWSWIRE) -- Veritas Pharma Inc. (CSE:VRT) (OTC:VRTHF) (Frankfurt:2VP), (“Veritas” or the “Company”) is pleased to announce that it has signed an Intellectual Property Sharing Agreement (“Joint IP”) with Sativa Investments PLC (“Sativa”) (NEX:SATI), UK’s first medicinal cannabis investment fund.
Veritas through its subsidiary company, Cannevert Therapeutics Ltd., will apply its pharmacological methods on cannabis strain lead selection to assist Sativa’s application to the UK Home Office Drugs Licensing and Compliance Unit for a medicinal cannabis growing license.
As previously announced on May 21, 2018, Sativa subscribed on a non-brokered private placement basis to Common Shares of Veritas for gross proceeds to the Company of C$ 0.2 million.
Dr. Lui Franciosi, Chief Executive Officer of Veritas Pharma, stated: “Veritas is pleased to work together with Sativa on IP, as we work to develop therapeutic cannabis solutions in anticipation of future changes in legislation for controlling the use of cannabis that will place our partnership well positioned for UK and European expansion.”
“We are very excited to further work with Dr. Lui Franciosi and the entire Veritas Pharma team. The work that will be done through Cannevert Therapeutics to develop clear, systematic, scientific and batch-to-batch therapeutic cannabis IP solutions that can be shared with Sativa is exciting and enables for a strong UK and Euro base for Veritas. A key part of Sativa’s strategy in the cannabis industry is to mark overseas companies for investments that can be leveraged to assist Sativa as it participates commercially in the UK and Europe,” said Geremy Thomas, founder and Chief Executive Officer of Sativa.
About Sativa Investments PLC
Sativa seeks to invest in companies which are well-placed to take advantage of the dynamic regulatory environment surrounding medical Cannabis. Sativa investment strategy focuses on production, pharmacology, testing and compliance, R&D commercialization, and sales and marketing. Sativa has made investments in cannabis companies and is working to identify possible target investments in the key areas of interest. Sativa is listed on NEX Exchange located in London, UK under the symbol SATI.
About Veritas Pharma Inc.
Veritas Pharma Inc. is an emerging pharmaceutical and IP development company, who, through its 100% owned subsidiary Cannevert Therapeutics Ltd. (“CTL“), is advancing the science behind medical cannabis. It is the Company’s 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 a strong management team, bringing together veteran academic pharmacologists, anesthetists & chemists. The company’s commercial mission is to patent protect IP (cultivars & strains) and sell or license to cancer clinics, insurance industry and pharma, targeting multi-billion-dollar markets according to Deloitte’s Insights and Opportunities.
Veritas Pharma Inc. is a publicly traded company in Canada, on the Canadian Stock 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
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.