VANCOUVER, British Columbia, July 27, 2018 (GLOBE NEWSWIRE) -- Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP) (“Veritas” or the “Company”) is pleased to announce that effective June 25, 2018, it cancelled a total of 3,272,000 incentive stock options (“Options”) granted under the Company’s stock option plan (the “Option Plan”) to consultants, directors of the Company. The cancelled Options were voluntarily surrendered by the holder thereof for no consideration.
The following are the details:
| Grant Date | Expired Date | Number Granted | Exercise Price | |
| 11/28/2017 | 11/28/2018 | 200,000 | $0.81 | |
| 11/28/2017 | 11/28/2018 | 710,000 | $0.61 | |
| 11/28/2017 | 11/28/2018 | 385,000 | $0.80 | |
| 11/28/2017 | 11/28/2018 | 1050000 | $0.65 | |
| 12/21/2017 | 12/21/2018 | 972,000 | $0.62 | |
| 3,272,000 | ||||
On June 25, 2018, the Company entered into an 8% three month secured one million dollar ($1,000,000.00) loan agreement with Marapharm Ventures Inc. (“CSE:MDM”). The loan is fully secured by the assets of Marapharm.
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
The CSE has not reviewed, nor approved or disapproved the content of this press release.