The Company may, in its sole
discretion, pay a finder's fee to agents of the Company: (i) a cash fee in an
amount of 8% of the proceeds raised by such finder as part of this Offering (including
any proceeds pursuant to the Over-Allotment Option), and (ii) a number of finder's
options entitling the holder thereof to purchase that number of Units of the Company
("Finder's Unit") that is equal up to 8% of the number of Units
placed through the finder as part of this Offering (including any proceeds
pursuant to the Over-Allotment Option).
The proceeds from the financing
will be used to complete the acquisition of Cannevert Therapeutics Ltd. (“CTL”)
and for working capital purposes.
About Veritas Pharma
Inc.
Veritas
Pharma Inc. is an emerging discovery and IP development company, committed to
advancing the science behind medical cannabis. The company’s current R&D
effortsare being conducted through its strategic partner, CTL. The ultimate
objectives of our R&D efforts are to develop the most effective cannabis strains
(cultivars) specific to pain, nausea, epilepsy and PTSD, solving the critical
need for real science to support medical marijuana claims.
About Cannevert
Therapeutics Ltd.
CTL
is a private company owned by a unique group of chemists, pharmacologists, and other
medical science professionals. With offices located on the campus of the
University of British Columbia, CTL has obtained permission from Health Canada
to conduct research on cannabis strains. CTL has entered a funding agreement
with Veritas where, upon advancing $1.5
million to CTL, Veritas will earn an 80% ownership interest in CTL.
To
date, Veritas has advanced $1,000,000 to CTL and holds contingent ownership of,
but not the voting rights over, 53.3% of the issued and outstanding common
shares of CTL.
Veritas
will not acquire full ownership rights, including voting rights, over any CTL common
shares until the entire $1.5 million has been paid. CTL has also entered a licensing
agreement with Veritas, licensing Veritas to market all products developed by CTL.
Veritas’
and CTL’s unique value proposition employs a whole plant methodology, using a low-cost
research and development model to help drive shareholder value and speed-to market.
The company’s commercial mission is to patent protect its 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 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: www.veritaspharmainc.com
On behalf of the
Board of Directors; Veritas Pharma Inc.
"Dr. Lui Franciosi"
Dr. Lui Franciosi
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.