October 11, 2017, Vancouver, B.C. – Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP), (“Veritas” or the “Company”) announces the closing of a private placement of units. Under the terms of the Private Placement Offering, the Company will be issuing 3,939,600 Units. Under the terms of the placement, each unit consists of one common share and one share purchase warrant for $0.28 per share. The Company has received $1,027,600. Each share purchase warrant will entitle the holder to acquire an additional share for $0.45 for 18 months following the Closing Date. The Company can reduce the exercise period in the event that the trading price of the Shares is $1.00 or more for a period of ten consecutive days. The Company is paying finders fees totaling 269,600 units. Proceeds from this private placement will used to advance into human trials as outlined on our May 8, 2017 News Release, and for working capital purposes.
About Veritas Pharma Inc.
Veritas Pharma Inc. is an emerging-stage pharmaceutical and IP development company, who, through 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 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
Veritas Pharma Inc.
“Dr. Lui Franciosi”
Dr. Lui Franciosi
President and Chief Executive Officer
Investor and Public Relations Contact
Veritas Pharma Inc.
Email: [email protected]
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