Dr. Lui Franciosi reports

VERITAS CLOSES PRIVATE PLACEMENT

Veritas Pharma Inc. has closed 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 28 cents per share. The company has received $1,027,600. Each share purchase warrant will entitle the holder to acquire an additional share for 45 cents 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 or more for a period of 10 consecutive days. The company is paying finders' fees totalling 269,600 units. Proceeds from this private placement will used to advance into human trials as outlined on the company's May 8, 2017, news release and for working capital purposes.

About Veritas Pharma Inc.

Veritas Pharma is an emerging-stage pharmaceutical and intellectual property development company, which, through 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's investment in CTL is led by a strong management team, bringing together veteran academic pharmacologists, anesthetists and chemists.