Dr. Lui Franciosi reports

VERITAS PHARMA ENTERS BINDING LETTER OF INTENT TO SECURE ACMPR LICENSE AND CANNABIS GROWING FACILITY

Veritas Pharma Inc. has signed a binding letter of intent with 906474 Alberta Ltd. subject to regulatory authority to acquire 100-per-cent ownership of Sechelt Organic Marijuana Corp. (SOM), free and clear of all liens, charges and encumbrances in exchange for $800,000 payable in shares of Veritas priced at the last trading day immediately preceding the closing. Veritas is also issuing to 906474 special warrant shares which would entitle 906474 to additional shares of Veritas equal to $800,000 less the current market price of the Veritas shares times the market price on the last trading day immediately following the four-month holding period.

SOM currently owns a secure commercial facility and land located in Sechelt, B.C., Canada, and, since July 4, 2014, has had an application with Health Canada to become a licensed producer under the ACMPR (Access to Cannabis for Medical Purposes Regulations).

Dr. Lui Franciosi, chief executive officer, Veritas Pharma, commented: "This is a win-win scenario for Veritas and its shareholders. We believe this transaction is both tactical and value driven. Further and most importantly, it is representative of the steps we will take to secure and maximize our position along the medical marijuana supply chain. We are making great strides advancing our investment in R&D [research and development] through Cannevert Therapeutics, targeting pain, nauseas and PTSD [posttraumatic stress disorder] solutions. This strategic acquisition will bring together our valuable IP [intellectual property] surrounding our disease specific medical marijuana strains."

Dr. Franciosi continued, "With this acquisition, Veritas will control and have ownership of the entire process from developing our patented strains through Cannevert, to cultivation, thereby ensuring that the medical marijuana product is backed by scientific data, and that it is ready for market."

About Veritas Pharma Inc.

Veritas Pharma is an emerging discovery and IP development company, advancing the science behind medical cannabis. The company's current 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.

The company'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. Veritas is led by strong management, bringing together veteran academic pharmacologists, anesthetists and chemists.