Dr. Lui Franciosi reports

VERITAS PHARMA SIGNS R&D AND MEDICAL CANNABIS SUPPLY AGREEMENT WITH COLOMBIAN PRODUCER FOLIUMED S.A.S.

Veritas Pharma Inc. has entered into a memorandum of understanding with Colombian medical cannabis company Foliumed SAS.

Under the terms of the MOU, Veritas and Foliumed will jointly conduct scientific research, undertake product development activities and commercialize select medical cannabis products with the help of Veritas's research arm, Cannevert Therapeutics Ltd. Foliumed will provide Veritas with pharma-grade medical cannabis extracts derived from unique Colombian cannabis strains, manufactured in a Good Manufacturing Practice-certified extraction facility.

The focus of the collaboration will be aimed at advancing specific cannabis cultivars for specific disease and chronic conditions through joint intellectual property development and commercialization of certain trademark medicinal products. Veritas Pharma and Foliumed Colombia aim to have products based upon Cannevert formulations produced and ready for commercial distribution in Latin America and Western Europe by the first quarter of 2019. The product's dosing and method of administration will be standardized to actively compete with over-the-counter medicines. With the help of Cannevert scientists, the company wants to provide physicians and patients with scientifically tested and clinically proven cannabis therapies.

Veritas's chief executive officer, Dr. Lui Franciosi, stated: "Foliumed will assist us in further developing proprietary strains that can produce consistent and optimal therapeutic effects in patients. We want a collaborative agreement with them, which will outline this development work and related intellectual property, as well as the approach to profit sharing."

Foliumed's founder and executive chairman Oliver Zugel stated: "We are pleased to be working with Veritas and their Cannevert scientists to develop medically relevant cannabis strains and cannabinoid formulations with optimal therapeutic properties with Colombian genetics. Foliumed is looking forward to leverage the capabilities of both parties in producing medicines for patients in Latin America and Western Europe through our international distribution network."

Pursuant to the MOU, a co-IP development agreement and joint venture agreement with respect of the transactions contemplated in the MOU are expected to be executed by the parties on or before the next 45 and 90 days respectively.

About Veritas Pharma Inc.

Veritas Pharma is an emerging pharmaceutical and IP (intellectual property) development company, which, through its 100-per-cent-owned subsidiary Cannevert Therapeutics (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 (posttraumatic stress disorder), 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.

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