Dr. Lui Franciosi reports

VERITAS PHARMA COMPLETES THE 100% TAKEOVER OF CANNEVERT THERAPEUTICS

Veritas Pharma Inc. has completed the 100-per-cent takeover of its research arm, Cannevert Therapeutics Ltd. (CTL).

As previously announced on Feb. 20, 2018, Veritas and Cannavert entered into an agreement on the potential value of taking over the remaining 20 per cent of Cannevert not already owned by Veritas, which resulted into entering a purchase agreement. Davidson & Company LLP of Vancouver provided a fairness opinion, and, according to Davidson, a fairness opinion is defined as any written communication containing a conclusion as to the fairness of a proposed transaction to securityholders, from a financial point of view.

Pursuant to the terms of the agreement, the company will issue CTL five million common shares of Veritas.

The Cannevert acquisition will further enhance and extend the company's product offering through development of the most effective cannabis strains, advancing the science behind medical cannabis, providing distribution channels for the company's patent-protected intellectual property (cultivars and strains) products, and selling or licensing to cancer clinics in Canada, the United States and Europe.

Veritas's chief executive officer, Dr. Lui Franciosi, stated: "The closing of the Cannevert transaction marks a milestone, and Veritas continues to demonstrate its commitment to Cannevert through this increased participation. Plans are to now focus on enhancing the value of its current assets while keeping an eye on the market for additional acquisition opportunities."

About Cannevert Therapeutics Ltd.

Cannevert Therapeutics has its office at the Gerald McGavin building on the campus of the University of British Columbia, which is owned by UBC Property Trust as an independent incubator site. Cannevert is 100 per cent owned by Veritas Pharma and was established for the specific purpose of releasing the therapeutic potential of different cannabis cultivars in a clear, systematic and scientific manner.

About Veritas Pharma Inc.

Veritas Pharma is an emerging pharmaceutical and intellectual property development company that, through its 100-per-cent-owned subsidiary, Cannevert Therapeutics, 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 posttraumatic stress disorder, solving the critical need for clinical data to support medical marijuana claims.