Received by email:

File: 18-02-16 VRT - News Release Davidson n Company LLP.DOCX

Veritas Intends to Complete the 100% Takeover of Cannevert Therapeutics in Q1 

February 16, 2017, Vancouver, B.C. - Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP), ("Veritas" or the
---> "Company") is pleased to announce the Company and its research arm, Cannevert Therapeutics Ltd. ("CTL"), are in proce
--->ss of obtaining a Fairness Opinion from Davidson & Company LLP ("Davidson") of Vancouver, Canada regarding Veritas' pl
--->anned takeover of Cannevert in the first Quarter of 2018.

According to Davidson, a Fairness Opinion is defined as, "any written communication containing a conclusion as to the 
--->fairness of a proposed transaction to security holders, from a financial point of view."  In other words, Veritas and 
--->Cannevert will come to an agreement on the potential value of taking over the remaining 20% of Cannevert not already o
--->wned by Veritas, and Davidson will provide their opinion on whether that value is fair based on the skillsets of the C
--->annevert team, their scientific and clinical accomplishments, including the acquisition of a Health Canada Dealer Lice
--->nce, and the current state of the medical cannabis industry.

Veritas' CEO, Dr. Lui Franciosi stated, "We are very close to taking over Cannevert.  Having a reputable accounting fi
--->rm such as Davidson & Company will give Veritas a solid opinion on what they think Cannevert is worth after two years 
--->of extensive cannabis research."  Davidson will perform this process over the next three weeks with a final report pre
--->pared for the first week of March.

About Veritas Pharma Inc. 
Veritas Pharma Inc. is an emerging pharmaceutical and IP development company, who, through its 80% owned subsidiary Ca
--->nnevert 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 a
--->nd PTSD, solving the critical need for clinical data to support medical marijuana claims. CTL's unique value propositi
--->on uses a low-cost research and development model to help drive shareholder value, and speed-to-market. Veritas invest
--->ment in CTL is led by strong management team, bringing together veteran academic pharmacologists, anesthetists & chemi
--->sts. The company's commercial mission is to patent protect IP (cultivars & strains) and sell or license to cancer clin
--->ics, 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 Sto
--->ck Exchange under the ticker VRT; in the United States, on the OTC under the ticker VRTHF; and in Germany, on the Fran
--->kfurt exchange under the ticker 2VP. 

For more information, please visit our website: veritaspharmainc.com

About Davidson & Company LLP
Davidson & Company is a full-service accounting firm located in Vancouver, Canada. The firm specializes in public comp
--->any audits, including but not limited to, mining, oil and gas, and emerging technologies. They currently perform over 
--->350 audits every year, making them one of the largest public auditors in Western Canada.  As long-time members of Nexi
--->a International, they regularly collaborate with colleagues throughout their world network. Davidson's services includ
--->e: auditing and assurance, initial public offerings, prospectuses, information circulars and regulatory advice, domest
--->ic, US and international tax planning and compliance and business valuation and litigation support. 

For more information about Davidson & Company, please visit: https://davidson-co.com/ 

On behalf of the Board of Directors

"Dr. Lui Franciosi"
Dr. Lui Franciosi
President and Chief Executive Officer

Further information about the Company is available on our website at www.veritaspharmainc.com or under our profile on 
--->SEDAR at www.sedar.com and on the CSE website at www.thecse.com. 

Investor and Public Relations Contact
Veritas Pharma Inc.
Sam Eskandari
Telephone: +1.416.918.6785 
Email: ir@veritaspharmainc.com
Website: www.veritaspharmainc.com  

The CSE has not reviewed, nor approved or disapproved the content of this press release.

###