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Veritas Pharma Inc
Symbol VRT
Shares Issued 51,016,949
Close 2018-06-22 C$ 0.365
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Veritas appoints Theodorou business development agent

2018-06-22 16:09 ET - News Release

Dr. Lui Franciosi reports


Filios Theodorou has been appointed as Veritas Pharma Inc.'s business development agent in Cyprus. He will report to chief executive officer Dr. Lui Franciosi and undertake the company's business interests in medical cannabis industry not only in Cyprus but also in other parts of Southern Europe, Middle East and Africa. Currently, medical cannabis is legal in Cyprus -- nonetheless, doctors may only prescribe it to patients suffering from specific ailments, typically as a last resort and strictly for palliative care. The ailments include spinal cord injury, tremors, nausea associated with cancer and HIV treatments, chronic persistent pain (especially pain associated with cancer or degenerative diseases of the locomotor system), ulcerative colitis, Tourette syndrome, Crohn's disease, and posttraumatic stress disorder.

Mr. Theodorou has 30 years of executive and senior management experience in the travel, tourism, communications and information technology industries in Cyprus, United Kingdom and other European Union countries, having held positions in private and public sector companies. Using his extensive business network, he will aim to establish Veritas's presence on the island within the private investment and medical (research) communities as well as work with Cyprus's health ministry to get the necessary permits for the future importation and distribution of Cannevert-branded products to the country's pharmacies and hospitals where patients are authorized to use medical cannabis.

Veritas's CEO, Dr. Franciosi, stated: "Filios brings to Veritas great interpersonal and networking skills. We are excited to have him as part of our team. His business acumen and divergence of experience across many industries will be a great asset to assist on developing strategy and shareholder value. From Cyprus, he will also pursue our business interests in other surrounding countries where legal medical cannabis markets exist."

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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