Veritas Pharma Signs LOI to Acquire Sechelt Organic, Owner of Cannabis Facility and Pending ACMPR License - Video News Alert on InvestmentPitch.com

Vancouver, British Columbia--(Newsfile Corp. - November 23, 2016) - Veritas Pharma (CSE: VRT) (OTC Pink: VRTHF) (FSE: 2VP), an emerging pharmaceutical and IP development company, has signed a Letter of Intent to acquire 100% of Sechelt Organic Marijuana Inc. This acquisition is subject to Sechelt Organic Marijuana obtaining its licenses under Health Canada's "Access to Cannabis for Medical Purposes Regulations" and "Marihuana for Medical Purposes Regulations", as well as the required build permit.

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Sechelt owns a secure commercial facility and land located in Sechelt, British Columbia, and has a MMPR application pending with Health Canada. Sechelt personnel includes an experienced grow master who is currently a "designated grower" under current licensing guidelines. Veritas will manage the application process with Health Canada, and pay the out-of-pocket expenses.

Veritas will make a cash payment of $400,000 for the assets and issue shares valued at $400,000 for the pending MMPR license.

Veritas is in the process of acquiring 80% ownership of Cannevert Therapeutics, which is located on the campus of the University of British Columbia, and owned by a group of chemists, pharmacologists, and other medical professionals. Veritas has advanced $750,000 of the $1.5 million acquisition cost, and upon full payment Veritas will acquire the license to market all products developed by Cannevert.

Dr. Lui Franciosi, Veritas' CEO, stated: "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. With this acquisition, Veritas will have ownership of the entire process from developing our patented strains through Cannevert, to cultivation, thereby ensuring our medical marijuana product is ready to market, that is backed by scientific data."

The company plans to develop strains specific to pain, nausea, epilepsy and PTSD.

The company is currently raising up to $1,425,000 through a private placement of up to 4,750,000 units priced at $0.30 per unit. Each unit consists of 1 share and one-half a warrant, with each full warrant exercisable at $0.50 for 18 months.

For more information please visit the company's website www.veritaspharmainc.com, or contact Sam Eskandari at 416-918-6785 or email ir@veritaspharmainc.com.

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