VANCOUVER, British Columbia, Aug. 15, 2018 (GLOBE NEWSWIRE) -- Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP) (“Veritas” or the “Company”) is pleased to announce that it has signed a Memorandum of Understanding (“MOU”) with IsCann Group Limited (“IsCann”) located in Be'er Tuvya, Israel with the aim of establishing, maintaining, and expanding business in the Canadian and Israeli medical cannabis sector.
Under the terms of the MOU, both parties will identify key extraction, pharmaceutical, nutraceutical, and cannabis manufacturing partners with a whole plant focus rather than molecular research; undertake joint clinical research and development on select products; and identify key national and international distributions partners for market size analysis with a focus on Israel and legal European markets. Both parties will also propose speakers to participate in workshops, conferences, seminars and other events to discuss primarily bilateral trade between Veritas Pharma & Israeli pharma companies.
Veritas Pharma’s CEO, Dr. Lui Franciosi, stated, “We are excited to work with IsCann Group has they have a great understanding of the medical cannabis market opportunities in Israel and throughout the region. We in turn will help them enter the Canadian market as well as other markets of joint interest. Veritas aims to communicate and cooperate with all stakeholders, particularly, in Israel about the pharmacological evaluation and the therapeutic value of cannabis products such as the Company’s Cannevert brand.”
Eyal Mishori, the Co-founder & CEO of IsCann Group, stated, “We see great potential for growth and expansion through our mutual agreement and strategic alliance and we are very thrilled to be working with Dr. Lui Franciosi and the entire Veritas Pharma team. The pharma industry in Israel is driven by a strong academic foundation and is very established and well recognized for its reputation for high R&D spending and international reach.”
About IsCann Group Limited
IsCann is well positioned at the center of one of the world’s most important biotech, scientific and innovative cannabis hubs, our strategy is based on establishing our lines of products through strong strategic alliances and distribution systems, globally. Acting as a strategic accelerator of medicinal, pharma grade and wellness products and technologies (CBD, THC and delivery systems) within the cannabis industry, we are committed and focused on propelling the way for our alliances, partners and customers to a strong market positioning. When targeting both local and global medicinal and wellness pharma cannabis markets, IsCann is set to implement and provide state-of-the-art integrated accelerator platforms, offering scientists, biotechers, investors and developers with all the necessary tools and instruments to reach the desired markets through strong alliances, powerful distribution networks and continuous growth.
For more information about IsCann, please visit their website at: www.iscann-group.com
Veritas also wishes to announce the resignation of Ms. Linda Sampson as a Director of the Company effective immediately. The board of directors thanks Ms. Sampson for her service to the Company.
About Veritas Pharma Inc.
Veritas Pharma Inc. is an emerging pharmaceutical and IP development company, who, through its 100% owned subsidiary Cannevert 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 and PTSD, 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’ investment in CTL is led by a strong management team, bringing together veteran academic pharmacologists, anesthetists & chemists. The company’s commercial mission is to patent protect IP (cultivars & strains) and sell or license to cancer clinics, insurance industry and pharma, targeting multi-billion-dollar markets according to Deloitte’s Insights and Opportunities.
Veritas Pharma Inc. is a publicly traded company in Canada, on the Canadian Stock Exchange under the ticker VRT; in the United States, on the OTC under the ticker VRTHF; and in Germany, on the Frankfurt exchange under the ticker 2VP.
For more information, please visit our website: veritaspharmainc.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.
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