Emerging-stage pharmaceutical and IP development company Veritas Pharma Inc. (CSE: VRT) (OTC: VRTHF) (FRT: 2VP), alongside research arm Cannevert Therapeutics Ltd., this morning announced that it is in the process of obtaining a fairness opinion from Davidson & Company LLP of Vancouver, Canada, regarding Veritas’ planned acquisition of the remaining 20 percent of Cannevert in the first quarter of 2018. Per the update, 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.” Davidson & Company is expected to perform this process over the next three weeks, with a final report being prepared for the first week of March. “We are very close to taking over Cannevert,” Dr. Lui Franciosi, CEO of Veritas, stated in the news release. “Having a reputable accounting firm such as Davidson & Company will give Veritas a solid opinion on what they think Cannevert is worth after two years of extensive cannabis research.”
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About Veritas Pharma Inc.
Veritas Pharma Inc. is an emerging-stage pharmaceutical and IP development company, who, through its 80% owned Cannevert Therapeutics Ltd. (“CTL”), is advancing the science behind medical cannabis. It is the Company 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 strong management team, bringing together veteran academic pharmacologists, anesthetists & chemists. The company’s commercial mission is to patent protect CTL’s IP (cultivars & strains) and sell or license to cancer clinics, insurance industry and pharma, targeting multi-billion dollar global markets. For more information, visit the company’s website at www.VeritasPharmaInc.com
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