Vancouver, British Columbia--(Newsfile Corp. - July 10, 2017) - Veritas Pharma Inc. (CSE: VRT) (OTC: VRTHF) (Frankfurt: 2VP) is
pleased to announce that it is preparing to begin construction of a state-of-the-art cannabis growing facility upon receiving
Health Canada's license under Access to Cannabis for Medical Purposes Regulations (ACMPR). Veritas Pharma, through its subsidiary
Sechelt Organic Marijuana Corp., has initiated the tendering process and is awaiting bids for the construction of its proposed
growing facility.
Veritas CEO, Lui Franciosi stated, "This is an important milestone for Veritas. Sechelt has taken a meaningful step towards
building a state-of-the-art medical marijuana growing facility and we feel that this, combined with recent alterations to the
licensing process (see news release June 6, 2017) and indications from the Federal Government that they are concerned by the lack
of marijuana cultivation capacity, bodes extremely well for our project and our shareholders. With the Federal Government's aim to
legalize recreational marijuana by July 1st, 2018, our target is to be able to have our products ready for market by
that date. Sechelt team's goal will be to select the most economic proposals that can effectively meet the level of quality we
require for our medical-grade marijuana without compromise. We believe that we have the capacity to be the first company in Canada
to produce high-quality marijuana whose efficacy and potency is profiled through comprehensive scientific evidence. These are
exciting times for Veritas as the company currently is well-funded and both the research and production plans are well on
track."
Since July 4th, 2014, Sechelt has had an application pending with Health Canada for a ACMPR license for the
cultivation/production and processing of 4500 kg/yr of marijuana and, in February 2017, received notification that it is in the
final review stage of the application. Sechelt has entered into a lease with an option to purchase 0.73 acres of fenced,
geo-tech industrial property in an approved jurisdiction to build a 2-story facility totalling 20,000 square feet in Sechelt,
British Columbia, Canada. The plans for this facility include 6,800 sq. ft. of budding rooms, 3,000 sq. ft. of cloning
rooms, as well as a small testing lab and secure storage room. The building will contain a Level 9 safe, which will provide
ample room for increased production capacity going forwards. The building and the security requirements have been designed and
implemented in compliance with Canadian Federal Government requirements. Sechelt personnel include an experienced grow team
who will comply with all of the ACMPR licensing guidelines. Sechelt's personnel will also utilize a unique "no till"
technique which results in the growth of consistent strains both of which are 100% organic and cost efficient. The proposed
grow rooms are unique both in construction and design with each unit meeting airflow management and electrical light requirements.
Additionally, Veritas' growing methods focus on organic procedures for soil management and the complete exclusion of spraying any
types of chemical additives. Finally, the unique soil conditions and growing environment is designed to maximize both quality and
quantity of marijuana produced.
About Veritas Pharma Inc.
Veritas Pharma Inc. is an emerging-stage pharmaceutical and IP development company, who, through 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 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.
Veritas Pharma Inc. is a publicly traded company which trades in three countries including 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.
About Sechelt Organic Marijuana Inc.
Sechelt Organic Marijuana Corp. ("Sechelt") was formed with the purpose of becoming a licensed producer under the Access to
Cannabis for Medical Purposes (ACMPR) regulations. In 2016, Veritas entered into an agreement with Sechelt to acquire 100%
ownership of Sechelt, subject to it obtaining an ACMPR license. This agreement was reached with aims to allow Veritas to grow and
bring to market its proprietary cannabis strains.
Sechelt owns a secure commercial facility and land and leases with an option to purchase 0.73 acres of fenced, geo — tech
industrial property in an approved jurisdiction to build a 2 story, 10,000 square foot MMPR facility in Sechelt, British Columbia,
Canada.
About Cannevert Therapeutics Ltd.
CTL is a private company owned by a unique group of chemists, pharmacologists, and other medical professionals. With offices
located on the campus of the University of British Columbia, CTL has obtained permission from Health Canada to conduct research on
cannabis strains. Veritas, through its investment of $1.5 million, in CTL as of April 2017 has obtained an 80% ownership interest
in CTL. CTL has also entered a licensing agreement with Veritas, licensing Veritas to market all products developed by CTL.
Veritas Pharma Inc. is a publicly traded company, which trades in three countries including 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: www.veritaspharmainc.com
On behalf of the Board of Directors; Veritas Pharma Inc.
"Dr. Lui Franciosi"
Dr. Lui Franciosi
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.