Frankfurt’s Clearstream Banking Lifts Settlement Restrictions on Securities Active in Medical Cannabis
VANCOUVER, British Columbia, Aug. 08, 2018 (GLOBE NEWSWIRE) -- Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP) (“Veritas” or the “Company”) is pleased to announce that Clearstream Banking, a major central securities depository based in Frankfurt, Germany, which announced on June 25, 2018 that it would stop dealing with all North American cannabis stocks, has revised its decision to now solely deal with companies focused on medical cannabis such as Veritas. To read the revised list of companies and recent news release, please visit: www.clearstream.com
Clearstream originally stated that it would offer services until September 28, 2018 after which they would no longer settle and safekeep securities where the main business involved cannabis and other narcotics products. They cited legal reasons for this change and published a list of over 140 companies, including Veritas Pharma, Aurora Cannabis, Canopy Growth, and GW Pharmaceuticals.
Veritas’ CEO, Dr. Lui Franciosi, stated that, “We delighted to see a major clearing firm such Clearstream change tact and recognize the importance of companies such as Veritas which are specifically conducting medical cannabis research with the aim of creating new therapeutic products.” Dr. Franciosi goes on to say, “This is good news for our German shareholders and other investors abroad who can now resume normal activities with their holdings as Clearstream has lifted their settlement restrictions.”
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
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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