VANCOUVER, British Columbia, June 25, 2018 (GLOBE NEWSWIRE) -- Veritas Pharma Inc. (CSE:VRT) (OTC:VRTHF) (Frankfurt: 2VP) (“Veritas” or the “Company”) is pleased to announce that Mr. Filios Theodorou has been appointed as its business development agent in Cyprus. He will report to CEO, Dr. Lui Franciosi and undertake the Company’s business interests in medical cannabis industry not only in Cyprus but also in other parts of Southern Europe, Middle East and Africa (“SEMEA”).
Currently, medical cannabis is legal in Cyprus, nonetheless doctors may only prescribe it to patients suffering from specific ailments, typically as a last resort and strictly for palliative care. The ailments include spinal cord injury, tremors, nausea associated with cancer and HIV treatments, chronic persistent pain (especially pain associated with cancer or degenerative diseases of the locomotor system), ulcerative colitis, Tourette syndrome, Crohn’s disease and Post-Traumatic Stress Disorder.
Mr. Theodorou has 30 years of executive and senior management experience in the travel, tourism, communications, and information technology industries in Cyprus, United Kingdom and other EU countries, having held positions in private and public-sector companies. Using his extensive business network, he will aim to establish Veritas’ presence on the Island within the private investment and medical (research) communities as well as work with Cyprus’ Health Ministry to get the necessary permits for the future importation and distribution of Cannevert branded products to the country’s pharmacies and hospitals where patients are authorized to use medical cannabis.
Veritas’ CEO, Dr. Lui Franciosi stated “Filios brings to Veritas great interpersonal and networking skills. We are excited to have him as part of our team. His business acumen and divergence of experience across many industries will be a great asset to assist on developing strategy and shareholder value. From Cyprus, he will also pursue our business interests in other surrounding countries where legal medical cannabis markets exist.”
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 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 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.
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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