VANCOUVER, British Columbia, Sept. 11, 2018 (GLOBE NEWSWIRE) -- Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP) (“Veritas” or the “Company”) is pleased to announce that 3 Carbon Extractions Inc. (“3 CARBON”), an industry leader in regulatory compliant cannabis hydrocarbon extraction solutions, has entered into a Memorandum of Understanding (“MOU”) with Rubikon Blockchain Corporation (“Rubikon”) to establish secure infrastructure for the tracking of manufacturing equipment and the processing of cannabis extracts.
Joel Semczyszyn, Rubikon’s CEO, was quoted, “We have extensively explored the cannabis processing and manufacturing sector and are excited to work with a company that shares our values of integrity, transparency, and providing value like 3 Carbon Extractions."
Rubikon, a leading blockchain development company, has developed a cutting-edge product information platform for the developing of cannabis industry. By integrating RFID technology, advancements in Seed-to-Sale software, and an immutable blockchain protocol, they provide an industry wide comprehensive tracking and data management solution. Rubikon is invested in being the global leader in the compliance and product tracking sectors, and this pending agreement will expand their commercial breadth as well as increase 3 Carbon’s compliance reporting and information transparency.
For more information about Rubikon, please visit their website at: rubikon.io
3 Carbon Extractions CEO Phillip Kwong said, “With Canada’s plan to legalize and regulate edible cannabis products and derivatives in 2019, this MOU creates an opportunity for our two companies to establish an effective and efficient tracking system for cannabis processors and manufacturers that will help them achieve quality standards and comply with complex government regulations.”
Veritas’ CEO, Dr. Lui Franciosi commented: “Joel and his team along with Phil will work great together, especially in helping our Company maximize the potential of blockchain technology for use in Cannevert’s cannabis-hemp laboratory testing services along with their upcoming products in the medical cannabis space.”
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.
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.