Veritas Pharma Enters Into Share Purchase Agreement with 3 Carbon Extractions Inc.

  • 3 Carbon is in the business of designing cannabis extraction facilities and utilizing its own proprietary extraction methods.

VANCOUVER, British Columbia, April 16, 2018 (GLOBE NEWSWIRE) — Veritas Pharma Inc. (CSE:VRT) (OTC:VRTHF) (Frankfurt:2VP) (“Veritas” or the “Company”) is pleased to announce that it has entered into a Share Purchase Agreement (Purchase Agreement”) with 3 Carbon Extractions Inc. (“3 Carbon”) to acquire Fifty Percent (50%) of the issued and outstanding shares of 3 Carbon.

The remaining Fifty Percent (50%) equity interest can be acquired by Veritas based upon a value to be decided by a qualified independent business valuator. The valuator will be jointly engaged by Veritas and 3 Carbon to prepare a valuation report to determine, as at the third anniversary of the date of the initial share exchange, the total value of 3 Carbon. The purchase price for which shall be paid in cash or in fully

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