Veritas Pharma Inc (OTCMKTS:VRTHF) is a company that focuses in the development of cannabis healthcare products, therapies and services. It seeks to handle acute medical conditions such as PTSD and epilepsy. This company has spoken in relation to its entry into a Memorandum of Understanding.
The Memorandum of Understanding
It moves into the MOU with Medical Cannabis (the “IMC”) of Puerto Rico and the two seek to achieve their set target. They hope to succeed on their quest to commercialize a wide range of pharmaceutical products. This MOU tells much about Puerto Rico’s entry into the growing market of this particular island. A person well conversant with the matter has termed it a unique move.
The MOU involves the formulation of a timetable that guides all aspects of the information exchanges and collaboration. It also entails the set up of a Steering Committee. The two say they will try their best to move fast with the MOU. They seek to leverage of the new legal framework which targets marketing the latest medicinal cannabis products.
Dr. Lui Franciosi is the current CEO of Veritas. The official expresses optimism that the collaboration will give them some better placement. Franciosi outlines that they seek to take advantage of the great experience of the Institute with the Island. Sources also indicate that the research and development model of Veritas will be of great benefit.
A close outlook
The President of IMC Alberto Burckhart has applauded the agreement with Veritas outlining that it marks a new dawn for both of them. The official terms it a major addition to medicinal cannabis industry of Puerto Rico.
Burckhart exudes confidence that the partnership will present great possibilities. They look forward to seeing the region become a major power player in the zone.
Veritas has also pronounced a $1.25 million investment, a move that will see it purchase a new cannabis facility in Kelowna.
Franciosi opined, “The investment in this opportunity, provide Veritas with the ability to control the supply of cannabis required for research, and to develop and commercialize the requisite cannabis strains specific to pain management, and eventually to assist in the treatment of other diseases.”