World News: 23:14 GMT Monday 11th February 2019. [Veritas Pharma Inc. via Globe Newswire via SPi World News]
VANCOUVER, British Columbia, Feb. 11, 2019 (GLOBE NEWSWIRE) -- announces the resignation of its President, CEO and Director, Dr. Lui Franciosi. Company Interim CFO, Mr. Peter McFadden will fill the executive roles in the interim until a qualified replacement is found.
Dr. Franciosi stated, “It has been a challenging year with the regulatory delays in starting the Puerto Rico human study of CTL-X and the need to raise funds for medical cannabis research. I am pleased to see the study approval has finally come through and that potential funding for Cannevert’s important scientific work has been secured, which means that the Veritas and Cannevert are now set for growth under new leadership. My work with Veritas has been a great experience, however I am extremely excited to give my primary focus to the science side of the business, and I will be available to the company at an advisory capacity to ensure seamless transition.”
Mr. McFadden stated, “The Veritas Board would like to thank Lui for his commitment to investors and to advancing the science behind medical cannabis.” Dr. Franciosi will continue to assist both companies in an operational capacity.
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.
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Globe Newswire: 23:14 GMT Monday 11th February 2019
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