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Sativa Investments (SATI)

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Monday 21 May, 2018

Sativa Investments

Sativa invests in Veritas Pharma - Correction

RNS Number : 7080O
Sativa Investments PLC
21 May 2018
 

The following amendment has been made to the 'Sativa invests in Canadian-based Veritas Pharma' announcement released on Monday, 21st of May, 2018 at 7:00am under RNS No 6502O.

 

Decimal point error in headline - the correct investment amount is C$ 200,000.

 

All other details remain unchanged.

 

The full amended text is shown below.

 

Press Release 

21 May 2018

 

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014.  Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain. 

 

Sativa Investments PLC

 

 ("Sativa" or "the Company")

 

Sativa Investments commits to C$ 0.2 million investment

 in Canadian-based Veritas Pharma            

 

Sativa Investments PLC (NEX:SATI), the UK's first medicinal cannabis investment vehicle, has subscribed for 500,000 new shares at C$ 0.40 per share, at a cost of C$ 0.2 million cash, in Canadian-based emerging global pharmaceutical company Veritas Pharma Inc (or "Veritas Pharma"), which is tri-listed on the Canadian Securities Exchange, America's OTC exchange and the Frankfurt Stock Exchange.   

 

Veritas Pharma focuses on the discovery, product development and commercialisation of effective patented Medicinal Cannabis therapies which target disease conditions in the areas of chronic pain, senior long-term and palliative care.

 

Veritas, through its subsidiary company, Cannevert Therapeutics Ltd., aims to obtain compelling scientific evidence for healthcare professionals to utilise medicinal cannabis strains with a reliable therapeutic effect on patients.

 

Geremy Thomas, founder and Chief Executive Officer of Sativa, said: "We are delighted to increase our portfolio of investments by, in this case, adding a pharmaceutical research and development business. Veritas Pharma is a well-respected company in the medicinal cannabis sector with an excellent pipeline for the development of strains to treat unmet clinical needs, and is a highly suitable investment." 

 

"The investment in Veritas reflects the Company's strategy to invest in well-established companies in jurisdictions where the use of Medicinal Cannabis is regulatory accepted.  Canada approved the use of medicinal cannabis in 2001." 

 

Dr. Lui Franciosi, Chief Executive of Veritas Pharma, said:  "We are delighted to work together with Sativa, as we meet its investment strategy with also the potential for Veritas to have Sativa as a partner for European expansion." 

 

 

-  Ends  -

 

For further information please contact:

 

Geremy Thomas

Founder & Chief Executive Officer

Sativa Investments PLC

+44 (0) 20 7971 1255

[email protected]

Mark Blower

Executive Director 

Sativa Investments PLC

+44 (0) 20 7971 1255

[email protected]

 

NEX Exchange Corporate Adviser

Guy Miller

Peterhouse Capital Limited 

+44 (0) 20 7469 0930

[email protected]

 

 

Financial PR and IR

Julian Bosdet / Dylan Mark /

Alejandra Campuzano

Abchurch Communications

+44 (0) 20 7469 4630

[email protected]  

 

 

 

Notes to Editors

 

Sativa will look for well-placed opportunities within the dynamic regulatory environment of the Medicinal Cannabis sector and the Company's investment strategy will focus on the production, testing and compliance, research and development, including pharmacology, commercialisation and sales and marketing of Medicinal Cannabis in jurisdictions where it is regulatorily accepted, with an initial focus on Canada.  The Company has committed to an independent legal review prior to each investment to verify compliance with the prevailing regulatory environment. 

 

The Company's equity interest in a proposed investment may range from a minority position, to a controlling interest, or to 100 per cent ownership.  The ventures that Sativa intends to acquire can either be public or private. 

The Company's Board and Medical Cannabis Advisory Board have a combined 60 years' industry experience with strong and extensive contacts in the industry, with significant pharmaceutical strength and experience.  Their extensive skills range from capital fund raisings, medical research, and start-ups, to pharmaceutical development. 

For more information on Sativa Investments, please visit: https://sativainvestments.co.uk/ 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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