Yahoo Finance reports on the Liht press release. Saying……
The Company will vigorously defend itself against the claim made by Veritas. As set out in the Response to Civil Claim, the Company believes the allegations are without merit and that the Agreement is in full force and effect. The Company is seeking an order for specific performance requiring Veritas to perform its obligations to the Agreement and otherwise abide by its terms, or alternatively, damages.
The Company alleges that the terms of the Agreement include, amongst others, a repayment of the $1,000,000 loan by transferring $100,000 to Veritas and by assigning its interest in the asset purchase agreement to acquire a marijuana production operation in Washington State.
ABOUT LIHT CANNABIS CORP.
Liht Cannabis Corp. is a publicly traded company investing in the medical and recreational cannabis space since 2014. Liht has rapidly expanded to include cultivation, production and dispensary locations in the key North American states of Washington, Nevada, and California, and is seeking expansion opportunities worldwide.
Liht trades in Canada, ticker symbol LIHT on the CSE, and in the United States, ticker symbol LIHTF on the OTCQX. The Company also trades on other recognized platforms in Europe including Stuttgart, Tradegate, L & S, Quotnx, Dusseldorf, Munich, and Berlin.
Neither the CSE nor its Regulation Services Provider, nor the OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE, nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.
MARIJUANA INDUSTRY INVOLVEMENT:
Canadian listings (CSE) will remain in good standing as long as they provide the disclosure that is rightly required by regulators and complying with applicable licensing requirements and the regulatory framework enacted by the applicable state in which they operate.
Liht owns marijuana licenses in California and Nevada. Marijuana is legal in each state, however, marijuana remains illegal under US federal law and the approach to enforcement of US federal law against marijuana is subject to change. Shareholders and investors need to be aware that adverse enforcement actions could affect their investments and that Liht’s ability to access private and public capital could be affected and or could not be available to support continuing operations.
Liht’s business is conducted in a manner consistent with state law and is in compliance with licensing requirements. Copies of licenses are posted on Liht’s website. Liht has internal compliance procedures in place and has compliance focused attorneys engaged in jurisdictions to monitor changes in laws for compliance with US federal and state law on an ongoing basis. These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the US.
Here’s the initial press release outlining Veritas legal proceedings against LIHT
Veritas Pharma to Commence Legal Proceedings Against Liht Cannabis
VANCOUVER, British Columbia, March 04, 2019 (GLOBE NEWSWIRE) — Veritas Pharma Inc. (CSE: VRT; OTC: VRTHF; and Frankfurt: 2VP) (“Veritas” or the “Company”) announces that it has filed a claim and is commencing legal proceedings against Liht Cannabis Corp. (“Liht“) (formerly Marapharm Ventures Inc.) to recover a loan made by Veritas to Liht in the amount of $1,000,000.00 plus accrued interest. The loan is in default and Veritas has made demand for repayment but Liht has refused to make repayment.
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: www.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.