Veritas Pharma Inc. has been granted the exclusive option to acquire 100% ownership of Sechelt, subject to certain terms and conditions including obtaining an ACMPR/MMPR license and a permit by from Health Canada for the building of a cannabis growing facility.
“Sechelt sits with a minority of applicants who have successfully moved through the security clearance stage and into the final review stage,” said Veritas CEO Lui Franciosi in a prepared statemetn. “We are excited by the prospect of Sechelt receiving its ACMPR license in due course, which is a significant development for it, Veritas and Cannevert.”
Sechelt currently owns a commercial facility in a B.C. town of the same name and, since 2014, has had an application pending with Health Canada for a new ACMPR license. Sechelt staffers include an experienced grow master who is currently a “designated grower” under current ACMPR licensing guidelines. Health Canada will now assess Sechelt’s physical security plans to validate the information in its application.
Veritas Pharma and Cannevert Therapeutics have been actively preparing for their first clinical trials of select cannabis strains targeting pain sometime this year.