Marapharm Ventures Increases its Investment Position in Veritas Pharma to 15 million Shares and Warrants
Marapharm Ventures (CSE:MDM) has announced it has entered into a subscription agreement to acquire five million share purchase warrants from Veritas Pharma (CSE:VRT) for consideration of $250,000.
As quoted in the press release:
“We like the Veritas Pharma business model and we know that we can play a big role in their growth. Marapharm has acquired shares and rights to acquire up to 15 million shares of Veritas, after taking into account 10 million share purchase warrants that we have. As a result of the investment, Marapharm will have the right to appoint members to the Veritas board of directors. There’s great synergy with Veritas and Marapharm and the additional investment in the share purchase warrants will provide additional capital to Veritas as they execute on their business plan.” Linda Sampson, Marapharm CEO.
On January 9, 2017 Marapharm announced that it had subscribed for 5 million units in a private placement offering of Veritas Pharma Inc., each unit consisting of 1 share and 1 share purchase warrant.