Veritas Pharma shows interest in Indigenous Bloom Hemp Corporation

Veritas Pharma has signed a letter of intent to acquire Indigenous Bloom Hemp Corporation for $28M and close by July 31st.



"As promised earlier this fiscal year, the acquisition of HempCo provides Veritas with an opportunity to mature into revenue generation phase. This transaction is also a reflection upon Veritas' ambitions to deliver shareholder value by engaging in projects that have the potential to be profitable in short to mid-term while divesting itself from projects with long-term or uncertain revenue horizons."
Peter McFadden, Interim CEO of Veritas

Veritas has seen its stock price plummet for over the past two years and has faced pressure to generate profit as it has fallen out of favor with investors.

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