It’s time for the Daily Hit of cannabis news for May 7, 2018.
True Leaf Medicine International Ltd. (TRLFF) will present its first line of hemp-based treats specially formulated for cats at Interzoo, May 8-11, 2018, in Nuremberg, Germany. According to a company statement, tThe innovative treats have a crunchy outer shell and a soft inner core made with hemp — a first to the industry world-wide. The functional treats will provide calming support for cats, promote skin and coat health, help prevent hairballs, and also support urinary tract function.
Veritas Pharma Inc. (VRTHF) announced the establishment of new subsidiary Veritas Pharma Puerto Rico in the US territory. Veritas PR will commence the upcoming human trials of Cannevert Therapeutics Ltd.’s lead cannabis strain, CTL-X. The trials are being conducted by Fundación de Investigación Clinical Research facilities in San Juan, Puerto Rico. The study will be done in two stages to assess the analgesic effects of this lead strain. The first stage will have an open label design to look at the feasibility of two doses of CTL-X in 5 subjects while the second stage will use a randomized, double- blind, crossover design to assess one dose of CTL-X against a placebo control strain in subjects who will be exposed to various modalities of acute pain. The Institute for Medical Cannabis (“IMC”) Corporation of Puerto Rico will prepare and supply the CTL-X and placebo for the upcoming studies.
CannaRoyalty Corp. (CNNRF) announced that current EVP, Corporate Development and General Counsel, Afzal Hasan, has been appointed President, effective immediately. As President, Afzal will have responsibility for the Company’s day-to-day operations with a near-term focus on integrating recent California acquisitions and maximizing the potential of the Company’s leading distribution footprint and strong brand position in the state. As EVP, Corporate Development and General Counsel for the Company, Afzal has led all transactions since joining and has been instrumental in growing the Company into a leader in California.
Trichome Yield Corp., a majority owned subsidiary of CannaRoyalty Corp. announced that its Board of Directors has appointed Michael Ruscetta as the Company’s Chief Executive Officer and to its Board of Directors, effective May 7, 2018. As CEO, Mr. Ruscetta will oversee Trichome’s investment strategy and capital allocation decisions as well as assume day-to-day leadership of the Company. Mr. Ruscetta joins Trichome after previously managing the RCM Special Situations Fund, a Canadian focused value-oriented equity fund. Previously, Mr. Ruscetta served as Co-Head of Goldman Sachs’ Canada Special Situations Group, a multi-asset principal investing platform, and as Managing Director of Amaranth Advisors (Canada) ULC, a multi-strategy investment fund that was headquartered in Connecticut.