Sante Veritas is a diversified Canadian cannabis company that was acquired by TILT through reverse takeover in 2018. Santé Veritas Holdings Inc. (SVH) owns 100% of Sante Veritas Therapeutics Inc. (SVT). At present, Sante Veritas Therapeutics Inc. (SVT) is the Company’s (SVH’s) singular asset.
Sante Veritas Therapeutics Inc. (SVT) is a late stage applicant under Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR). The Company (SVT) was incorporated in British Columbia in February 2012 and in August 2013, applied to Health Canada for permission under the Marihuana for Medical Purposes Regulations (MMPR) to convert an administrative office building owned by the City of Powell River, British Columbia into a facility for the cultivation, harvest and sale of adult cannabis for medical purposes.
In June 2016, Health Canada issued the Company (SVT) its Confirmation of Readiness (COR). As a result, the Company (SVT) raised $6.6M through a brokered private placement in January 2017 and began construction of its facility in Powell River in June 2017. In December 2017, the Company (SVT) raised a further $15M through a second brokered private placement.
The Company (SVT) expects to complete construction of its first facility in Powell River by late spring/early summer 2018 and to be awarded its first licence to produce (LP) cannabis by Health Canada in 2018.
The Company’s (SVT’s) first facility in Powell River occupies approximately 40,000 sq ft on 4-floors encompassing approximately 12,000 sq ft of indoor cultivation area. The Company (SVT) is currently negotiating plans to expand its Powell River site by 93,000 sq ft of purpose built, multi-level, indoor, cultivation facilities.