On May 11, 2021 (the "Effective Date"), Veritas Farms, Inc. entered into a Securities Purchase Agreement (the "SPA") with The Cornelis F. Wit Revocable Living Trust. In accordance with the terms of the SPA, on the Effective Date Dr. Bao T. Doan and Marc J. Horowitz stepped
down from the board of directors. Mr. Stephen E. Johnson was appointed as and President of the Company, and Ramon Pino, was appointed as Executive Vice President of Finance, Treasurer and Secretary of the Company. Prior to joining the Company, since November 2019, Mr. Johnson is a member of New World Angels. Prior to joining the Company, from October 2019 to January 2021, Mr. Pino was Vice President and Controller of Anju Software, Inc. Thomas E. Vickers, a director of the Company since October 2020, and Kellie Newton, a director of the Company since April 2019, continue to serve as members of the board of directors. In addition, as of the Effective Date, Thomas E. Vickers, will be elected Chairman of the Board of Directors.
Veritas Farms, Inc. (Veritas Farms) is an agribusiness that is focused on growing, producing, marketing, and distributing quality, whole plant, full spectrum hemp oils and extracts containing naturally occurring phytocannabinoids (collectively, CBD). Veritas Farms owns and operates an approximately 140 acres farm in Pueblo, Colorado, capable of producing over 200,000 proprietary full spectrum hemp plants, which can potentially yield a minimum annual harvest of 250,000 to 300,000 pounds of outdoor-grown industrial hemp. Veritas Farm's products include capsules, gummies, tinctures, lotions, salves, creams, balm sticks, lip balms, and pet chews. It also operates approximately 15,000 square feet of climate-controlled greenhouses to produce a consistent supply of year-round indoor-cultivated hemp. In addition, there is a 10,000 square-foot onsite facility used for processing raw hemp, oil extraction, formulation laboratories, and quality/purity testing.
VERITAS FARMS, INC. 
