Indigenous Bloom Corp. entered into a letter of intent to acquire Veritas Pharma Inc. (CNSX:VRT) for CAD 28 million in a reverse merger transaction on May 14, 2020. The consideration to be provided in common shares of Veritas. The parties agree to enter into and execute the Definitive Agreement by July 31, 2020. On September 4, 2020, Indigenous Bloom Corp. entered into an agreement to acquire Veritas Pharma Inc. Prior to closing Veritas Pharma will consolidate its common shares on a 1-for-2 basis. Upon combination of the businesses, Veritas agrees that its Board of Directors will include nominees from Indigenous Bloom. Upon completion of the amalgamation, Veritas will continue the business of Hempco and will be named "Indigenous Bloom Hemp Corporation". The new Board of Directors and management of Veritas after the completion of amalgamation is as follows; Peter McFadden, Interim Chief Executive Officer and Chief Financial Officer; Mark Roseborough, Chairman of the Board; Nick Standish, Director; Blair Lowther, Director; Sharon Blady, Director; Howard Ash, Director; and Greg Van Wyk, Director. Upon completion of the Amalgamation, Indigenous Bloom Shareholders will all become shareholders of Veritas. As of December 22, 2020, Veritas Pharma announced the resignation of Nick Standish. Closing will be subject to approval by the CSE, approval of Veritas shareholders, approval of the amalgamation by the shareholders of Hempco, the board of directors of Veritas shall include 2 nominees of Indigenous Bloom, and other customary closing conditions. As of April 29, 2021, Veritas Pharma Inc shareholders approved the acquisition of Indigenous Bloom Hemp Corporation by special resolution. The acquisition and share consolidation remain subject to acceptance for filing by the Canadian Securities Exchange. As of August 27, 2021, Veritas Pharma obtained the conditional approval of Canadian Securities Exchange and the transaction is expected to close on or before October 1, 2021. As of March 9, 2021, the transaction is expected to close on April 13, 2021. Harper Grey LLP acted as legal advisor to Veritas Pharma Inc.

Indigenous Bloom Corp. completed the acquisition of Veritas Pharma Inc. (CNSX:VRT) in a reverse merger transaction on September 24, 2021. As consideration, Veritas issued an aggregate of 62,221,972 common shares to Indigenous Bloom shareholders, being 3.1111 common shares for each Indigenous Bloom share. An aggregate of 20,601,874 common shares are held in escrow and will be released over a three year period.