On December 8, 2022, the Majority Stockholder of the Veritas Farms, Inc. delivered to the Company a stockholder action by written consent removing Kellie Newton, Craig Fabel, and Kristen High from the Company's board of directors (“Board”), without cause, effective immediately, and elected Gary A. Shangold as a member of the Board, effective immediately. Dr. Shangold will join Thomas E. Vickers and Kuno van der Post, each an incumbent director, in comprising the Board. Mr. Vickers is Chairman of the Board and Interim Chief Executive Officer of the Company, and Dr. van der Post is an independent director on the Board.

Dr. Shangold, age 69, has been the Chief Medical Officer of Enteris BioPharma, a subsidiary of SWK Holdings, since January 2020. He is the Founder and Chief Executive Officer of InteguRx Therapeutics LLC, a startup developing transdermal products, since May 2011, and the President and Managing Member of Convivotech LLC, a life sciences consultancy, since December 2005. Previously, from January 2008 to December 2010, Dr Shangold was the Chief Medical Officer and Executive Vice President, Research & Development at Xanodyne Pharmaceuticals Inc, a venture-backed pharma company.

From December 2002 to December 2005, Dr Shangold was President, Chief Executive Officer, and a Director of NovaDel Pharma, a publicly-traded specialty pharma company. Earlier, he held several senior roles in Clinical Research and Regulatory Affairs over more than 10 years at Johnson & Johnson Pharmaceutical R&D, and prior to that he was Medical Director for Ob/Gyn/Infertility at Serono Laboratories US. In his pharma career, Dr. Shangold has had key roles in the development and/or approval of 10 products.

Before entering the pharmaceutical industry, Dr. Shangold began his career in academia, on the Faculty of The University of Chicago Pritzker School of Medicine, and later at Massachusetts General Hospital/Harvard School of Medicine. Since 2019, Dr. Shangold has been a Trustee of the Somerset Health Care Foundation, the fund-raising arm of RW Johnson – Somerset Hospital, part of the RWJ-Barnabas network in NJ. Dr. Shangold served on the Board of Directors of OmniComm Systems Inc. from July 2014 until September 2019 when the company was acquired by Anju Software Inc., and on the Board of Directors of Pepgen Inc, a venture-backed biotech company, from December 2004 through June 2009.

He has been President of the American Academy of Pharmaceutical Physicians (2005), and Chair of the Association of Clinical Research Professionals (2013), a 14,000-member nonprofit dedicated to excellence and professionalism in clinical research globally. Dr. Shangold received his MD degree from Columbia University in June 1977 and his Bachelor of Arts degree from the University of Pennsylvania in May 1973. Dr. Shangold performed his residency in Obstetrics & Gynecology at the University of Miami/Jackson Memorial Hospital from June 1977 to June 1981 and his fellowship in Reproductive Endocrinology in the Department of Obstetrics & Gynecology at the University of Southern California/Los Angeles County Medical Center from July 1981 to June 1983.

Dr. Shangold holds Board Certifications in Obstetrics & Gynecology and in Reproductive Endocrinology, and is the author of numerous clinical and basic science publications. Dr. Shangold will be appointed to the Audit Committee and the Nominating and Corporate Governance Committee.