2015-04-21 05:00 PT - News Release
VP Close 2015-04-20 C$ 0.33
Mr. Otto Folprecht reports
VODIS SIGNS AGREEMENT WITH WASHINGTON STATE MARIJUANA TIER 2 TENANT
April 21, 2015- Vancouver, British Columbia – Vodis Pharmaceuticals Inc. (CSE: VP / FSE: 1JV /Q:VDQSF) is pleased to announce its’ subsidiary, Vodis USA, has signed a sublease agreement and we are moving forward with the development of a Tier 2 Marijuana Production and Processing facility as required by the state law and governed by the Washington State Liquor Board (WSLB) The Vodis facility is expected to be retrofitted to the Vodis production standards within the next 12 weeks and production to begin thereafter..
Vodis will be responsible to retrofit the previously announced lease-to-own facility in Bellingham, Washington to include a turnkey solution for the I-502 production and processing licence to begin marijuana production. That turnkey solution will include state of the art lighting, cooling, security and environmental controls. Vodis is also identifying vertical growing techniques, which would allow the company to further increase the production yields. Additionally, Vodis will also provide the licensee, on a licence basis, access to its Quality Assurance Program (QAP), Good Manufacturing Practices (GMP), Generally Accepted Agricultural Practices (GAAP) and extend the Vodis expertise and production services. Furthermore, Vodis will licence the Tier 2 licence holder to distribute products under the Vodis Pharmaceuticals recognized brand name “VIP”.
Otto Folprecht CEO and Director states, “This is a significant milestone for the company in establishing “VIP” as an internationally recognized brand in the marijuana production and services industry”.
According to the National Survey on Drug Use and Health (NSDUH) it is estimated that in Washington State up to 12% in the age group 21 and over, consumes marijuana for medical or recreational use. The last census in 2014 reported that the Washington State population was 7,062,000.
While Vodis Pharmaceuticals and its subsidiaries cannot have any interest in any proceeds as a result of production, processing or retail activities in the United States, it can licence its brand, production and consulting services to approved Washington State marijuana licence holders to ensure that all products produced under the Vodis Pharmaceuticals program and/or associated under the VIP brand meet or exceed the Vodis brand quality standards.
Also, Vodis Pharmaceuticals has a “Ready to Build” letter issued by Health Canada and is waiting for the final building inspection date from Health Canada to initiate the next step in the licencing of its Delta BC medical marijuana production facility.
For further information please contact:
Head of Corporate Communications
Vodis Pharmaceuticals Inc.
8788 River Road
Delta, BC V4G 1B5
Direct: 1-866-210-1420 ext. 110
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. All of the forward-looking statements made in this news release and any accompanying graphic links are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
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