July 25, 2018, Vancouver, British Columbia – Vodis Pharmaceuticals Inc. (CSE:VP, FWB:1JV1) (“Vodis” or the “Company”) is pleased to report that the Company has entered the Confirmation of Readiness stage to become a licenced producer under the Access to Cannabis for Medical Purposes Regulations (ACMPR) at its Delta, BC facility. The Confirmation of Readiness stage is the final stage before obtaining a licence from Health Canada to cultivate cannabis under the ACMPR.
As previously announced, Vodis undertook upgrades to its Delta facility. These upgrades included the installation of specialized wall finishes in the production and processing areas, upgraded Ceramic Metal Halide and LED lighting, installation of Ample Organics software for seed-to-sale tracking, and upgrades to the internal physical security of the facility. The Company is completing these upgrades and plans to file a comprehensive Confirmation of Readiness evidence package with Health Canada in the coming weeks.
Vodis CEO, Ivan Miliovski, states: “This is an important milestone that gets us closer to obtaining a cultivation licence at our Delta facility. We are very excited about the path forward and creating the shareholder value that we set out to achieve.”
The passing of the Cannabis Act has dramatically expanded the Canadian cannabis market. While Vodis intends to sell into the various provincial recreational markets, the company remains committed to the many Canadians that have expressed interest in purchasing high-quality Vodis product for medical purposes. The Company encourages future patients to join our email mailing list at https://vodis.ca. The Company is also continuing its brand and future-patient outreach efforts at the Grow Up Cannabis Conference and Expo in Niagara Falls, Ontario on September 7-8, 2018.
About Vodis Pharmaceuticals Inc.
Vodis is one of North America’s foremost brand names in the medical and recreational marijuana business with operations in both the United States and Canada. Its master grow teams have consistently won or placed at each Canadian competition they have entered with their “VIP” brand. The Company, with facilities in British Columbia and Washington State, is also actively looking into expansion opportunities in other countries and throughout the United States.
While Vodis and its subsidiaries cannot have any interest whatsoever in any proceeds as a result of production, processing or retail activities in the United States, it can license its brand, production and consulting services to approved Washington State licence holders to ensure that all products produced under the Vodis Pharmaceuticals program and/or associated under the VIP brand meet or exceed Vodis-brand quality standards.
For further information please contact:
Ivan Miliovski, Chief Executive Officer
Vodis Pharmaceuticals Inc.
Vodis Pharmaceuticals Inc.
8788 River Road
Delta, BC V4G 1B4
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 includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"), including, but not limited to, statements with respect to the potential granting of a cultivation licence by Health Canada, planned expenditures for renovations at the Company’s Delta, BC, facility, full utilization of the Bellingham, WA, facility, and the ability to operate profitably. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
- Page 1 of 72