2016-12-16 1030 PST - News Release
Mr. Ivan Miliovski reports
VODIS PHARMACEUTICALS INC. RE-ANNOUNCES CONSOLIDATION OF SHARE CAPITAL
December 16, 2016 - Vancouver, British Columbia – Vodis Pharmaceuticals Inc. (the
“Company” or “Vodis”) (CSE: VP / FSE: 1JV) is pleased to announce that the Company intends to proceed immediately with the consolidation of its share capital on a four old for one new basis (the “Consolidation”). The consolidation will result in the number of issued and outstanding common shares of the Company being reduced from 113,842,580 common shares to 28,460,645 common shares. Outstanding stock options and share purchase warrants will also be adjusted by the equivalent consolidation ratio and the respective exercise prices adjusted accordingly. This Company will retain its current name and stock symbol.
This consolidation was initially announced on December 7, 2016 with an anticipated effective date of December 14, 2016. The anticipated effective date for this share consolidation will now be December 21, 2016. Letters of transmittal will be mailed out to shareholders on December 16, 2016.
About Vodis Pharmaceutics Inc.
Vodis is one of North America’s foremost brand names in the medical and recreational marijuana business with operations in both the US 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 BC and Washington State, is also actively looking into expansion opportunities in other countries and US 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 license 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.
For further information please contact:
President & CEO
Vodis Pharmaceuticals Inc.
8788 River Road
Delta, BC V4G 1B4
Direct: 1-866-210-1420 ext. 103
Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects” or “it is expected”, or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the use of proceeds of this financing. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not
undertake to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.
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.
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