2016-11-08 0500 PT - News Release
VP Close 2016-11-08 C$ 0.13
Mr. Ivan Miliovski reports
VODIS PHARMACEUTICALS INC. ANNOUNCES $1,300,000 NON-BROKERED PRIVATE PLACEMENT
November 8, 2016 - Vancouver, British Columbia – Vodis Pharmaceuticals Inc. (the “Company” or “Vodis”) (CSE: VP / FSE: 1JV) announces a private placement of 20,006,000 units of the Company to various investors, including insiders, at a price of $0.065 per unit for total proceeds of $1,300,390. Each unit will consist of one common share and one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at a price of $0.08 at any time for two years from the closing date. The shares issued in connection of the private placement will have a hold period expiring four months and one day after the closing date.
The Company will not pay any finder’s fees in cash or securities in connection with the private placement.
Ivan Miliovski CEO and Director commented; “We are extremely pleased that the investor community continues to support the direction the Company has taken as we continue to invest in our Washington State assets to meet the expansion requirements of our tenants in a booming Washington State marijuana market.
The proceeds of the private placement will be used for expansion into Washington State, USA and general working capital purposes.
About Vodis Pharmaceutics Inc.
Vodis is one of North Americas 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 1B5
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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