2016-11-09 0445 PST - News Release
VP Close 2016-11-09 C$ 0.125
Mr. Ivan Miliovski reports
VODIS PHARMACEUTICALS INC. CLOSES $1,300,390 NON-BROKERED PRIVATE PLACEMENT
November 9, 2016 - Vancouver, British Columbia – Vodis Pharmaceuticals Inc. (the “Company” or “Vodis”) (CSE: VP / FSE: 1JV) is pleased to announce the closing of a private placement of 20,006,000 units of the Company at a price of $0.065 for total gross proceeds of $1,300,390. Each unit is comprised of one common share and one share purchase warrant exercisable for two years from the date of closing. The shares issued in connection with the private placement have a four month and one day hold period expiring on March 9, 2017. In connection with the financing, the Company did not pay any finder’s fees.
Mr. Ivan Miliovski, CEO and Director, commented: "The fact that the private placement was quickly filled is a strong indication that the Vodis business model of bringing a state-of-the-art turn-key production facilities in the USA is in line with our investors’ expectations. As well as, the timing on the financing could not be better, with California and six other states passing recreational and medical cannabis initiatives, the stage is set for a much larger US market where Vodis can build on its brand and continue to bring shareholder value”.
The proceeds of the private placement will be used for further expansion into Washington State, USA and general working capital purposes.
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 US and Canada. It’s 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 throughout the United States.
While Vodis and it’s 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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