2016-10-18 - News Release
VP Close 2016-10-17 C$ 0.13
Mr. Ivan Miliovski reports
VODIS USA INC. COMPLETES PHASE TWO EXPANSION BUILD OUT
October 18, 2016 – Vancouver, British Columbia – Vodis Pharmaceuticals Inc. (CSE: VP / FSE: 1JV) ("Vodis" or the "Company") announces the completion of its Phase 2 expansion in their WA facility in Bellingham.
Vodis USA Inc., a fully owned subsidiary of Vodis Pharmaceuticals Inc., has completed the build out of Phase Two expansion in its Bellingham facility. The expansion consist of six more revenue generating rooms totaling 55% of the allowed Tier 2 - 10,000sq/f production canopy capacity for its first tenant. The entire production space has been outfitted with the latest lighting, air conditioning, and production equipment, as well as the latest in WSLCB compliant security equipment. The company’s tenant will be capable of producing over 1,000,000 grams of dried Cannabis from this capacity expansion per year.
The Company would also like to announce that Vodis USA Inc., has received the municipal operating permits for Phase Two and has passed all of the applicable Fire, Police & Electric inspections. Operation of the space from the tenant will commence pending inspection and approval by the Washington State Liquor and Cannabis Board which is anticipated to take place in the next couple of weeks.
President & CEO Ivan Miliovski states “we are extremely pleased with the completion of the Phase 2 expansion in our Bellingham facility and giving the ability for our tenant to expand its production and capture a bigger market share, while continuing to produce some of the highest quality of Cannabis products in Washington State”.
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 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 states in the United States.
While Vodis Pharmaceuticals 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:
Chief Executive Officer
Vodis Pharmaceuticals Inc.
8788 River Rd, Delta, V4G 1B4, Canada
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.
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.
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