Vodis Pharmaceuticals Inc. Closes First Tranche of $217,000 of Non-Brokered Financing
November 09 2015 - 8:54AM
Vodis Pharmaceuticals Inc. / Vodis Pharmaceuticals Inc. Closes
First Tranche of $217,000 of Non-Brokered Financing . Processed and
transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely
responsible for the content of this announcement.
VANCOUVER, British Columbia, Nov. 9, 2015 (GLOBE
NEWSWIRE) -- Vodis Pharmaceuticals Inc. (the "Company" or "Vodis")
(CSE:VP) (FSE:1JV) announces the closing of the first tranche of
the previously announced non-brokered private placement of
$750,000. The first tranche consists of a total of 2,170,000 shares
of the company's stock at the subscription price of $0.10 per
common share for gross proceeds of $217,000 (the "Offering"). The
shares have a four month and one day hold period expiring on March
6, 2016.
In connection with the Offering, the Company paid
finders' fee of 10% cash and 10% finders' warrants for a total of
$21,700 and issued 217,000 non-transferable share purchase warrants
("Finders' Warrants") to Canaccord Genuity Corp. Each Finders'
Warrants entitles the holder to purchase one additional common
share of the Company at an exercise price of $0.10 for a two year
period, expiring on November 6, 2017.
The proceeds of the private placement will be used
for expansion of its' facilities in Washington State, USA and
general working capital purposes.
About Vodis Pharmaceuticals
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 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.
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.
Forward-Looking Information:
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 the Offering, the receipt of all necessary regulatory
approvals. 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.
CONTACT: For further information please contact:
Richard Schnoor
Head of Corporate Communications
Vodis Pharmaceuticals Inc.
8788 River Road
Delta, BC V4G 1B5
Direct: 1-866-210-1420 ext. 110
Web: www.vodis.ca
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Vodis Pharmaceuticals Inc. via Globenewswire
HUG#1965508