Vodis Pharmaceuticals Inc. (CSE:VP,FSE:1JV1) (“Vodis” or the “Company”) provides an update on operations in Canada and the United States. Since the fall of 2017, the Company’s Canadian operations have met the challenges of working capital requirements while it navigated the Health Canada licensing approval process.

Vodis is pleased to report that all key personnel being the ‘Senior Person in Charge’, the ‘Responsible Person in Charge’, the ‘Alternate Responsible Person in Charge’ have now passed regulatory security clearance. Under the Access to Cannabis for Medical Purposes Regulations (ACMPR), key personnel ‘in charge’ must receive security clearance before a cultivation licence can be granted by Health Canada. Upon receiving confirmation of the security clearances, the Company responded to a comprehensive questionnaire from Health Canada on its standard operating procedures and detailed physical security protocols.


Beyond the Health Canada requirements and in advance of the Licence, the Company has identified upgrades, which will make significant improvements to yields and quality once operations commence, for its Delta, BC, facility. These renovations include the installation of specialized wall finishes in the production and processing areas. Vodis has installed a similar system in its Bellingham, WA, facility and results have exceeded expectations. The Company is modelling its lighting on a proven combination of Ceramic Metal Halide and LED lights – which routinely yield crops in excess of 30% total cannabinoid content at its Bellingham, WA, facility. The increased efficiency and increased crop yield from these lights have demonstrated a six-month payback period based from the experience in Bellingham. The Company expects these upgrades to be completed by mid-April. The Company will, thereafter, promptly file its Confirmation of Readiness with Health Canada, and is confident in its ability to secure a cultivation licence.

Vodis intends to serve both the medical and future recreational markets. The Company will begin its customer outreach efforts in May 2018 at the Lift Cannabis Expo in Toronto, Ontario. Interested customers are encouraged to sign up for updates on the Company’s website, vodis.ca. The Company is also in the process of updating its web presence in anticipation of increased consumer traffic.

The Company is pleased to report that its facility in Bellingham, WA, has received authorization from the Washington State Liquor and Cannabis Board to utilize 100% of the facility. This will allow the Company’s tenant, Premium Cannabis Producers LLC (PCP), to utilize the full 10,000 square foot canopy that their Tier 2 licence allows. The Company expects to realize significantly increased revenue from its relationship with PCP in the upcoming fiscal year. PCP provides regular updates on its crops and activities in Washington State via the @vodisusa social media handle.

Vodis CEO, Ivan Miliovski states, “The Company has faced many challenges in the past year. We appreciate the continued support our investors have shown while the Company strives for the next level. The Company and its founding team are committed to providing Canadians with extremely high-quality cannabis. We also remain committed to our Vodis USA strategy and plan to expand aggressively as both businesses become cash-flow positive.”

Shares for Debt Settlement

The Company also announces it has entered into a debt settlement agreement with an arm’s length party to settle a debt totalling $25,000 with the issuance of 66,000 common shares (the “Debt Settlement Shares”), based on a deemed value of $0.3788 per common share.

The Debt Settlement Shares shall be subject to a statutory hold period of four months, in accordance with applicable Canadian securities legislation.

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 Canadian competition they have entered with their “VIP” brand. The Company, with facilities in British Columbia and Washington State, is also actively looking into expansion opportunities in other countries and throughout the United 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 licence holders to ensure that all products produced under the Vodis Pharmaceuticals program and/or associated under the VIP brand meet or exceed Vodis-brand quality standards.

For further information please contact:

Ivan Miliovski, Chief Executive Officer

Vodis Pharmaceuticals Inc.

1-866-210-1420 Ext103

-or-

Soy Garipoglu

Investor Relations

Vodis Pharmaceuticals Inc.

8788 River Road

Delta, BC V4G 1B4

Contact: 778-990-8985

Email: investorrelations@vodis.ca

Web: www.vodis.ca

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.

This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”), including, but not limited to, statements with respect to the potential granting of a cultivation licence by Health Canada, planned expenditures for renovations at the Company’s Delta, BC, facility, full utilization of the Bellingham, WA, facility, and the ability to operate profitably. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Click here to connect with Vodis Pharmaceuticals Inc. and receive an Investor’s Presentation. 

Source: www.thenewswire.com

For the purposes of the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules, World High Life announces that the Company has 230,119,819 ordinary shares of 1p each in issue (“Ordinary Shares”), each share carrying the right to one vote. The figure of 230,119,819 should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules

The Directors of the Company accept responsibility for the contents of this announcement.

Keep reading... Show less

TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or the “Company”) announces that it has granted an aggregate of 400,000 options at an exercise price of CDN$1.00, exercisable for a period of five years, to directors and officers of the Company. The stock options are being granted pursuant to the terms of the Company’s stock option plan, and are subject to regulatory approval.

About TransCanna Holdings Inc.

Keep reading... Show less

Donation will benefit veteran-focused organizations and nonprofits, including all TruVet Program partners

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a United States -based leading medical cannabis company, announced today a donation for all TruVet Program partners year-to-date in honor of Veterans Day. A total of $15,000 representing a portion of the November proceeds from the Company’s limited-edition Freedom Pre-Roll product, will be shared among program partners, which are veteran-focused organizations andor nonprofits.

Keep reading... Show less

Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Aurora Cannibas, Inc. (“Aurora” or the “Company”) (NYSE:ACB) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Aurora securities between February 13, 2020, and September 4, 2020, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.comacb

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

Keep reading... Show less

Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Aurora Cannibas, Inc. (“Aurora” or the “Company”) (NYSE:ACB) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Aurora securities between February 13, 2020, and September 4, 2020, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.comacb

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

Keep reading... Show less