VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 11/17/15 -- Vodis Pharmaceuticals Inc. (the "Company" or "Vodis") (CSE: VP)(FRANKFURT: 1JV) announces that the non-brokered private placement (the "Offering"), previously announced on November 2, 2015, of up to 7,500,000 common shares of the Company at a subscription price of $0.10 per common share for aggregate gross proceeds of $750,000 has been oversubscribed. Vodis announces that it is increasing the private placement by an additional 4,500,000 common shares for a total of 12,000,000 shares to raise up to $1,200,000.
Otto Folprecht CEO and Director commented, "The fact that the Offering was quickly filled and oversubscribed is a strong indication that the Vodis business model of bringing a state of the art turn-key production facility is in line with our investors' expectations."
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.
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.
Vodis Pharmaceuticals Inc.
Head of Corporate Communications
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