Vancouver, British Columbia / TheNewswire / March 31, 2015 – Vodis Pharmaceuticals Inc. (the “Company” or “Vodis”) (VP:CNX) (FSE: 1JV) has closed the first tranche of a non-brokered private placement of $460,000(4,600,000 units) at a subscription price of 10 cents per unit. Each unit comprises one common share in the capital of the company. There is a four month hold period expiring July 31, 2015.
The following director of the Company participated in the private placement: Clive Boulton, Director for 100,000 units.
In connection with the financing, the company will pay to qualified recipients an Associated fees were 7% cash commission and 7% finders’ warrants, or $30,680 and 303,800 warrants. Finders’ warrants are exercisable at $0.25 per share for a period of two years.
The proceeds of the private placement will be used for working capital and for additional expansion opportunities in the US and European markets.
About Vodis Pharmaceuticals:
Vodis is one of Canada’s foremost brand names in the medical marijuana business. Its products have consistently won or placed at each competition we have entered. The company is well advanced in the MMPR application process to become a Licensed Producer at its state-of-the-art 12,000 square foot facility in Canada.
For further information please contact:
Head of Corporate Communications
104-1037 West Broadway
Vancouver, BC V6H 1E3
Direct: 1-866-210-1420 ext. 110
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 contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. All of the forward-looking statements made in this news release and any accompanying graphic links are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
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