Vancouver, BC / TheNewswire / SEPTEMBER 23, 2015‐ Vancouver, British Columbia – Vodis Pharmaceuticals Inc. (VP:CNX) (FSE: 1JV) ($VDQSF) (“Vodis Pharmaceuticals”) and its’ wholly-owned subsidiary, Vodis USA, Inc., a Washington corporation (“Vodis” or the “Company”) received written notice from its tenant, a Washington State company conducting a recreational marijuana production and processing business, that, in connection with the inspection and approval of the Vodis “turn key” production and processing facility, the tenant has received a license from the Washington State Liquor and Cannabis Board to begin its marijuana production and processing operations. The tenant, using the turn key indoor grow facility designed, engineered and built by Vodis, will start production immediately and expects its first sales four months from today.
Otto Folprecht, CEO and Director of Vodis Pharmaceuticals states, “This is a major milestone for our Company as we expand on our business model of bringing state-of-the art technology and capability to the design, engineering, build-out and operation of indoor marijuana production and processing facilities and prepare to offer other related value add services. We are also committed to further developing “turn key” facilities for other indoor marijuana production and processing companies. Now that our facility design and infrastructure has passed the requirements of the Liquor and Cannabis Board, we are in an excellent position to design, license and/or build similar turn-key facilities for other tenants and partners in the recreational marijuana industry. Finally, as we expand our capabilities at our current location and identify other strategic opportunities, we expect to deploy our facility design into other locations in Washington State and, eventually, across the United States”.
Once the tenant begins operation in the Vodis “turn key” facility, Vodis will help advise and consult with the tenant ensuring that the tenant produces a world class product. In addition, Vodis intends to provide other value add services, including helping establish a genetic “library” for future use and distribution by the tenant, yield maximization and quality control services, branding opportunities and distribution services.
In relation to the tenant receiving a recreational marijuana production and processing license from the Washington State Liquor and Cannabis Board, Vodis has initiated the tenant’s billing cycle for rendered services. Vodis also anticipates signing several contracts with the tenant that will result in Vodis providing advice on production and processing techniques, licensing the Vodis recognized brand name, assisting with the development and construction of a new genetics facility and distributing tenant’s products in Washington State.
About Vodis Pharmaceutics Inc.
Vodis is one of Canada’s foremost brand names in the medical marijuana business. 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.
For further information please contact:
Head of Corporate Communications
Vodis Pharmaceuticals Inc.
8788 River Road
Delta, BC V4G 1B5
Direct: 1-866-210-1420 ext. 110
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 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.
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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