ORIGINAL: Investor Update
2018-06-07 09:01 ET - News Release
(via TheNewswire)
June 7, 201 8 / TheNewswire / Vancouver, British Columbia - Vodis Pharmaceuticals Inc. (CSE: VP, FWB: 1JV1) (" Vodis " or the " Company ") provides an update on operations in Canada and the United States.
Following the investor update on March 21, 2018, the Company received a subsequent questionnaire from Health Canada on its physical security and operational plan. The Company promptly filed a response and has not received further correspondence from Health Canada. In addition, the Company has deployed Ample Organics to manage many of the record keeping requirements of the Access to Cannabis for Medical Purposes Regulation (ACMPR), has completed nearly all of the previously announced upgrades to the Delta, BC, facility, and is making additional upgrades to the physical security of the facility. Upon completion of the additional upgrades, the Company will promptly file its Confirmation of Readiness with Health Canada and remains confident in its ability to secure a cultivation licence.
The Company's tenant, Premium Cannabis Producers LLC ("PCP"), in Bellingham, WA, has completed its first crop in the, previously announced, renovated and licenced portion of the Bellingham facility. Through rigorous environmental and contamination controls, the newly upgraded facility allows PCP to produce fully 'veganic' cannabis (no pesticides or animal-based products used). The newly renovated facility is also producing record crop yields: on average of 1.57 g/Watt, and as much as 1.72 kg/light for some strains.
Vodis CEO, Ivan Miliovski, states, "We are extremely pleased with the quality of PCP's first 100% veganic crop in the newly renovated portion of the facility. Using Vodis standard operating procedures and methodologies, PCP is already producing among the highest quality product available for sale anywhere. We are excited to bring equally high-quality, chemical-free premium cannabis to the Canadian market."
Premium cannabis carrying the Vodis USA brand is available for purchase throughout northern Washington State at I-502 licenced retailers. PCP provides regular updates on its crops and activities in Washington State via the @vodisusa social media handle.
The Company is also pleased to report that its debut at the Lift & Co Cannabis Expo in Toronto was a success. The Company used the opportunity to introduce the Vodis brand to future patients and recreational consumers, and to update the investment community on its facility in Delta, BC, and late-stage application status to cultivate cannabis under the ACMPR. The Company highlighted its turnkey operation in Bellingham, WA, the Vodis USA brand, and its 'veganic' growing methodology that the Company plans to implement in Canada. In anticipation of stringent advertising restrictions imposed by the forthcoming Cannabis Act, the Company plans to have a presence at all future, major Canadian cannabis events.
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.
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