Vodis Pharmaceuticals Inc. (CSE:VP / FSE: 1JV1) (“Vodis” or the “Company”) is pleased to announce it has closed a non-brokered private placement of 4,000,000 units (each, a “Unit”) of the Company at a price of $0.40 for total gross proceeds of $1,600,000. Each Unit will comprise one common share and one transferable full share purchase warrant for two years from the date of issuance. In connection with this financing, the Company will not be paying any finders’ fees.
The majority of the proceeds of this private placement will be used to complete the final expansion of the Company’s facility in Bellingham, Washington, as announced on March 23, 2017.
In addition, Vodis announces it will be settling debt in an aggregate amount of $80,000 in exchange for the issuance of 200,000 common shares to related-party creditors. The debt settlements are based on a deemed price of $0.40 per common share.
The closing of the private placement and settlement of debt transactions remain subject to all requisite regulatory approvals. All securities to be issued in connection with the private placement and debt settlements will bear a four-month and one day hold period expiring August 19, 2017.
Ivan Miliovski, co-founder, Chief Executive Officer and Director of Vodis, commented, “This capital will accelerate the build out of our Tier 2 facility in Washington State, and allow our tenant to fully utilize their Tier 2 production license. This capital also serves as an endorsement of the Vodis model. As a Canadian company, the legal and operational challenges in establishing the Bellingham pilot project were enormous. Overcoming these challenges, while maximizing shareholder value, gives Vodis a competitive advantage as the Company begins to replicate and scale the business model and accelerate growth into the US market.”
Miliovski continues, “While the Company remains committed to the Canadian medicinal and future recreational market, we are proud to see world class, premium product carrying the Vodis USA logo on sale throughout Washington State.”
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 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 states in the United States.
While Vodis Pharmaceuticals 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.
Ivan Miliovski, CEO
Vodis Pharmaceuticals Inc.
For further information please contact:
Vodis Pharmaceuticals Inc.
8788 River Road
Delta, B.C. V4G 1B4
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 this financing. 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.
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.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).
Canopy Growth to Participate in BofA Securities Virtual Consumer & Retail Technology Conference on March 11, 2021
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) (“Canopy Growth” or “the Corporation”) announced today that EVP & CFO Mike Lee will be participating in a fireside chat at the BofA Securities Virtual Consumer & Retail Technology Conference on Thursday, March 11, 2021 at 9:30am ET .
Hill Street Beverage Company Inc. (TSXV: BEER) (“Hill Street” or the “Company”). The Company announces that further to its press release dated March 2, 2021, it has obtained TSX Venture Exchange approval to extend the closing date of its previously announced private placement of units (“Units”) until April 7, 2021. Each Unit is comprised of one (1) common share and one (1) warrant, exercisable for one common share at price of $0.11 per share, for a period of three (3) years from the date of Closing. The Company applied to extend the date of closing to allow a greater number of interested investors to participate.
For more information regarding the Company or the offering, please contact email@example.com, or