Mr. Richard Schnoor reports

VODIS PHARMACEUTICALS INC. CLOSES FIRST TRANCHE OF $217,000 OF NON-BROKERED FINANCING

Vodis Pharmaceuticals Inc. has closed the first tranche of the previously announced non-brokered private placement of $750,000. The first tranche consists of a total of 2.17 million shares of the company's stock at the subscription price of 10 cents per common share for gross proceeds of $217,000. The shares have a four-month-and-one-day hold period expiring on March 6, 2016.

In connection with the offering, the company paid finders' fee of 10 per cent cash and 10 per cent finder warrants for a total of $21,700 and issued 217,000 non-transferable share purchase warrants to Canaccord Genuity Corp. Each finder warrant entitles the holder to purchase one additional common share of the company at an exercise price of 10 cents for a two-year period, expiring on Nov. 6, 2017.

The proceeds of the private placement will be used for expansion of its facilities in Washington, United States, and general working capital purposes.

We seek Safe Harbor.