Mr. Brian Gusko reports

VODIS PHARMACEUTICALS INC. ANNOUNCES CLOSING OF INITIAL TRANCHE TOTALING $685,000 OF $1.5 MM NON-BROKERED FINANCING

Vodis Pharmaceuticals Inc. has closed the first tranche of its previously announced non-brokered private placement in the amount of $685,000 (see news release dated Aug. 18, 2014).

In conjunction with the closing of the first tranche, the company will issue an aggregate of 1,712,500 units, at a subscription price of 40 cents per unit, for gross proceeds of $685,000. Each unit consts of one common share of Vodis Pharmaceuticals and one-half of one common share purchase warrant where each whole warrant entitles the holder to purchase one additional common share at an exercise price of 80 cents per warrant share for a period of two years following the date of issuance of the warrant. The warrants are subject to an accelerated expiry provision, where, if at any time after the closing date of the offering of the units, the closing price of the common shares is $1 or higher for a period of 10 consecutive trading days.

Vodis Pharmaceuticals plans to use the net proceeds of this first tranche to make final preparations at its Canadian Delta facility for an inspection from Health Canada, for expansion opportunities as well as general working capital.

The company also announces that it intends to pay $80,000 for services rendered through the issuance of 200,000 common shares at a price of 40 cents per common share. The common shares issued in connection with this transaction will be subject to a four-month hold period.

We seek Safe Harbor.