Mr. Richard Schnoor reports

VODIS PHARMACEUTICALS INC. CLOSES NON-BROKERED PRIVATE PLACEMENT

Vodis Pharmaceuticals Inc. has closed a previously announced non-brokered private placement. The private placement was oversubscribed by 969,200 units for a total of 3,469,200 units at the subscription price of 10 cents per unit for gross proceeds of $346,920.

Each unit consists of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at a price of 15 cents until Sept. 15, 2017. If at any time after Jan. 16, 2016, the company's shares have traded for 10 consecutive trading days above $1, Vodis may give an expiry acceleration notice to the holders of warrants and, if it does so, the warrants will, unless exercised, expire on the 30th day after the expiry acceleration notice is given.

Otto Folprecht, chief executive officer and director, commented, "The fact that the offering was quickly filled and oversubscribed is a strong indication that the Vodis business model of bringing a state of the art turn-key production facility is in line with our investors' expectations."

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

We seek Safe Harbor.