Mr. Otto Folprecht reports

VODIS PHARMACEUTICALS INC. CLOSES FINAL TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Vodis Pharmaceuticals Inc. has closed the third and final tranche of its previously announced non-brokered private placement of up to 12 million shares by issuing 4.01 million common shares at a price of 10 cents for gross proceeds of $401,000. The shares issued in the final tranche have a four-month-and-one-day hold period expiring on April 18, 2016.

In the first and second tranches, the company issued 2.17 million common shares on Nov. 6, 2015, for gross proceeds of $217,000 and 4,925,000 common shares on Nov. 20, 2015, for gross proceeds of $492,500, which together with the final tranche raised total gross proceeds of $1,110,500. The total number of shares issued in the private placement was 11,105,000.

In connection with the final tranche, the company paid finders' fee of 10-per-cent cash and 10-per-cent finders' warrants for a total of $32,600 and 326,000 non-transferable share purchase warrants to Canaccord Genuity Corp., Wolverton Securities Ltd. and a third party. Each finder's warrant entitles the holder to purchase one common share of the company at an exercise price of 10 cents for a two-year period, expiring on Dec. 17, 2017.

Otto Folprecht chief executive officer and director, commented: "We are extremely pleased that the investor community continues to support the direction the company has taken as we continue to invest in our Washington State assets to meet the expansion requirements of our tenants in a booming Washington State marijuana market.

"The fact that the private placement was quickly filled and oversubscribed is a strong indication that the Vodis business model of bringing a state-of-the-art turnkey production facility is in line with our investors' expectations."

The proceeds of the private placement will be used for expansion into Washington State and general working capital purposes.

We seek Safe Harbor.