Mr. Otto Folprecht reports
VODIS PRODUCTION AND PROCESSING FACILITY PASSES WASHINGTON STATE LIQUOR AND CANNABIS BOARD INSPECTION - TENANT TO BEGIN RECREATIONAL MARIJUANA BUSINESS OPERATIONS IMMEDIATELY.
Vodis Pharmaceuticals Inc. and its wholly owned subsidiary, Vodis USA Inc., a Washington corporation, received written notice from its tenant, a Washington state company conducting a recreational marijuana production and processing business, that, in connection with the inspection and approval of the Vodis turnkey production and processing facility, the tenant has received a licence from the Washington State Liquor and Cannabis Board to begin its marijuana production and processing operations. The tenant, using the turnkey indoor grow facility designed, engineered and built by Vodis, will start production immediately and expects its first sales four months from today.
Otto Folprecht, chief executive officer and director of Vodis Pharmaceuticals, stated: "This is a major milestone for our company as we expand on our business model of bringing state-of-the art technology and capability to the design, engineering, build-out and operation of indoor marijuana production and processing facilities and prepare to offer other related value-add services. We are also committed to further developing turnkey facilities for other indoor marijuana production and processing companies. Now that our facility design and infrastructure has passed the requirements of the liquor and cannabis board, we are in an excellent position to design, license and/or build similar turnkey facilities for other tenants and partners in the recreational marijuana industry. Finally, as we expand our capabilities at our current location and identify other strategic opportunities, we expect to deploy our facility design into other locations in Washington state and, eventually, across the United States."
Once the tenant begins operation in the Vodis turnkey facility, Vodis will help advise and consult with the tenant ensuring that the tenant produces a world-class product. In addition, Vodis intends to provide other value-add services, including helping establish a genetic library for future use and distribution by the tenant, yield maximization and quality control services, branding opportunities, and distribution services.
In relation to the tenant receiving a recreational marijuana production and processing licence from the Washington State Liquor and Cannabis Board, Vodis has initiated the tenant's billing cycle for rendered services. Vodis also anticipates signing several contracts with the tenant that will result in Vodis providing advice on production and processing techniques, licensing the Vodis recognized brand name, assisting with the development and construction of a new genetics facility and distributing tenant's products in Washington state.
We seek Safe Harbor.
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