Mr. Ivan Miliovski reports

VODIS ANNOUNCES DEBT SETTLEMENT

Vodis Pharmaceuticals Inc. has agreed to settle a total of $858,650 in outstanding debt owed to various creditors and lenders for expenses and costs incurred to sustain the company's operations and development.

The debt will be settled by the issuance of a total of 13.21 million units of the company at a deemed value of 6.5 cents per unit. Each unit will be composed of one common share and one share purchase warrant. Each warrant will be exercisable at a price of eight cents for two years from the date of issuance.

Additionally in consideration for a loan provided by a non-insider of the company and under the terms of the loan agreement, Vodis will issue an additional 600,000 common shares of the company at a deemed price of 6.5 cents per share. All shares will be subject to a hold period of four months and a day from the date of closing.

We seek Safe Harbor.