Vancouver, BC, July 30, 2014 - Vodis Pharmaceuticals (CSE:VP)) is one of the latest new listing on the Canadian Securities Exchange, having previously traded as Southbridge Resources under the symbol SOU.
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Vodis Pharmaceuticals, through the purchase of Vodis Innovative Pharmaceuticals, which will become a wholly owned subsidiary, and another private BC numbered company, which was a marijuana producer under the previous Health Canada regulations, has made an application to Health Canada to become a Licensed Producer under the new Marijuana for Medical Purposes Regulation.
Vodis filed its MMPR in August of 2013 and in January of 2014 received a 'ready to build' letter from Health Canada, and is currently awaiting Health Canada's final inspection.
The company had been operating under the previous MMAR regulations at its 6-room, 12,000 square foot production facility. This was recently upgraded to eight rooms, consisting of between 40 and 50 lights per room.
To acquire the License and the Assets, Southbridge issued 36 million shares in addition to another 1,440,000 shares as a finder's fee. Subject to the issuance of the new License, for which there is no assurance, the company will pay $500,000 to the vendor.
Upon issuance of the license, the company will begin marketing and sales of its current product line, which consists of a number of types of marijuana and a number of packaging options, through its website. The company expects that it will take approximately 4 months to reach acceptable levels of production, sales and marketing, and has estimated production when fully operational under the MMPR license to be between 150 - 200 pounds of cannabis per month.
The shares are trading at $0.40 and with 48.6 million shares currently outstanding, the company is capitalized at $19.4 million. For more information, please visit the company's website www.vodis.ca (http://www.vodis.ca) or for investor inquires contact Otto Folprecht at 1-866-210-1420 or email otto@vodis.ca (mailto:otto@vodis.ca)
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