Vancouver, BC, December 7, 2016 – INVICTUS MD STRATEGIES CORP. (“Invictus MD” or the “Company”) (CSE: IMH; OTC: IVITF; FRA: 8IS) is pleased to announce it has entered into a binding Letter of Intent to acquire a Tier 2 State of Washington Cultivation and Processing License (”The Operation”).
Invictus MD will pay $1,000,000 USD cash by way of a convertible debenture to Cannera Equipment Leasing (“CEL”). CEL has committed up to $1,000,000 USD by way of equipment financing and tenant upgrades to the Licensed facility which is currently in final stages of construction, and will have the capacity to produce 2,500kg annually.
Upon final licensing approval by the Washington State Liquor and Cannabis Board (“WLCB”), Invictus MD will pay $2,000,000 USD and issue 800,000 shares with a maximum value of $2,000,000 USD to CEL to secure its option to execute, assign or transfer 20% equity. The operation has a strategic partnership with a renowned genetics and extracts brand located in California, with an established foothold in the California, Nevada and Washington market.
The details of the Binding Letter of Intent will also grant Invictus MD the Right of First Refusal on; all future capital raises, any shares offered for sale, and listing on any publicly traded exchange.
Dan Kriznic, CEO commented “This is yet another strategic acquisition for Invictus MD. The operations team has an established foothold within the California, Washington and Nevada markets. With this placeholder acquisition, Invictus MD will
be well positioned to establish and execute operations in Washington and continue to build Future Harvest’s brand through its i502 partners.”
About Invictus MD Strategies Corp.
Invictus MD targets cannabis companies with proven brands, strong customer focus, and significant growth potential. We not only provide capital to meet these objectives but also years of management experience from a team that has been successful in all facets of business from start-ups to running large international organizations. The fundamental core of our operations is centered on the vast opportunities within fragmented industries in the cannabis space.
Invictus MD works in partnership with management teams to increase shareholder value through business planning and process integration, developing and executing growth strategies, leveraging our experience and relationships, and structuring and deploying the proper capital to support long-term growth. Our prudent approach to both investing in and developing successful companies ensures successful execution of the business plan in both times of economic expansion and contraction.
For more information please visit www.invictus-md.com.
On Behalf of the Board,
Chairman & CEO
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, including the timing and completion of the proposed spin-out of Future Harvest, are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including the assumptions that the proposed spin-out of Future Harvest will occur as anticipated, that the Company will obtain all requisite approvals of the spin-out transaction, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, the risk that the proposed spin-out may not occur as planned; the timing and receipt requisite approvals. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbour.
To view the original press release, click here.