VANCOUVER, BC, December 29, 2016 – INVICTUS MD STRATEGIES CORP. (“Invictus MD” or the “Company”) (CSE: IMH; OTC: IVITF; FRA: 8IS) is pleased to announce that it has closed the acquisition of 33.33% of the shares of AB Laboratories Inc. and the initial acquisition of shares of AB Ventures Inc., as previously announced on December 23, 2016.
Dan Kriznic, CEO of Invictus MD, commented, “This investment in AB Laboratories Inc. and AB Ventures Inc. solidifies Invictus MD as a major player on the forefront of the cannabis industry.”
AB Laboratories Inc. is licensed for cultivation under the ACMPR and maintains a 16,000 square foot facility located in Hamilton, Ontario. The Company paid CAD$5,000,000 and issued 2.4 million common shares to the vendor at closing, with a further CAD$2,000,000 in cash due in 90 days.
AB Ventures Inc. is a newly incorporated company that plans to acquire and develop 100 acres in Hamilton, Ontario for cannabis cultivation and sale under the ACMPR. Invictus MD has committed $7.5 million to fund the costs of licensing approval under the ACMPR, acquiring land and constructing the cultivation facility, in exchange for a 33.33% interest in AB Ventures. The Company advanced an initial $2 million at closing into escrow to be deployed primarily for the purchase of the land.
About Invictus MD Strategies Corp.
Invictus MD targets cannabis companies with proven brands, strong customer focus, and significant growth potential. We provide not only capital to meet these objectives but also years of management experience from a team that has been successful in all facets of business, from establishing start-ups to running large international organizations. The fundamental core of our operations centers on the vast opportunities within fragmented industries.
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
Larry A Heinzlmeir
Vice President, Marketing & Communications
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 plans and objectives, 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 AB Ventures will acquire land sufficient to build a cultivation facility and such facility will be successfully built and that all other required governmental approvals to produce and sell marijuana under the ACMPR will be obtained by AB Ventures. These forward-looking statements 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, that the acquisition of shares may otherwise not occur as planned, the risk that AB Ventures will not: acquire land sufficient to successfully build a cultivation facility or obtain a license or any other approvals required to produce and sell marijuana under the ACMPR. 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.
For the original press release, click here.