VANCOUVER, Jan. 21, 2019 /CNW/ - INVICTUS MD
STRATEGIES CORP. ("Invictus" or the "Company") (TSXV: GENE; OTCQX:
IVITF; FRA: 8IS1) announced today an update to its
intention to proceed with a consolidation of its issued and
outstanding shares with a newly proposed reduced share
consolidation ratio of one new share for every five old shares
(1:5) in connection with its proposed listing on Nasdaq Stock
Market LLC ("Nasdaq"). The proposed reduced share consolidation
ratio replaces the original consideration on the basis of one new
share for seven old shares (1:7) (see press release dated
January 17, 2019).
The purpose of the consolidation is to increase the Company's
common share price to be in compliance with Nasdaq's minimum share
price listing requirement of USD $3.00 (CAD $3.98).
Management believes this reduced ratio is sufficient to achieve
Nasdaq's minimum threshold. At Friday's closing share price of
CAD 1.06 (USD
0.80) on January 18, 2019, a
5:1 consolidation represents a new Company share valued at
CAD 5.30 (US 3.99).
Most importantly, while investors will hold fewer Invictus
shares after the consolidation, each shareholder's total invested
value, percentage ownership in the Company and proportional voting
power will remain unchanged.
The United States represents
the deepest pool of investor capital in the world with Nasdaq
featuring heavily. Invictus' intended participation on the Nasdaq
represents a move to increase its global visibility and liquidity,
and for inclusion into indices which are tracked by buy-side
institutions like the Standard & Poor's and Russell
indexes.
In addition to the intended Nasdaq listing, Invictus' shares
will continue to trade on the TSX Venture Exchange under the ticker
symbol "GENE", and on the Frankfurt Stock Exchange under the ticker
symbol "8IS1".
For more information, please visit www.invictus-md.com.
On Behalf of the Board,
George E. Kveton
Chief Executive Officer and Director
Jessica Martin
Vice President, Public Relations and Regulatory Affairs
(833) 879-4363
About Invictus
Invictus is a global cannabis company offering a selection of
products under a wide range of brands. Our integrated sales
approach is defined by five pillars of distribution including
medical, adult-use, international, Licensed Producer to Licensed
Producer and retail stores.
Invictus has partnered with business leaders to convey our
corporate vision, including KISS music legend and business mogul
Gene Simmons as our Chief Evangelist
Officer. To meet growing demand, Invictus is expanding its
cultivation footprint, with three cannabis production facilities
licensed under the Cannabis Act and Cannabis Regulations in
Canada. To accommodate
international sales, Invictus' wholly-owned subsidiary, Acreage
Pharms Ltd. ("Acreage Pharms"), has designed and is currently
building its Phase 3 purpose-built cultivation facility to be
European Union Good Manufacturing Practices ("EU-GMP") compliant.
The Company is targeting up to 50 percent of production to medical
cannabis. To ensure consistency in quality and supply, Invictus
maintains all aspects of the growing process through its
subsidiary, Future Harvest Development Ltd. ("Future Harvest"), a
high-quality fertilizer and nutrients manufacturer. Invictus drives
sustainable long-term shareholder value through a diversified
product portfolio with over 70 Health Canada approved strains and a
multifaceted distribution strategy including medical, adult-use,
international, Licensed Producer to Licensed Producer and retail
stores. For more information visit www.invictus-md.com.
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, timing, assumptions
or expectations of future performance, including statements with
respect to the consolidation of the Company's common shares; and
the timing, receipt of regulatory approval for, and listing of the
Company's common shares on NASDAQ and the filing of a Form 40-F
Registration Statement with the United States Securities and
Exchange Commission 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 that the Company will be successful in completing
the consolidation and obtaining NASDAQ approval and all necessary
regulatory approvals for the listing of its common shares on
NASDAQ. 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, the Company will not be
successful in completing the Consolidation or obtaining the
necessary regulatory approvals to complete the listing on NASDAQ.
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 out-look that are
incorporated by reference herein, except in accordance with
applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
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SOURCE Invictus MD Strategies