VANCOUVER, May 24, 2017 /CNW/ - INVICTUS MD STRATEGIES
CORP. ("Invictus MD" or the "Company") (TSXV: IMH; OTC: IVITF; FRA:
8IS) is pleased to announce that it has closed its previously
announced bought deal private placement (the "Offering"), with
Canaccord Genuity Corp., Eventus Capital Corp., Echelon Wealth
Partners Inc., GMP Securities L.P. and PI Financial Corp.
(collectively, the "Underwriters"), including the over-allotment
option, for aggregate gross proceeds of $25,008,750. A total of 18,525,000 units (the
"Units"), including those pursuant to the exercise of the
over-allotment option, were issued at a price of $1.35 per Unit.
Each Unit is comprised of one common share and one-half of one
common share purchase warrant (each whole common share purchase
warrant, a "Warrant"). Each Warrant is exercisable to acquire one
common share (a "Warrant Share") until November 24, 2018 at an exercise price of
$1.75 per Warrant Share.
Net proceeds from the Offering will be used for expansion plans
for the Company's assets and for general working capital purposes.
As compensation, the Underwriters received a commission
of 5% of the gross proceeds and a corporate finance fee of 5% of
the gross proceeds.
All securities issued or issuable under the Offering are subject
to a four-month hold period expiring on September 25, 2017.
The Company also announces the issuance of 1,000,000 common
shares to an arm's length consultant as payment for certain
consulting services, including the introduction and integration of
the Company's recent acquisitions.
The Company also announces the resignation of Mike Blady from the Board. The Company
wishes to thank Mike Blady for his
valuable contribution to the Company and wish him well for the
future.
About Invictus MD Strategies Corp.
Invictus MD Strategies Corp. is focused on three main verticals
within the burgeoning Canadian cannabis sector: Licensed Producers
under the ACMPR including investment in the fully licensed
facilities operated by AB Laboratories Inc. and Acreage Pharms
Ltd.; Fertilizer and Nutrients through Future Harvest Development
Ltd.; and Cannabis Data and Delivery, with its wholly owned
subsidiary Poda Technologies Ltd.
For more information, please visit www.invictus-md.com.
On Behalf of the Board,
Dan Kriznic
Executive Chairman
Larry Heinzlmeir
Vice President, Marketing & Communications
604-537-8676
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Invictus MD Strategies