Invictus Withdraws Plans for NASDAQ Listing and Related Share Consolidation
May 15 2019 - 9:00AM
Vancouver, BC, May 15, 2019 – INVICTUS MD STRATEGIES CORP.
(“Invictus” or the “Company”) (TSXV: GENE; OTCQX: IVITF; FRA:
8IS2) announced today that the Company is withdrawing plans
to list the Company’s common shares (the “Shares”) on NASDAQ Stock
Market LLC (“NASDAQ”), as well as plans for the share consolidation
that would have been required to meet NASDAQ’s minimum share price
listing threshold. Plans for the NASDAQ listing and a share
consolidation were originally announced in press releases dated
January 17, 2019 and January 21, 2019.
“The intended timing of a NASDAQ uplist was premature and
underway prior to my assumption of responsibilities,” said George
E. Kveton, CEO of Invictus. “At present, the Company is fully
devoted to bringing its purpose-built indoor cultivation facilities
into production and getting the Company’s products into the hands
of our adult recreational and medical consumers across key
provinces.”
The Board of Directors of the Company anticipates that it will
revisit the merits of a NASDAQ listing in the future.
The Company’s Shares will continue to trade on the TSXV under
the ticker symbol “GENE”, on the OTCQB® Venture Market in the
United States under the symbol “IVITF” and on the Frankfurt Stock
Exchange under the ticker symbol “8IS2”.
For more information about Invictus, please
visit www.invictus-md.com.
On Behalf of the Board,
George E. Kveton Chief Executive Officer and Director
Investor Relations
1-844-800-6086
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 anticipated 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 obtaining NASDAQ approval and all necessary
regulatory approvals for its anticipated 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 obtaining the necessary regulatory
approvals to complete its anticipated 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.
Kathy Love
Invictus MD Strategies Corp.
6045122959
kathy@invictus-md.com
Invictus MD Strategies (TSXV:GENE)
Historical Stock Chart
From Aug 2024 to Sep 2024
Invictus MD Strategies (TSXV:GENE)
Historical Stock Chart
From Sep 2023 to Sep 2024