VANCOUVER, Oct. 19, 2018 /CNW/ - INVICTUS MD
STRATEGIES CORP. ("Invictus" or the "Company") (TSXV: GENE; OTCQX:
IVITF; FRA: 8IS1) announces the following voting results from
the Company's 2018 Annual General and Special Meeting of
Shareholders (the "Meeting"), which was held in Vancouver on October
18, 2018. A total of 37,280,226 common shares of the
96,623,857 common shares outstanding at the record date were voted
at the Meeting, representing 38.58% of the issued and outstanding
common shares of the Company at the record date.
The Shareholders received the consolidated audited financial
statements of the Company for the year ended January 31, 2018, and voted in favour of all
items of business proposed by management at the Meeting,
including:
- The reappointment of Manning Elliot, LLP Chartered Accountants
as auditor of the Company;
- The election of Dan Kriznic, Trevor
Dixon, George Kveton,
Aaron Bowden, Josef Hocher and Paul
Sparkes as directors for the ensuing year;
- Approval of the Company's incentive Stock Option Plan;
- Approval of the proposed spin-out of the Company's wholly-owned
subsidiary, Poda Technologies Ltd. ("Poda") by way of plan of
arrangement (the "Arrangement"); and
- The amendment to the Escrow Agreement dated October 16, 2015.
Completion of the Arrangement is contingent upon the completion
of all remaining closing conditions associated with the
Arrangement, including final regulatory and court approvals. The
Arrangement was previously announced on August 21, 2018, and the Arrangement Agreement
was signed on September 10, 2018.
For more information, please visit www.invictus-md.com.
On Behalf of the Board,
Dan Kriznic
Chairman and CEO
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 lifestyle 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 two cannabis production facilities
fully licensed under ACMPR in Canada and a third awaiting approval,
featuring 100,000 square feet of available grow space today with
200,000 expected by January 2019 and
1 million by end of 2019. The Company will earmark 50 per cent of
production to the medical and recreational markets, respectively.
To ensure consistency in quality and supply, Invictus maintains all
aspects of the growing process through its subsidiary, Future
Harvest Development Ltd., a high-quality Fertilizer and Nutrients
manufacturer. Invictus drives sustainable long-term shareholder
value through a diversified product portfolio with over 69 Health
Canada approved strains and a multifaceted distribution strategy
including medical, recreational, international and retail. 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 the the timing,
approval and completion of the Arrangement and related matters and
the potential production capacity of Invictus, 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 Invictus will be successful in
reaching its potential production capacity, its production
facilities will be completed as anticipated, regulatory approval
will be granted as anticipated, Invictus will reach full production
capacity on the timeline anticipated by the Company, and no
unforeseen construction delays will be experienced. 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 obtain the requisite
approvals to complete the Arrangement, Invictus will not be
successful in reaching its potential production capacity, its
production facilities will not be completed as anticipated, and
licenses or approvals being granted on terms or timelines that are
materially worse than expected by the Company. 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 (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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SOURCE Invictus MD Strategies