VANCOUVER, Oct. 25, 2018 /CNW/ - INVICTUS MD STRATEGIES
CORP. ("Invictus" or the "Company") (TSXV: GENE; OTCQX: IVITF; FRA:
8IS1) is pleased to announce that it has entered into a
definitive agreement to acquire 100% (the "Acquisition") of
the issued and outstanding shares of a company ("Leaf Wise")
that operates medical clinics in Alberta (see press release dated July 20, 2018, for more details).
Leaf Wise employs a patient-first business model that features
on-site physicians, educational guides and registration support in
just four easy steps. With approximately 3,400 patients registered
under Access to Cannabis for Medical Purposes Regulations
("ACMPR"), Leaf Wise will serve as a direct channel to
Invictus owned Licensed Producers ("LPs"), fully licensed
under ACMPR.
The College of Physicians and Surgeons of Alberta requires a physician who completes a
patient medical document for cannabis to see the patient every
three months, at minimum, following stabilization. Leaf Wise will
serve as an important agent of Invictus' medical distribution
channel, helping to foster long-lasting relationships with
patients, while alleviating a potential burden for Alberta's public healthcare system.
"Over the past few months, we have experienced substantial
growth in our medical distribution channels as more physicians and
patients look to cannabis for treatment," said Dan Kriznic,
Chairman and CEO of Invictus. "As the industry evolves, we will
continue to support research that helps to advance patient care and
provide a forum to facilitate and monitor ongoing
treatment."
Under the terms of the Acquisition, the purchase price includes
an upfront cash payment of $625,000
paid on closing, and $625,000 in
common shares (the "Share Consideration") of Invictus on closing.
Share Consideration will consist of 312,500 Invictus shares
representing an aggregate market value of $625,000 based on a price per Invictus share of
$2.00. In addition, future
consideration will be paid based on the achievement of certain
performance milestones, including certain patient metrics.
The closing of the Acquisition (the "Closing
Date") shall take place on or before October 31, 2018, or such other time mutually
agreed by both parties. In addition, Invictus will provide a
capital commitment of $500,000
(the "Investment") for expansion of the existing medical
clinic business and working capital purposes, to be funded over
time, after the Closing Date. The Acquisition is subject to final
Board and TSXV approval.
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
up to 1 million by end of 2020. To accommodate international sales,
Invictus' wholly-owned subsidiary, Acreage Pharms Ltd. ("Acreage
Pharms"), has designed and is currently building its Phase 3 and 4
purpose-built cultivation facilities to be European Union Good
Manufacturing Practices ("EU-GMP") compliant. The Company will
earmark up to 50 per cent of production to the medical. 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, 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 the timing,
approval and completion of the Acquisition 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 Acquisition, 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