VANCOUVER, Nov. 9, 2018 /CNW/ - INVICTUS MD STRATEGIES
CORP. ("Invictus" or the "Company") (TSXV: GENE; OTCQX: IVITF; FRA:
8IS1) and Poda Technologies Ltd. ("Poda") are pleased to
announce the completion of the plan of arrangement to give effect
to the spinout transaction (the "Arrangement"), as previously
announced on August 21, 2018. The arrangement agreement
between Invictus and Poda dated September
10, 2018, sets out the terms of the Arrangement. The
Arrangement was voted on and approved by the Company's shareholders
at its 2018 Annual General and Special Meeting of Shareholders,
held on October 18, 2018.
Computershare Investor Services Inc. (the "Depositary") will
forward to each registered Invictus Shareholder a letter of
transmittal containing instructions with respect to the deposit of
common shares of Invictus (the "Old Invictus Shares") with the
Depositary for use in exchanging their Invictus common share
certificates for certificates representing the post-Arrangement
Invictus common shares ("New Invictus Shares") and Poda Class A
common shares (the "Poda Shares"), to which they are entitled under
the Arrangement. Upon return of a properly completed letter of
transmittal, together with certificates formerly representing
Invictus Shares and such other documents as the Depositary may
require, certificates for the appropriate number of New Invictus
Shares and Poda Shares will be distributed.
Holders of outstanding Invictus warrants ("Warrants")
immediately prior to the effective date of the Arrangement (the
"Effective Date") will receive, upon exercise of each such Warrant
at the same original exercise price, one New Invictus Share and one
Poda Share, in lieu of the one Old Invictus Share that was issuable
upon exercise of such Warrant, immediately prior to the Effective
Date.
For more information, see the Company's Information Circular
dated September 14, 2018, which is
available on the Company's website at www.invictus-md.com and under
the Company's SEDAR profile at www.sedar.com.
On Behalf of the Board,
George E. Kveton
CEO and Director
Jessica Martin
Vice President, Public Relations and Regulatory Affairs
(604) 537-8676
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 two cannabis production facilities
licensed under the ACMPR in Canada
featuring 200,000 square feet of expected grow space by
January 2019 and a plan to scale to
over 600,000 square feet. 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 will
earmark up to 50 per cent of production to medical use cannabis. 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.
About Poda
Poda is actively engaged in the development and
commercialization of vaporizable products, which have the potential
to reduce the risks associated with combustible products. In
addition to several other intellectual property holdings, the
Company has developed an innovative heat-not-burn vaporization
system that uses proprietary biodegradable single-use pods, which
are both consumer and environmentally friendly. Poda's
patent-pending design prevents cross-contamination between the
electronic vaporization device and the pod, eliminating all
cleaning requirements and providing users with the most convenient
and enjoyable potentially risk-reduced vaping experience. Pod
refill options range from dried flower and tobacco to liquids and
concentrates, and can easily be switched during vaping sessions to
suit any adult consumer's mood.
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 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, 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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/invictus-and-poda-announce-closing-of-arrangement-300747371.html
SOURCE Invictus MD Strategies