VANCOUVER, Jan. 28, 2019 /CNW/ - INVICTUS MD STRATEGIES
CORP. ("Invictus" or the "Company") (TSXV: GENE; OTCQX: IVITF; FRA:
8IS1) is pleased to provide an update on its binding
letter of intent ("LOI") to create a joint venture with Cannamerica
Brands Corp. ("CannAmerica") (CSE: CANA) (OTCQB: CNNXF) and
CBDistribution Company Ltd. ("CBDC") (collectively the "Joint
Venture") that was previously announced on January 7, 2019 with the intention of acquiring
hemp biomass for extraction into CBD isolate using purpose-built
facilities for large scale CBD extraction.
Invictus is pleased to announce that it has received approval
from its Board of Directors to enter into the Joint Venture with
CannAmerica and CBDC. Once the transaction is closed, the Joint
Venture will mark the Company's entry into the CBD market in the
United States.
"This is another step towards building a long-term partnership
with CannAmerica and CBDC to grow Invictus beyond Canada's borders into the United States' burgeoning CBD market,"
said George E. Kveton, President and CEO of Invictus.
"We continue to make great progress with our partners to achieve
the goals of creating this Joint Venture and the Joint Venture's
proposed acquisition of Z3 Sciences, LLC that was announced on
January 16, 2019," said Dan Anglin, CEO and Co-Founder of CANA.
Invictus has also granted 1,090,000 incentive stock options to
certain eligible directors, employees and consultants of the
Company. Each stock option has an exercise price of $1.20 and is exercisable into one common share of
the Company. The options vest immediately and are exercisable over
a period of five years. The stock options were granted subject to
the terms and conditions of the Company's Stock Option Plan.
For more information, please visit www.invictus-md.com.
On Behalf of the Board,
George E. Kveton
Chief Executive Officer and Director
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 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.
About CannAmerica Brands Corp.
CannAmerica Brands is a U.S. marine veteran founded and operated
portfolio of cannabis brands with licensing agreements in the
states of Colorado, Nevada and Maryland. The Company aims to maximize the
value of its brands by employing strong brand management teams,
marketing and licensing the brands through various distribution
channels, including dispensaries, wholesalers and distributors, in
the United States and
internationally. The Company's core strategy is to enhance and
monetize the global reach of its existing brands, and to pursue
additional strategic acquisitions to grow the scope and diversity
of its brand portfolio. For more information, please visit
www.cannamericabrands.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 Company's plan
to enter into a definitive joint venture agreement and the joint
venture's ability to extract CBD isolate from hemp biomass 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 joint venture will be
successful in extracting CBD isolate from hemp biomass and that the
Company will be successful in entering into a definitive joint
venture agreement. 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 joint
venture will not be successful in extracting CBD isolate from hemp
biomass and/or the Company will not be successful in reaching a
definitive joint venture agreement. 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.
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SOURCE Invictus MD Strategies