INVICTUS AND CANNAMERICA PROVIDE UPDATE ON HEMP AND CBD JOINT VENTURE
March 07 2019 - 3:05PM
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 to create a joint
venture with Cannamerica Brands Corp. (CSE: CANA) (OTCQB: CNNXF)
and CBDistribution Company Ltd. (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.
The transaction is anticipated to close on or before March 31,
2019. Each of the parties involved have received approval from
their respective Board of Directors to enter into the Joint
Venture. Once the transaction is closed, the Joint Venture will
mark the Company’s entry into the CBD market in the United States.
The Joint Venture will no longer be purchasing eighty percent (80%)
of the membership interests of Z3 Sciences, LLC, as previously
announced on January 16, 2019, due to a mutual decision made by all
parties involved.
Invictus has also granted 450,000 incentive stock options to
certain consultants of the Company. Each stock option has an
exercise price of $0.95 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. KvetonChief Executive Officer
and Director
Jessica MartinVice 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
route-to-customer approach is defined by five pillars of sales and
distribution including medical, adult-use recreational, retail,
Licensed Producer to Licensed Producer and international.
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 domestic and
international sales, Invictus’ wholly-owned subsidiary, Acreage
Pharms Ltd., is well advanced in building its Phase 3 purpose-built
cultivation facility to be European Union Good Manufacturing
Practices compliant. The Company is targeting for up to 50 percent
of its production to comprise medical cannabis. To ensure
consistency in quality and supply, Invictus participates in 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 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
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
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 that the Joint
Venture transaction is anticipated to be completed on or before
March 31, 2019 and that the Joint Venture Transaction is expected
to close as anticipated by management 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 transaction will be
completed on or before March 31, 2019 and that the Joint Venture
transaction will close as anticipated by management. 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, that the Joint Venture transaction will not be
completed on or before March 31, 2019, that the Joint Venture
transaction will not be completed as expected by management and
that there is no guarantee the Joint Venture transaction will close
at all. 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.
Jessica Martin
Invictus
(833) 879-4363
jessica@invictus-md.com
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