VANCOUVER, March 24, 2020 /CNW/ - INVICTUS MD
STRATEGIES CORP. (NEX: GENE.H;) (the "Company")
announced that the Company, Greener Pastures MD Ltd., Acreage
Pharms Ltd. ("Acreage") and 2015059 Alberta Ltd.
(collectively, the "Invictus Group") have received an
order (the "Order") from the Supreme Court of British Columbia (the "Court") that
approves the Invictus Group's proposed sale and investment
solicitation process ("SISP") in respect of their businesses
and assets in connection with the Invictus Group's ongoing
Companies' Creditors Arrangement Act ("CCAA")
proceedings.
Under the SISP, the Invictus Group, together with its Chief
Restructuring Officer ("CRO") has commenced soliciting
proposals from potential interested parties for the acquisition of,
or investment in, the Invictus Group or their respective businesses
and assets, all in accordance with the process and timelines
provided for in the Order. The deadline for initial qualified
non-binding letters of interest will be 5:00pm (Pacific Time) on April 24, 2020. Potential interested parties
wishing to participate in the SISP should contact the Invictus
Group or the CRO.
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.
For more information regarding the Company's CCAA
proceedings
Further information on the Order and SISP may be obtained from
the website of PricewaterhouseCoopers Inc., in its capacity as
Court-appointed monitor of the Invictus Group (the
"Monitor"), at https://www.pwc.com/ca/invictus.
About Invictus
Invictus is a cannabis company with a focus on the Canadian
cannabis space, offering a selection of products under a wide range
of cannabinoid profiles that fit the demand of the Company's
medical clients and retail customers.
For more information visit www.invictus-md.com.
Forward Looking Information
This news release includes certain statements and information
that may constitute forward-looking information and statements
within the meaning of applicable Canadian securities laws.
Forward-looking statements may generally be identified by the use
of the words "will", "continues", "anticipates" and "intends" and
variations or similar expressions which include, but are not
limited to, statements relating to the CCAA proceedings; SISP; CRO;
operations of the Invictus Group; liquidity of the Invictus Group;
and ability of the Invictus Group to continue operating as a going
concern.
Forward-looking information and statements involve and are
subject to assumptions and known and unknown risks, uncertainties,
and other factors which may cause actual events, results,
performance or achievements of the Company to be materially
different from future events, results, performance, and
achievements expressed or implied by forward-looking information
and statements herein. Although the Company believes that any
forward-looking information and statements herein are reasonable,
in light of the use of assumptions and the significant risks and
uncertainties inherent in such information and statements, there
can be no assurance that any such forward-looking information and
statements will prove to be accurate, and accordingly readers are
advised to rely on their own evaluation of such risks and
uncertainties and should not place undue reliance upon such
forward-looking information and statements. Any forward-looking
information and statements herein are made as of the date hereof,
and except as required by applicable laws, the Company assumes no
obligation and disclaims any intention to update or revise any
forward-looking information and statements herein or to update the
reasons that actual events or results could or do differ from those
projected in any forward looking information and statements herein,
whether as a result of new information, future events or result,
changes in the CCAA proceedings or otherwise, except as required by
applicable laws.
SOURCE Invictus MD Strategies