INVICTUS AND PODA ANNOUNCE CLOSING OF ARRANGEMENT
November 09 2018 - 7:11AM
InvestorsHub Cannabis NewsWire
INVICTUS AND PODA ANNOUNCE CLOSING OF
ARRANGEMENT
Vancouver, BC -- November 9, 2018 --
InvestorsHub NewsWire -- 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.
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