Invictus Receives $5.8 Million from Warrant and Option Exercises and Issues Incentive Stock Options
July 05 2018 - 7:00AM
InvestorsHub NewsWire
Invictus Receives $5.8 Million from Warrant and
Option Exercises and Issues Incentive Stock
Options
Vancouver, BC -- July 5,
2018 -- InvestorsHub NewsWire -- INVICTUS MD STRATEGIES CORP.
("Invictus" or the "Company") (TSXV: GENE; OTC: IVITF; FRA:
8IS1) is pleased to announce
that for the current fiscal year, which commenced on February 1,
2018, the Company has received $5,777,267 from the exercise of
previously issued warrants and options. A total of 4,346,731
warrants and 337,500 options were exercised for proceeds of
$5,267,467 and $509,800, respectively. As a result of such
exercises, the Company currently has a total of 96,623,857 common
shares issued and outstanding.
Invictus expects to use these proceeds to help fund
its ongoing construction program and overall operations. The
Company anticipates a total cannabis cultivation footprint of
262,000 square feet by the end of 2018 and 846,000 square feet by
end of 2019. Invictus has approximately 9.9 million warrants and
9.4 million options outstanding that, if exercised, would bring in
an additional $19.7 million and $14.9 million in cash funds to the
Company.
Invictus has also granted 120,000
incentive stock options to certain eligible persons of the Company.
Each stock option has an exercise price of $1.50 and is exercisable
into one common share of the Company. The options vest 1/3 in 3
months, 1/3 in nine months, and 1/3 in fifteen months 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.
About Invictus
Invictus owns and operates two cannabis
production facilities, both with sales licenses, under the ACMPR in
Canada, with the vision of producing a variety of high quality and
low-cost cannabis products to the global market, as regulations
permit. The Company’s wholly owned subsidiary, Acreage Pharms Ltd.
(“Acreage Pharms”), is located in West-Central
Alberta. The Company’s 50% owned AB Laboratories Inc. (“AB
Labs”), is located in Hamilton, Ontario. AB Ventures Inc.
(“AB Ventures”) owns 100 acres of land near
Hamilton, Ontario, to be used for future cannabis cultivation.
Recently, the Company announced that it has entered into a binding
letter of intent for an option to acquire an applicant (the
“OptionCo”) under the ACMPR. Combined, the Company
expects to have approximately 262,000 and 846,000 square feet of
cannabis production capacity by the end of 2018 and 2019,
respectively.
Gene Simmons, music legend and media
mogul, conveys the vision of Invictus as the Chief Evangelist
Officer.
The Company’s wholly owned subsidiary,
Poda Technologies Ltd. (“Poda”), has developed
the world’s first
zero-cleaning vaporizer system. Poda’s fully biodegradable pods are
self-contained, and do not contaminate the vaporizer with odor,
flavor or residue.
Finally, the Company’s 82.5% owned Future Harvest Development Ltd.
(“Future Harvest”) is a high-quality Fertilizer
and Nutrients manufacturer, based in Kelowna, British
Columbia. Future Harvest has been in operation for over 20 years
under the brand Plant Life Products and Holland Secret.
Invictus’ Canadian Production Footprint:
For more information, please visit www.invictus-md.com.
On Behalf of the Board,
Dan Kriznic
Chairman and CEO
Jessica Martin
Vice President, Public Relations and Regulatory Affairs
(604) 537-8676
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 expected use of
the proceeds from the Company’s option and warrant exercises and
the potential production capacity of OptionCo, AB Labs, AB Ventures
and Acreage Pharms, 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” or “would” 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 there will be no material change in the Company’s
business or market conditions that will require the Company to
alter its current anticipated use of the proceeds from the option
and warrant exercises that OptionCo, AB Labs, AB Ventures and
Acreage Pharms will be successful in reaching their potential
production capacity, OptionCo, AB Labs, AB Ventures and Acreage
Pharms’ production facilities will be completed as anticipated,
regulatory approval will be granted as anticipated, OptionCo, AB
Labs, AB Ventures and Acreage Pharms will reach full production
capacity on the timeline anticipated by the Company,. 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, there will be a material change in the
Company’s business or market conditions that will require the
Company to alter its current anticipated use of the proceeds from
the option and warrant exercises OptionCo, AB Labs, AB Ventures and
Acreage Pharms will not be successful in reaching its potential
production capacity, OptionCo, AB Labs, AB Ventures and Acreage
Pharms production facilities will not be completed as anticipated,
construction delays, regulatory approval will not be granted as
anticipated and therefore, the anticipated timing of OptionCo, AB
Labs, AB Ventures and Acreage Pharms reaching full production
capacity will be delayed. 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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