INVICTUS SIGNS DEFINITIVE AGREEMENT WITH CLINIC SERVICING 3,400 ACMPR REGISTERED PATIENTS
26 October 2018 - 1:15AM
InvestorsHub NewsWire
INVICTUS SIGNS DEFINITIVE
AGREEMENT WITH CLINIC SERVICING 3,400 ACMPR REGISTERED
PATIENTS
Vancouver, BC -- October 25, 2018
-- InvestorsHub NewsWire -- INVICTUS MD STRATEGIES CORP.
("Invictus" or the "Company") (TSXV: GENE; OTCQX: IVITF; FRA: 8IS1)
is
pleased to announce that it has entered into a definitive agreement
to acquire 100% (the “Acquisition”) of the issued
and outstanding shares of a company ("Leaf Wise”)
that operates medical clinics in Alberta (see press release dated
July 20, 2018, for more
details).
Leaf Wise employs a patient-first
business model that features on-site physicians, educational guides
and registration support in just four easy steps. With
approximately 3,400 patients registered under Access to Cannabis
for Medical Purposes Regulations (“ACMPR”), Leaf
Wise will serve as a direct channel to Invictus owned Licensed
Producers (“LPs”), fully licensed under
ACMPR.
The College of Physicians and
Surgeons of Alberta requires a physician who completes a patient
medical document for cannabis to see the patient every three
months, at minimum, following stabilization. Leaf Wise will serve
as an important agent of Invictus’ medical distribution channel,
helping to foster long-lasting relationships with patients, while
alleviating a potential burden for Alberta’s public healthcare
system.
“Over the past few months, we
have experienced substantial growth in our medical distribution
channels as more physicians and patients look to cannabis for
treatment,” said Dan Kriznic, Chairman and CEO of Invictus. “As the
industry evolves, we will continue to support research that helps
to advance patient care and provide a forum to facilitate and
monitor ongoing treatment.”
Under the terms of the
Acquisition, the purchase price includes an upfront cash payment of
$625,000 paid on closing, and $625,000 in common shares (the “Share
Consideration”) of Invictus on closing. Share Consideration will
consist of 312,500 Invictus shares representing an aggregate market
value of $625,000 based on a price per Invictus share of $2.00. In
addition, future consideration will be paid based on the
achievement of certain performance milestones, including certain
patient metrics.
The closing of the Acquisition
(the “Closing Date”) shall take place on or before
October 31, 2018, or such other time mutually agreed by both
parties. In addition, Invictus will provide a capital commitment of
$500,000 (the “Investment”) for expansion of the
existing medical clinic business and working capital purposes, to
be funded over time, after the Closing Date. The Acquisition is
subject to final Board and TSXV
approval.
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
(833)
879-4363
About
Invictus
Invictus is a
global cannabis company offering a selection of products under a
wide range of lifestyle 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 fully licensed under ACMPR in Canada and a third
awaiting approval, featuring 100,000 square feet of available grow
space today with 200,000 expected by January 2019 and up to 1
million by end of 2020. To accommodate international sales,
Invictus’ wholly-owned subsidiary, Acreage Pharms Ltd. (“Acreage
Pharms”), has designed and is currently building its Phase 3 and 4
purpose-built cultivation facilities to be European Union Good
Manufacturing Practices (“EU-GMP”) compliant. The Company will
earmark up to 50 per cent of production to the medical. 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.
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 timing, approval and completion of the
Acquisition and related matters and 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, the Company will not obtain the requisite
approvals to complete the Acquisition, 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.
Invictus MD Strategies (TSXV:GENE)
Historical Stock Chart
From Apr 2024 to May 2024
Invictus MD Strategies (TSXV:GENE)
Historical Stock Chart
From May 2023 to May 2024