Vancouver, B.C., Nov. 25, 2019 (GLOBE NEWSWIRE) -- INVICTUS MD STRATEGIES CORP. ("Invictus" or the "Company") (TSXV: GENE; OTCQX: IVITF; FRA: 8IS2) the Company is pleased to announce the completion, effective September 30, 2019, of the previously announced termination of its license agreement with ABG-HMX, LLC pursuant to an omnibus settlement and termination agreement (the “Agreement”). The Company sought and received regulatory approval from the TSX Venture Exchange to complete the termination.
Further to the description of the terms and conditions of the Agreement in the Company's news release dated October 23, 2019, in accordance with TSXV requirements, the Agreement was amended to institute a minimum per share issue price of $0.12 as opposed to $0.11625 for any share consideration issued in connection with the Company’s payment obligations under the Agreement. For more information, please visit www.invictus-md.com.
Interim Chief Executive Officer
Investor Relations 1-844-800-6086
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 is a global 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. The Company’s integrated sales approach is defined by five pillars of distribution including medical, adult-use, international, Licensed Producer to Licensed Producer and sales to provinces.
To meet growing demand, Invictus is expanding its cultivation footprint with two cannabis production facilities licensed under the Cannabis Act, which replaced the Access to Cannabis for Medical Purposes Regulations in Canada. Invictus’ wholly-owned subsidiary Acreage Pharms Ltd.’s (“Acreage”) Phase I and Phase II facilities are in full production. Acreage is awaiting the amendment to their license from Health Canada to include the Phase III facility. AB Laboratories Inc., a company which is a 50% owned subsidiary of Invictus has completed its Phase II expansion and received its amended license from Health Canada. Another of Invictus’ wholly owned subsidiaries, 2015059 Alberta Ltd. (dba Leaf Wise), continues to connect medical clients to physicians for medical cannabis and to Invictus’ fully licensed cannabis producers under the Cannabis Act. Invictus is targeting up to 50 percent of production to medical cannabis. Invictus drives sustainable long-term shareholder value by continuing to develop Invictus’ Canadian production of medical and recreational cannabis products. For more information visit www.invictus-md.com.