Vancouver, BC, April 23, 2019 (GLOBE NEWSWIRE) -- INVICTUS MD STRATEGIES CORP. ("Invictus" or the "Company") (TSXV: GENE; OTC: IVITF; FRA: 8IS2) announced today that it has entered into a letter of intent (“LOI”) to form a Joint Venture (“JV”) with Gene Simmons (“Simmons”), Simmons’ MoneyBag Sodas (“MoneyBag™”) and Rock Steady Sodas, Inc. (“Rock”) (each a “Party” and collectively the “Parties”) to develop a line of non-alcoholic, CBD-infused beverages for distribution in the United States and Canada.
Economics of the of the JV will be determined over the next 60 days as the Parties finalize due diligence. Each of the Parties will contribute the following to the JV in exchange for their respective economic interest:
Invictus will contribute procurement of CBD and contracted expertise in infusing beverages;
Simmons and MoneyBag™ will contribute the license to use the trademark Simmons MoneyBag™ Sodas; and
Rock will contribute expertise with existing premium soda recipes to be used with CBD and generations of bottling and distribution experience.
Currently, Simmons’ line of MoneyBag™ Sodas includes a cola, diet cola, root beer, ginger ale and cream soda. There are new flavors in development.
MoneyBag™ Sodas are made in cooperation with Niagara Falls, New York-based Rock Steady Sodas Inc. The sodas are sold throughout the United States in thousands of retail locations including: Wegmans, Hy-Vee, Meijer Foods, Tops Markets, 7-11, Yokes Fresh Markets, Big-Y, Rocket Fizz, and Bridge Street Markets. They will soon be available in additional major retail chains in Canada, United States, and The Caribbean Islands.
Simmons is an international rock legend and co-founder of KISS, America’s #1 gold record award-winning group of all time in all categories (RIAA). As a serial entrepreneur, Simmons has achieved success that reaches far beyond his music career, extending into television, film, publishing, merchandising, restaurants, consumer products and more. His KISS-related achievements are astounding in themselves, with the band having sold more than 100 million albums; building a merchandising/licensing empire with over 5,000 licenses including everything from t-shirts and comic books, to pinball machines, credit cards and lunchboxes; and breaking box office records set by The Beatles and Elvis.
“Based on his successes on and off the stage, we initially approached Gene to become Chief Evangelist Officer of Invictus, but his role has grown far beyond that,” said George E. Kveton, CEO of Invictus. “Simmons’ MoneyBag Sodas are exceptional, and working with Rock and their notable distribution channels, new line of CBD infused sodas will catapult our growth and position in the CBD beverage space.”
According to Simmons, “Invictus has a great platform to assist Rock with the procurement and launching of a new CBD Beverage line under the MoneyBag™ Soda brand. We launched this brand in 2018 and have seen tremendous growth in sales and distribution in a very short amount of time. A CBD line will directly attach to our existing distribution channels and the premium quality of the products will provide customers with an exceptional experience every time.”
On Behalf of the Board,
George E. Kveton
Chief Executive Officer and Director
Media Contact: Terry Wills, Wills Communications, Inc., firstname.lastname@example.org, 310-376-6600.
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 three cannabis production facilities licensed under the Cannabis Act and Cannabis Regulations in Canada. To accommodate international sales, Invictus’ wholly-owned subsidiary, Acreage Pharms Ltd., has designed and is currently in the final stages of building its Phase 3 purpose-built cultivation facility to be European Union Good Manufacturing Practices compliant. The Company is targeting up to 50 percent of production to medical 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 70 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.
Rock Steady Sodas
Rock Steady Sodas is an affiliate of The Johnnie Ryan Company Inc., founded in Niagara Falls, New York in 1935. Brothers Paul and John Janik are third generation owners and bottlers. Their soft drinks are made of the finest extracts and flavorings available and sweetened with 100% pure cane sugar. Products are packaged in a classic glass bottle to preserve freshness, great taste and carbonation. No expense is spared in the manufacturing of their products. For information about MoneyBag Sodas, visit www.MoneyBagSodas.com .
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Wills Communications, Inc.