Vancouver, BC, October 27, 2016 – INVICTUS MD STRATEGIES CORP. (“Invictus MD” or the “Company”) (CSE: IMH; OTC: IVITF; FRA: 8IS) is pleased to announce that it has entered into a Letter of Intent for an option to acquire 10% in an unnamed State of Nevada (“SNV”) Medical Marijuana Cultivation License located in Las Vegas NV (‘The Seller”) for $2,250,000 USD by way of issuance of common shares of Invictus MD based on the VWAP of Invictus MD three (3) days prior to closing the definitive agreement.
The terms of the Letter of Intent allows Invictus MD to exercise its option within 45 days after The Seller has obtained its final approval for cultivation from The SNV inspection department. A preliminary inspection date has been booked for late 2016 and the final cultivation license is expected to be issued in Q1 of 2017. Upon issuance of the cultivation license, Invictus MD will have the option to acquire a 10% equity stake from The Seller, with the option to exercise another 50% (totalling 60%) expiring within 6 months of signing the definitive agreement. The transaction is subject to the SNV approval.
Dan Kriznic, CEO of Invictus MD, commented, “The City of Las Vegas has always been on our radar, as it is one of few states which allow for reciprocity of licenses. Meaning anyone in the world holding a medical marijuana prescription card will be able to purchase cannabis here. Las Vegas being the number 1 tourist destination in all of the U.S., we feel that this market has tremendous potential, with one of the toughest barriers of entry. We chose to close this transaction before the recreational ballot vote on November 8th, 2016 as we feel The Seller would ask for an increase in valuation if recreational wins the ballot.”
Invictus MD also announces that a total of 450,000 incentive stock options have been granted to officers and directors of the Company pursuant to the Company’s Stock Option Plan. The options are exercisable for a period of five years at a price of $0.92 per share.
About Invictus MD Strategies Corp.
Invictus MD targets companies with proven brands, strong customer focus, and significant growth potential. We provide not only capital to meet these objectives but also years of management experience from a team that has been successful in all facets of business, from establishing start-ups to running large international organizations. The fundamental core of our operations centers on the vast opportunities within fragmented industries.
Invictus MD works in partnership with management teams to increase shareholder value through business planning and process integration, developing and executing growth strategies, leveraging our experience and relationships, and structuring and deploying the proper capital to support long-term growth. Our prudent approach to both investing in and developing successful companies ensures successful execution of the business plan in both times of economic expansion and contraction.
For more information, please visit www.invictus-md.com.
On Behalf of the Board,
Chairman & CEO
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