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