Invictus MD Strategies Corp IVITF

Invictus and Gtec cancel LOI to merge

[Eoj123]

Vancouver, BC, January 15, 2019 - INVICTUS MD STRATEGIES CORP. ("Invictus" or the "Company") (TSXV: GENE; OTCQX: IVITF; FRA: 8IS1) announced that pursuant to the terms of a non-binding letter of intent (the LOI) entered into with GTEC Holdings Ltd. (TSXV: GTEC; OTC:GGTTF) (GTEC), as announced on November 16, 2018, the parties have mutually agreed to terminate the LOI and not proceed with the merger, with a preference for increased strategic collaboration in building out the route to adult consumer retail side. GTEC and Invictus maintain a strong working relationship based on its previously announced definitive agreement dated August 30, 2018 whereby: GTEC has entered into a $2m convertible loan facility with Invictus, at an interest rate of prime plus 5%. The loan facility is convertible at $1.50 per common share of GTEC and is due on the date that is two years following the date of the first draw. As of the date hereof, GTEC has drawn-down the facility. As additional consideration, GTEC has provided Invictus with a right of first refusal to fill up to 30% of any cannabis purchase order domestically and internationally (whether for flower or oil) that GTEC, or its wholly-owned subsidiaries are seeking to purchase from third party Licensed Producers for a period of two years. Invictus is continually aiming to realize its vision of building a global cannabis company anchored on its Western Canadian roots, with a focus on satisfying patients and consumers needs in the medical and recreational markets, respectively said George E. Kveton, President and CEO of Invictus. We look forward to maintaining and further increasing our strong, strategic partnerships with companies like GTEC to support our five pillars of distribution including medical, recreational, international, Licensed Producer to Licensed Producer, and retail. We look forward to continuing down the path of GTEC becoming one of Canadas leading premium focused and vertically integrated cannabis companies, while maintaining a strong working relationship with the Invictus team said Norton Singhavon, Founder, Chairman & CEO. 2019 will prove to be an instrumental year for GTEC as we continue to execute on our vision and strategy within the premium cannabis market in Canada.

[fmab011]

What is happening with this company? GTEC deal is history and a company director quits! Did he quit or was he asked to resign? Is there anyone who can shed some light on this company? It just sounds INVICTUS doesn’t have much of a game plan anymore!

[Eoj123]

I don't know how it will all pan out but the share price has been under pressure since they announced this merger so maybe this will lift some weight off of it. Time will tell.

[ketchenergy]

Dixon still with company just off the board. Still holds with wife at least 10% of company.... I cannot shed light but seems on track, I perfer dropping the gtec merger

[LovingLoveWEED]

This post has been removed in accordance with Community Policy

[buddingprospect]

The 'Equity Guru' chimes in re decision: https://equity.guru/2019/01/15/invictus-md-strategies-gene-v-gtec-holdings-gtec-c-call-off-merger-market-evolves/ Cheers BP