Invictus MD Strategies Corp IVITF

Invictus receives board approval for CannAmerica JV

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Invictus receives board approval for CannAmerica JV 2019-01-28 10:27 ET - News Release Also News Release (C-CANA) CannAmerica Brands Corp Mr. George Kveton of Invictus reports CANNAMERICA AND INVICTUS PROVIDE UPDATE ON HEMP AND CBD JOINT VENTURE Invictus MD Strategies Corp. has provided an update on its binding letter of intent to create a joint venture with Cannamerica Brands Corp. and CBDistribution Company Ltd. that was previously announced on Jan. 7, 2019, with the intention of acquiring hemp biomass for extraction into cannabidiol isolate using purpose-built facilities for large scale CBD extraction. Invictus is pleased to announce that it has received approval from its Board of Directors to enter into the Joint Venture with CannAmerica and CBDC. Once the transaction is closed, the Joint Venture will mark the Company's entry into the CBD market in the United States. "This is another step towards building a long-term partnership with CannAmerica and CBDC to grow Invictus beyond Canada's borders into the United States' burgeoning CBD market," said George E. Kveton, President and CEO of Invictus. "We continue to make great progress with our partners to achieve the goals of creating this Joint Venture and the Joint Venture's proposed acquisition of Z3 Sciences, LLC that was announced on January 16, 2019," said Dan Anglin, CEO and Co-Founder of CANA. Invictus has also granted 1,090,000 incentive stock options to certain eligible directors, employees and consultants of the Company. Each stock option has an exercise price of $1.20 and is exercisable into one common share of the Company. The options vest immediately and are exercisable over a period of five years. The stock options were granted subject to the terms and conditions of the Company's Stock Option Plan.