Invictus MD Strategies Corp IVITF

News

[TitanTrader]

INVICTUS AND CANNAMERICA PROVIDE UPDATE ON HEMP AND CBD JOINT VENTURE Vancouver, BC, March 07, 2019 (GLOBE NEWSWIRE) -- INVICTUS MD STRATEGIES CORP. ("Invictus" or the "Company") (TSXV: GENE; OTCQX: IVITF; FRA: 8IS1) is pleased to provide an update on its binding letter of intent to create a joint venture with Cannamerica Brands Corp. (CSE: CANA) (OTCQB: CNNXF) and CBDistribution Company Ltd. (collectively, the Joint Venture) that was previously announced on January 7, 2019, with the intention of acquiring hemp biomass for extraction into CBD isolate using purpose-built facilities for large scale CBD extraction. The transaction is anticipated to close on or before March 31, 2019. Each of the parties involved have received approval from their respective Board of Directors to enter into the Joint Venture. Once the transaction is closed, the Joint Venture will mark the Companys entry into the CBD market in the United States. The Joint Venture will no longer be purchasing eighty percent (80%) of the membership interests of Z3 Sciences, LLC, as previously announced on January 16, 2019, due to a mutual decision made by all parties involved. Invictus has also granted 450,000 incentive stock options to certain consultants of the Company. Each stock option has an exercise price of $0.95 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 Companys Stock Option Plan. For more information, please visit www.invictus-md.com. On Behalf of the Board, George E. Kveton Chief Executive Officer and Director Jessica Martin Vice President, Public Relations and Regulatory Affairs [phone]

[RaduBiris]

it looks like we are going back to $1.20 area.. US market is huge!

[Eoj123]

I'm a bit uncertain how the 3 way jv will function but I guess if they are not buying the 80% then they won't need to spend / raise $45 million. (if my memory of the deal is correct)??

[display_name]

Probably a net benefit? Idk without revised conditions being stated it's tough to say but I'd expect them not spending 42 mil to be a positive? I'd like to hear what is happening to the incentive goals whuh were laid put for Z3 on the assumption of partial ownership by the JV partner's. Im hoping those are being scrapped in favor of some more straightforward cost and revenue

[StockTakers]

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