Invictus MD Strategies Corp IVITF

Invictus to report possible bidders Tues, Mar 10

[Yowza123]

Things will pick up next Tuesday, March 10th. That's when Invictus has to announce whether or not it has received any bids towards owning a part or all of Invictus.

It's also when they have to put an ad in the Globe and Mail to let any new possible bidders know the company is for sale or perhaps open to mergers, joint ventures etc. The deadline for bids is April 17th, 2020. If there are no bidders opened to being accepted by voting shareholders, then a Phase 2 of bidding will commence until May 19, 2020.

Also, while this happens, Invictus will be involved in an intensive restructuring period to figure out a more productive path. A successful restructuring could eliminate the need to get sold etc.

All these activities have been approved by the Supreme Court of British Columbia and are being closely monitored by the monitoring group, Price Waterhouse Cooper. There is no room for any fudging of numbers etc. All eyes are on the company as it moves onwards towards a brighter future.

Here's the link to Price Waterhouse Cooper's site to follow the newest actual proceedings as they become available.
https://www.pwc.com/ca/invictus

[jlurban6731]

Is this the same as filing for bankruptcy? 

[Eoj123]

Meanwhile Canopy is shuttering grow facilities in BC and elsewhere so you keep that tinfoal hat pulled down snug as I'm sure there will be a lineup to buy Ivictus's junk and your shares when and if it ever trades again

[Yowza123]

In Canada, companies can get approved for creditor protection if it seems there is hope for the company and therfore more likely loan payments can continue to be made. That is what Invictus is doing. They have until the end of May to try to restructure or find investors for the company. If they succeed in restructuring they could get another extension by their creditors and the court. Hopefully

[Yowza123]

So no, it's not the same as bankruptcy

[burnout29]

This post has been removed in accordance with Community Policy

[SkataNaFuss]

When can we start trading again?

[Eoj123]

LOL, yeah there's a rush to do that. I'm sure you'll feel much better after that happens

[SkataNaFuss]

Lol, if I can get rid of these at 4 cents, I'd be losing half my investment on this one. Lots of $$$ to be made when things calm down for those that have cash on other heavily discounted stocks.

[DanielDarden123]

Date changed to Mar. 20/20 according to PWC website.

[gamos99]

Yep, all info is here:   https://www.pwc.com/ca/en/services/insolvency-assignments/invictus/sisp.html

[Yowza123]

Phase 1 bid deadline also moved up to Apr. 24, 2020.