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Vancouver, BC / TheNewswire / May 26, 2015 - INVICTUS MD STRATEGIES CORP. (the "Company") (CSE: IMH; FRA: 8IS) is pleased to announce the closing of its oversubscribed, non-brokered private placement (the "Offering"). Further to the April 27th, 2015 press release announcing the private placement of up to $500,000, the Company has generated aggregate gross proceeds of $813,100 through the issuance of 5,240,670 units (the "Units").
In addition to the first tranche closing of $491,575, the Company has now closed the second and final tranche of the Offering through the issuance of 2,143,504 Units at $0.15 per Unit for gross proceeds of $321,526. Each Unit consists of one common share and one transferable share purchase warrant exercisable at $0.25 for a period of 12 months from the date of issue.
Dan Kriznic, President and CEO, Kelsey Chin, CFO, and Colin Kinsley, Director of the Company acquired securities in the Offering. Mr. Kriznic, Ms. Chin, and Mr. Kinsley's participation is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued to or the consideration paid by such persons exceeded 25% of the Company's market capitalization.
Finder's fees paid in connection with the second tranche total $5,600 in cash, plus 37,333 finder's warrants to acquire common shares on the same terms as the warrants issued to subscribers. Securities issued pursuant to the second tranche are subject to a hold period and may not be traded until September 27, 2015.
The Company also announces the resignation of Mr. Herrick Lau from the Board of Directors, effective immediately. The Company wishes to thank Mr. Lau for his services and efforts and wishes him the best in his future endeavors.
About Invictus MD Strategies Corp.
Invictus MD targets companies with proven brands, strong customer focus, and significant growth potential. We not only provide capital to meet these objectives but also years of management experience from a team that has been successful in all facets of business from start-ups to running large international organizations. The fundamental core of our operations is centered on the vast opportunities within fragmented industries.
Invictus MD works in partnership with management teams to increase shareholder value through business planning and process integration, developing and executing growth strategies, leveraging our experience and relationships, and structuring and deploying the proper capital to support long-term growth. Our prudent approach to both investing in and developing successful companies ensures successful execution of the business plan in both times of economic expansion and contraction.
For more information please visit www.invictus-md.com.
On Behalf of the Board,
Dan Kriznic
Chairman & CEO
604-368-6437
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