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Vancouver, BC / TheNewswire / July 2, 2015 - INVICTUS MD STRATEGIES CORP. ("Invictus MD" or the "Company") (CSE: IMH; OTC: IVITF; FRA: 8IS) is pleased to announce that further to its news release dated June 24, 2015, the Company has acquired, indirectly through its subsidiary, Prestige Worldwide Holdings Inc., an additional 26.25% of the shares of Future Harvest Development Ltd. ("Future Harvest") pursuant to the purchase and sale agreement dated March 3, 2015. The Company's total interest in Future Harvest is now 60%.
Key financial highlights of Future Harvest include:
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-Approximately $4.95 million in revenue earned for the 12 months ended June 30, 2015;
-Inventory of approximately $1.3 million as at June 30, 2015;
-Accounts receivable of approximately $700,000 as at June 30, 2015; and
-Working capital of approximately $1.6 million as at June 30, 2015.
In exchange for the additional 26.25% of the shares of Future Harvest, the Company paid $285,000 in cash and, at the option of the Future Harvest shareholders, issued 2,750,001 shares at a deemed price of $0.135 per share. The Company has the option to acquire an additional 15% of the Future Harvest shares by December 31, 2015.
Byron Sheppard, Founder and President of Future Harvest commented, "After 21 years of building this company to the success it is today, I am confident that the team at Invictus possesses the acumen and experience to take it to the next level. As a shareholder of Invictus, I am thrilled to see this milestone achievement and look forward to realizing Future Harvest's full potential."
Loan Agreement with Dan Kriznic
In order to finance the accelerated acquisition of Future Harvest, the Company received a $300,000 secured and convertible non-interest bearing loan from Dan Kriznic, President and CEO of Invictus MD, through his wholly-owned company. The loan is convertible into common shares at the lender's option at a deemed price equal to the greater of $0.18 and the lowest per share price permitted by any applicable stock exchange rules. As consideration for the loan, 333,333 bonus common shares were issued.
About Future Harvest Development Ltd.
For over 20 years, Future Harvest has brought innovative products and solutions to the hydroponic and indoor growing industries. Future Harvest's product lines are available through leading distributors and retailers across North America, the United Kingdom and Europe and include SunBlaster Lighting(TM), Nutradip, Plantlife Products and Future Harvest Plastics, as well as the patented Nano-Dome and Grow Light Garden systems currently sold at major hardware and home garden centers across North America.
The SunBlaster Lighting(TM) line has introduced a variety of innovative lighting products to both the hydroponic and indoor growing industries. SunBlaster T5HO lighting fixtures and CFL self ballasted lamps are industry leaders and a great example of Future Harvest's commitment to providing customers with the best possible lighting for all their growing needs.
Future Harvest has been manufacturing metering and monitoring equipment for over fifteen years. The most popular and industry standard is the Trimeter, made famous because a single glance tells you if your pH, nutrients and temperatures are on target. All Nutradip and SunBlaster products are developed, designed, tested and assembled in Canada.
Plantlife Products consists of 29 proprietary formulas that offer growers the leading edge in sediment free plant nutrition. Every product has been developed and tested in-house by Future Harvest's own plant scientists.
For more information please visit www.futureharvest.com.
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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