TORONTO, April 19, 2017 /CNW/ - The K2 Principal Fund L.P. ("K2") announced that as of April 18, 2017 K2 sold an aggregate of 1,376,000 common shares of Invictus MD Strategies Corp. ("IMH") of 1108 – 1238 Seymour Street, Vancouver British Columbia V6B 6J3. The shares were sold between December 21 2016 and April 18 2017 with sale prices between $ 1.33 and $ 1.98 per share for a total proceeds of $2,284,779.48. Sales done between December 21 2016 and March 30 2017 were done on the Canadian Securities Exchange and any subsequent sales were executed on the TSX Venture Exchange.
As of December, 1 2016, the Partnership held 2,800,000 common shares and 1,400,000 warrants of the issuer representing approximately 17.9 % of the shares outstanding.
On March 2 2017 IMH completed a private placement of 9,829,130 units (each unit comprised on 1 common share and one warrant). K2 did participate in the private placement which did not materially change K2s holding as such it did not trigger an early warning report.
After the disposition stated above the Partnership holds 3,982,800 common shares and 2,612,100 share purchase warrants for the purchase of an additional 2,612,100 common shares of IMH. Assuming the exercise of the warrants K2 would own a total of 6,594,900 common shares of IMH, representing approximately 15.2% of the issued and outstanding common shares of IMH.
K2 disposed of the securities for investment purposes only and may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over, or exercise its current rights to acquire, common shares or other securities of IMH through market transactions, private agreements or otherwise.
SOURCE K2 Principal Fund L.P.
For further information: Dan Gosselin, The K2 Principal Fund L.P., (416) 365-2155