VANCOUVER, April 27, 2017 /CNW/ - Trevor Dixon ("TD") and Brenda Dixon ("BD") announced today that on April 25, 2017, Invictus MD Strategies Corp. ("Invictus") closed its option to acquire 100% of the shares of Acreage Pharms Ltd. ("Acreage Pharms") pursuant to an option agreement between Invictus and the shareholders of Acreage Pharms, being Trevor Dixon and Brenda Dixon, each of whom held 50% of the shares of Acreage Pharms. As consideration for the shares of Acreage Pharms, Invictus issued to each of TD and BD 10 million common shares of Invictus ("Common Shares") and 1.5 million warrants to acquire Common Shares ("Warrants"). The warrants are exercisable into Common Shares at an exercise price of $1.50 per Common Share. One-third of the Warrants will expire in 6, 12 and 18 months following April 25, 2017. On a partially diluted basis, each of TD and BD has acquired beneficial ownership of 11.5 million Common Shares, or 19.31% of the Common Shares of Invictus. Each of TD and BD sold 50% of the shares of Acreage Pharms sold for a cash payment of $3 million (which includes the repayment of a shareholder loan in the amount of $1 million) plus 10 million Common Shares valued at $1.50 each, or $17 million in total value attributable to the consideration for the shares of Acreage Pharms. TD and BD are not acting jointly or in concert. The head office of Invictus is located at 1108 – 1238 Seymour Street, Vancouver BC, V6B 6J3. The address of TD is 2944 Gorman Rd, West Kelowna BC V4T 1H5, and the address of BD is Box 51 Peers Alberta T0E 1W0.
This press release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters.
SOURCE Trevor Dixon and Brenda Dixon
For further information: A copy of the related early warning reports from TD and BD may be obtained by contacting TD or BD (each of whom has been appointed as of officer of Invcitus) at Invictus, tel: 604-368-6437.