VANCOUVER, March 24, 2020 /CNW/ - INVICTUS MD STRATEGIES CORP. (NEX: GENE.H;) (the "Company") announced that the Company, Greener Pastures MD Ltd., Acreage Pharms Ltd. ("Acreage") and 2015059 Alberta Ltd. (collectively, the "Invictus Group") have received an order (the "Order") from the Supreme Court of British Columbia (the "Court") that approves the Invictus Group's proposed sale and investment solicitation process ("SISP") in respect of their businesses and assets in connection with the Invictus Group's ongoing Companies' Creditors Arrangement Act ("CCAA") proceedings.
Under the SISP, the Invictus Group, together with its Chief Restructuring Officer ("CRO") has commenced soliciting proposals from potential interested parties for the acquisition of, or investment in, the Invictus Group or their respective businesses and assets, all in accordance with the process and timelines provided for in the Order. The deadline for initial qualified non-binding letters of interest will be 5:00pm (Pacific Time) on April 24, 2020. Potential interested parties wishing to participate in the SISP should contact the Invictus Group or the CRO.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information regarding the Company's CCAA proceedings
Further information on the Order and SISP may be obtained from the website of PricewaterhouseCoopers Inc., in its capacity as Court-appointed monitor of the Invictus Group (the "Monitor"), at https://www.pwc.com/ca/invictus.
Invictus is a cannabis company with a focus on the Canadian cannabis space, offering a selection of products under a wide range of cannabinoid profiles that fit the demand of the Company's medical clients and retail customers.
For more information visit www.invictus-md.com.
Forward Looking Information
This news release includes certain statements and information that may constitute forward-looking information and statements within the meaning of applicable Canadian securities laws. Forward-looking statements may generally be identified by the use of the words "will", "continues", "anticipates" and "intends" and variations or similar expressions which include, but are not limited to, statements relating to the CCAA proceedings; SISP; CRO; operations of the Invictus Group; liquidity of the Invictus Group; and ability of the Invictus Group to continue operating as a going concern.
Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or result, changes in the CCAA proceedings or otherwise, except as required by applicable laws.
SOURCE Invictus MD Strategies
For further information: Harbir Toor, Chief Financial Officer, Phone: (236) 788-8134, Email: [email protected]; Additional enquiries for the CRO may be directed to: Pam Boparai, Email: [email protected]