TORONTO, April 27 2017 /CNW/ -The K2 Principal Fund L.P. ("K2") announced that as of April 26, 2017 K2 is no longer an insider of Invictus MD Strategies Corp. ("IMH") of 1108 – 1238 Seymour Street, Vancouver British Columbia V6B 6J3. The reduction in percentage holdings is a result of sales of 602,500 shares and the issuance of shares by IMH. Between April 19, 2017 and April 21,2017 K2 sold 602,500 shares with sale prices between $ 1.92 and $ 2.04 per share for total proceeds of $1,211,018.76. These sales were executed on the TSX Venture Exchange.
As of April 18, 2017, the Partnership held 3,982,800 common shares and 2,612,100 warrants of the issuer representing approximately 15.2 % of the shares outstanding.
On April 26 2017 IMH completed the purchase of Acreage Pharms Ltd and issued 20 million common shares.
After the disposition stated above the Partnership holds 3,380,300 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 5,992,400 common shares of IMH, representing approximately 9.9% of the issued and outstanding common shares of IMH on a partially diluted basis.
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