TORONTO, Oct. 16, 2017 /CNW/ - The K2 Principal Fund L.P. ("K2") announced that as of October 16, 2017 K2 is no longer an insider of Invictus MD Strategies Corp. ("IMH") of Suite 3123, 595 Burrard Street, Three Bentall Centre. Vancouver, British Columbia, V7X 1J1. The reduction in percentage holdings is a result of sales of 3,837,500 shares. Between July 24, 2017 and October 16, 2017 K2 sold 3,837,500 shares with sale prices between $ 1.18 and $ 1.42 per share for total proceeds of $4,887,046.35. These sales were executed on the TSX Venture Exchange.
As of July 23, 2017, the Partnership held 6,840,000 common shares and 5,262,100 share purchase warrants for the purchase of an additional 5,262,100 common shares of the issuer. Assuming the exercise of the warrants K2 would have owned a total of 12,102,100 common shares of the issuer, representing approximately 14.18% of the issued and outstanding common shares of the issuer, on a partially diluted basis.
After the disposition stated above the Partnership holds 3,002,500 common shares and 5,262,100 share purchase warrants for the purchase of an additional 5,262,100 common shares of IMH. Assuming the exercise of the warrants K2 would own a total of 8,264,600 common shares of IMH, representing approximately 9.68% 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: Daniel Gosselin, The K2 Principal Fund L.P., (416) 365-2155