World News: 14:00 GMT Wednesday 15th May 2019. [Invictus via Globe Newswire via SPi World News]
Vancouver, May 15, 2019 (GLOBE NEWSWIRE) -- announced today that the Company is withdrawing plans to list the Company’s common shares (the “Shares”) on NASDAQ Stock Market LLC (“NASDAQ”), as well as plans for the share consolidation that would have been required to meet NASDAQ’s minimum share price listing threshold. Plans for the NASDAQ listing and a share consolidation were originally announced in press releases dated January 17, 2019 and January 21, 2019.
“The intended timing of a NASDAQ uplist was premature and underway prior to my assumption of responsibilities,” said George E. Kveton, CEO of Invictus. “At present, the Company is fully devoted to bringing its purpose-built indoor cultivation facilities into production and getting the Company’s products into the hands of our adult recreational and medical consumers across key provinces.”
The Board of Directors of the Company anticipates that it will revisit the merits of a NASDAQ listing in the future.
The Company’s Shares will continue to trade on the TSXV under the ticker symbol “GENE”, on the OTCQB® Venture Market in the United States under the symbol “IVITF” and on the Frankfurt Stock Exchange under the ticker symbol “8IS2”.
For more information about Invictus, please visit .
On Behalf of the Board,
George E. Kveton Chief Executive Officer and Director
Invictus is a global cannabis company offering a selection of products under a wide range of brands. Our integrated sales approach is defined by five pillars of distribution including medical, adult-use, international, Licensed Producer to Licensed Producer and retail stores. Invictus has partnered with business leaders to convey our corporate vision, including KISS music legend and business mogul Gene Simmons as our Chief Evangelist Officer. To meet growing demand, Invictus is expanding its cultivation footprint, with three cannabis production facilities licensed under the Cannabis Act and Cannabis Regulations in Canada. To accommodate international sales, Invictus’ wholly-owned subsidiary, Acreage Pharms Ltd. (“Acreage Pharms”), has designed and is currently building its Phase 3 purpose-built cultivation facility to be European Union Good Manufacturing Practices (“EU-GMP”) compliant. The Company is targeting up to 50 percent of production to medical cannabis. To ensure consistency in quality and supply, Invictus maintains all aspects of the growing process through its subsidiary, Future Harvest Development Ltd. (“Future Harvest”), a high-quality fertilizer and nutrients manufacturer. Invictus drives sustainable long-term shareholder value through a diversified product portfolio with over 70 Health Canada approved strains and a multifaceted distribution strategy including medical, adult-use, international, Licensed Producer to Licensed Producer and retail stores. For more information visit .
Invictus MD Strategies Corp.
Globe Newswire: 14:00 GMT Wednesday 15th May 2019
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