Vancouver, BC / TheNewswire / November 4, 2015 - INVICTUS MD STRATEGIES CORP. ("Invictus MD" or the "Company") ($IMH:CNX) ($IVITF) (FRA: 8IS) is pleased to announce that the Company has received approval from its board of directors to complete a spin-out of its interest in Future Harvest Development Ltd. (“Future Harvest”) into a newly formed public company. The Company currently controls 60% of Future Harvest with an option to acquire up to 75%, which management intends on exercising prior to completion of the proposed spin-out.
Dan Kriznic, President and CEO commented, “The proposed spin-out of Future Harvest will provide shareholders of Invictus MD with an equal number of shares in Future Harvest as of the record date. The intended goal with Future Harvest is to roll up companies within an extremely fragmented industry. Management has been actively assessing and identifying potential opportunities. Previously, I was instrumental in rolling up companies within the education sector where revenues grew from approximately $15 million to $130 million within 5 years. We intend on deploying the same strategy with Future Harvest in the lawn and garden industry, which has recently experienced explosive growth. Roll ups require three main ingredients, including experienced management, a sunrise industry, and fragmented operators. We have all of those ingredients and intend on being very aggressive in executing our vision while increasing shareholder value.”
Lawn and garden is a $7.6 billion industry in the US, with fertilizer and consumables representing the largest portion of this market. Future Harvest has two main operating divisions, Plantlife Products fertilizer and Sunblaster horticultural lighting. Future Harvest is currently operating at a run rate of $6-7 million in revenue for the fiscal year ended June 30, 2016. Future Harvest has a broad range of customers in the United States, Canada, and Europe that support not only the hydroponic and indoor growing industry, but also the increasingly growing lawn and garden industry. Future Harvest has been a product innovator for over 20 years and has continued to generate record-breaking sales over prior years since the initial acquisition.
The Company expects the spin-out of Future Harvest to be completed by Spring 2016, subject to applicable regulatory and stock exchange approvals, and will continue to keep shareholders updated as necessary.
About Future Harvest Development Ltd.
For over 20 years, Future Harvest has brought innovative products and solutions to the hydroponic and indoor growing industries. Future Harvest’s product lines are available through leading distributors and retailers across North America, the United Kingdom and Europe and include SunBlaster Lighting™, Nutradip, Plantlife Products and Future Harvest Plastics, as well as the Nano-Dome and Grow Light Garden systems currently sold at major hardware and home garden centers across North America.
The SunBlaster Lighting™ line has introduced a variety of innovative lighting products to both the hydroponic and indoor growing industries. SunBlaster T5HO lighting fixtures and CFL self ballasted lamps are industry leaders and a great example of Future Harvest’s commitment to providing customers with the best possible lighting for all their growing needs.
Future Harvest has been manufacturing metering and monitoring equipment for over fifteen years. The most popular and industry standard is the Trimeter, made famous because a single glance tells you if your pH, nutrients and temperatures are on target. All Nutradip and SunBlaster products are developed, designed, tested and assembled in Canada.
Plantlife Products consists of 29 proprietary formulas that offer growers the leading edge in sediment free plant nutrition. Every product has been developed and tested in-house by Future Harvest’s own plant scientists.
For more information please visit www.futureharvest.com.
About Invictus MD Strategies Corp.
Invictus MD targets companies with proven brands, strong customer focus, and significant growth potential. We not only provide capital to meet these objectives but also years of management experience from a team that has been successful in all facets of business from start-ups to running large international organizations. The fundamental core of our operations is centered on the vast opportunities within fragmented industries.
Invictus MD works in partnership with management teams to increase shareholder value through business planning and process integration, developing and executing growth strategies, leveraging our experience and relationships, and structuring and deploying the proper capital to support long-term growth. Our prudent approach to both investing in and developing successful companies ensures successful execution of the business plan in both times of economic expansion and contraction.
For more information please visit www.invictus-md.com.
On Behalf of the Board,
Chairman & CEO
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may contain forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, including the timing and completion of the proposed spin-out of Future Harvest, and the forecasted revenue for Future Harvest, are forward-looking statements and contain forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including the assumptions that the proposed spin-out of Future Harvest will occur by Spring 2016, that the Company will obtain applicable regulatory and stock exchange approvals of the spin-out transaction, and that Future Harvest will generate approximately $6-7 million in revenue for the fiscal year end June 30, 2016, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including the risks that the proposed spin-out may not occur by Spring 2016 as planned, that the Company will not obtain applicable regulatory and stock exchange approvals or that Future Harvest may not generate the anticipated revenues. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbour.
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