Effective November 30, 2015, Invictus MD Strategies Corp. (IMH:CNX) (IVITF) , a Vancouver-based company that assists companies with business process integration and by structuring and deploying proper capital to support sustained growth, has sold 100% of its shares in Cannabis Health Sciences Inc., and 35% interest in Focus Distribution LLC, operating as Smokazon.com.
Cannabis Health shares were sold to an arm’s length party in exchange for a $275,000 consideration consisting of $25,000 cash and $250,000 in deferred advertising. Invictus MD will also receive a three percent perpetual royalty based on gross sales generated by Cannabis Health to begin 12 months after the Closing Date. The Smokazon shares were also sold to an arm’s length party in exchange for consideration of $95,000 to be payable monthly, beginning on the 18th month from the Closing Date. The payout will be subject to Smokazon achieving certain gross monthly sales revenues, and the payout will be based on a range from 15% to 25% of the monthly net revenue.
“When I founded this Company in December 2014 the vision was to raise capital and deploy it by acquiring various companies that are both horizontally and vertically synergistic,” said Dan Kriznic, President and CEO of Invictus MD. “Almost one year later we shifted the vision to focus on two of our key assets including Future Harvest Development Ltd. and Edison Vape Co. Ltd. We pride ourselves on being a very nimble organization that keeps a pulse on industry economics at all times. We are quick to make necessary decisions that have a positive impact on our shareholders which has resulted in the sale of Cannabis Health and Smokazon.”
Invictus MD targets companies with proven brands, strong customer focus, and significant growth potential. The company 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.
This past November, Invictus MD’s board of directors approved a spin-out of its interest in Future Harvest Development Ltd., which the company acquired majority control this past June, into a newly formed public company. This will provide shareholders of Invictus MD with an equal number of shares in Future Harvest as of the record date. It was also recently reported that Future Harvest continued to achieve record-breaking sales, achieving a 75% increase in sales over the last quarter.
“Going forward our goal is to spin out Future Harvest into a new public company. Following completion of the spin out, Invictus MD intends to change its name to Edison Vape Co. to reflect the core asset remaining. This will allow us to focus time and capital independently to Future Harvest and Edison and provide shareholders with an investment in two segregated assets. The management of day to day operations in these two companies are independent making this a seamless transition. We will continue to oversee both operations as we continue to build shareholder value.”
For more information about Invictus MD, visit www.invictus-md.com.
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