Invictus MD Strategies spinout of Poda Technologies

INVICTUS MD STRATEGIES CORP. GENE:CA IVITF and Poda Technologies Ltd. (“Poda”) are pleased to announce the completion of the plan of arrangement to give effect to the spinout transaction (the “Arrangement”), as previously announced on August 21, 2018. The arrangement agreement between Invictus and Poda dated September 10, 2018, sets out the terms of the Arrangement. The Arrangement was voted on and approved by the Company’s shareholders at its 2018 Annual General and Special Meeting of Shareholders, held on October 18, 2018.

Pursuant to an arrangement agreement dated Sept. 10, 2018, an annual
general meeting of shareholders of the company on Oct. 18, 2018, and the final
court order issued by the Supreme Court of British Columbia on Oct. 23, 2018,
Invictus MD Strategies Corp. has completed a plan of arrangement under Section
288 of the Business Corporations Act (British Columbia). The plan of
arrangement was completed on Nov. 8, 2018, and has resulted in the Invictus
spinning out its wholly owned subsidiary, Poda Technologies Ltd.

The arrangement was completed pursuant to letters of transmittal. Pursuant
to the arrangement, Invictus will: (i) subdivide the common shares of Poda such
that the number of Poda shares following the subdivision are equal to the number
of company shares; (ii) eliminate the Class A preferred shares in the capital
of the company; (iii) alter the Invictus shares by changing their identifying
name to Class A common shares (the old Invictus shares); and (iv) create an
unlimited number of common shares without par value (the new Invictus shares).
Each issued Invictus share will be exchanged for one new Invictus share and one
Poda share.

No Poda shares will be listed for trading on the exchange.

The plan of arrangement is fully described in Invictus’s information
circular dated Sept. 14, 2018.

Substitutional listing

In accordance with the above-referenced arrangement, Invictus shareholders
who previously held common shares (the old Invictus shares) will have their old
Invictus shares redesignated as Class A common shares and exchanged on a
one-for-one basis for a new class of common shares (the new Invictus shares).
Accordingly, the new Invictus shares will be listed on the exchange at the
market opening, Wednesday, Nov. 15, 2018.

In the interest of full disclosure, we call the
reader’s attention to the fact that Equities.com, Inc. is compensated by the
companies profiled in the Spotlight Companies section. The purpose of these
profiles is to provide awareness of these companies to investors in the micro,
small-cap and growth equity community and should not in any way be considered
as a recommendation to buy, sell or hold these securities. Equities.com is not
a registered broker dealer, investment advisor, financial analyst, investment
banker or other investment professional. We are a publisher of original and
third party news and information. All profiles are based on information that is
available to the public. The information contained herein should not be
considered to be complete and is not guaranteed by Equities.com to be free from
misstatement or errors. The views expressed are our own and not intended to be
the basis for any investment decision. Readers are reminded to do their own due
diligence when researching any companies mentioned on this website. Always bear
in mind that investing in early-stage companies is risky and you are encouraged
to only invest an amount that you can afford to lose completely without any
change in your lifestyle. Equities has been compensated with cash, common
shares and/or warrants for market awareness services provided.