Invictus MD Strategies Corp. (IVITF)

[jupp]

Invictus MD to cancel 16.4 million common shares


2015-06-25 09:03 ET - News Release


Mr. Dan Kriznic reports

INVICTUS MD TO CANCEL 16.4 MILLION SHARES

The shareholders of Invictus MD Strategies Corp. approved all matters at the company's annual general meeting held on June 24, 2015, as follows:

Setting the number of directors at three;
The election of Dan Kriznic, Drew Lawrenson and Colin Kinsley as directors of the company for the ensuing year;
The appointment of Manning Elliott LLP as auditor of the company for the ensuing year;
The creation of a new class of non-voting and non-participating preferred shares (Class A preferred shares).
The company intends to enter into agreements with certain escrowed shareholders whereby approximately 16.4 million escrowed common shares will be voluntarily cancelled and replaced with Class A preferred shares, which will be subject to the same escrow release schedules. The Class A preferred shares will only become convertible into common shares if and when released from escrow. For more information, see the company's information circular dated May 25, 2015.

Following completion of the voluntary return of escrowed common shares, Invictus MD anticipates the total number of common shares outstanding to be reduced to approximately 35,038,384 from the current 51,438,384.

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