Invictus MD to Cancel 16.4 Million Shares $IVITF
June 25, 2015, Investor Relations
Vancouver, BC, June 25th, 2015 – INVICTUS MD STRATEGIES CORP. (“Invictus MD” or the “Company”) (CSE: IMH; OTC: IVITF; FRA: 8IS) is pleased to announce that the shareholders of the Company approved all matters at its 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; and
the creation of a new class of non-voting and non-participating preferred shares (the “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.