Home > Boards > US OTC > Cannabis > Cannamerica Brands Corp. (CNNXF)

Found on TD Ameritrade dated April 3, 2019.

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MIMadman   Friday, 04/05/19 10:39:17 PM
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Found on TD Ameritrade dated April 3, 2019.

Invictus MD Strategies Corp. (OTCQX: IVITF) (TSX-V: GENE) is a global cannabis company offering a selection of products under a wide range of brands. The Company recently provided an update on its binding letter of intent to create a joint venture with Cannamerica Brands Corp. (CSE: CANA) (OTCQB: CNNXF) and CBDistribution Company Ltd., that was previously announced on January 7, 2019, with the intention of acquiring hemp biomass for extraction into CBD isolate using purpose-built facilities for large scale CBD extraction. The transaction is anticipated to close on or before March 31, 2019. Each of the parties involved have received approval from their respective Board of Directors to enter into the Joint Venture. Once the transaction is closed, the Joint Venture will mark the Company's entry into the CBD market in the United States. The Joint Venture will no longer be purchasing eighty percent (80%) of the membership interests of Z3 Sciences, LLC, as previously announced on January 16, 2019, due to a mutual decision made by all parties involved. Invictus has also granted 450,000 incentive stock options to certain consultants of the Company. Each stock option has an exercise price of USD 0.95 and is exercisable into one common share of the Company. The options vest immediately and are exercisable over a period of five years. The stock options were granted subject to the terms and conditions of the Company's Stock Option Plan.

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