Invictus MD Strategies Corp (IVITF)

[Abundance88]

Invictus Update from PWC website

Status Update as at March 31, 2020
General

As noted in the February 24, 2020 update the stay of proceeding was extended to May 29, 2020. We are preparing this brief update for stakeholders and other interested parties.

Operations

Since February 24, 2020 the Invictus Group has finalized its interim financing agreement, securing $3,000,000 of funding to pay amounts pursuant to the Amended and Restated Initial Order as contemplated in the Company’s Cash Flow Statement filed in these proceedings.

On March 27, 2020 the Invictus Group received their renewed license under the Cannabis Act and Cannabis Regulations from Health Canada.

The Invictus Group continues to operate in the ordinary course during the CCAA proceedings.

SISP

The Chief Restructuring Officer, Pam Boparai on behalf of the Company, with the assistance of the Monitor commenced the SISP on March 19, 2020. The SISP was advertised in the Globe and Mail on March 24, 2020 and the Company issued a press release on the same day.

The deadline to submit non-binding expressions of interest to the CRO and the Monitor is 5:00 PM (Pacific Time) on April 24, 2020.

https://www.pwc.com/ca/invictus