Invictus Announces Multiple Canadian Cannabis Acquisitions

1970
Invictus MD Strategies

Invictus MD Strategies Corp (TSXV: GENE) announced multiple corporate acquisitions in the Canadian cannabis space this Friday. Most notably would be the company’s strategic merger with GTEC Holdings for $100 million in stock, which would make the combined entity the largest vertically integrated indoor marijuana producer in Western Canada.



We have been pleased with the continued execution of the team and business strategy at GTEC. The dedication to producing a premium product medical and adult-use recreational portfolio for the industry has always been our relentless pursuit,” said Invictus CEO George Kveton. “This merger allows for both companies to leverage the combined core competencies to further execute our vision to be at the forefront of the Canadian cannabis industry and beyond.”

The proposed transaction would require a minimum 2/3rd majority vote by shareholders at an upcoming special meeting, and would also need regulatory approval from the government of British Columbia. The agreement would include the acquisition of a 400,000 square feet indoor cultivation facility, along with 30 plus retail stores distributed across British Columbia, Alberta, and Saskatchewan.

As we now see the cannabis industry shift into non-medical use in Canada, and further medical markets expanding globally, this merger is synergistic and complementary. Combined, we offer a much stronger team with aligned visions on executing a pathway to become a global leader within the cannabis industry,” added GTEC CEO Norton Singhavon.

At the same time, Invictus also announced an acquisition of another prominent BC grower Canandia, with two properties located in Mission and Delta British Columbia. Just as in the case with the GTEC acquisition, Invictus would be purchasing all outstanding shares of Canandia in a transaction amounting to $29.4 million.

Canandia CEO Alon Amit went on to say that “After careful market consideration, we decided that combined Canandia’s current and planned production capacity with the highly qualified management team and financial might of Invictus will result in a sum greater than its parts. Together we expect to expeditiously implement our staged growth plan so as to bring high-quality products to our adult consumers.”

As the market deals with the cannabis shortage facing the country, Invictus’s corporate strategy remains focused on scaling up production capacity via mergers and acquisitions, and expect to have over an extra 200,000 square feet of new cultivation capacity operational by the first quarter of 2019. It’s a philosophy that many major companies in the space are pursuing as smaller operations are getting gobbled up in a new era of cannabis consolidation across the country.

Invictus Company Profile

Invictus is a global cannabis company offering a selection of products under a wide range of brands. Our integrated sales approach is defined by five pillars of distribution including medical, adult-use, international, Licensed Producer to Licensed Producer and retail stores. – Invictus

GTEC Holdings Company Profile

GTEC was founded in 2017 to capitalize on opportunities in the nascent and rapidly growing legal cannabis industry. GTEC is a public corporation listed on the TSX Venture Exchange and based in Kelowna, British Columbia. GTEC is focused on growing premium quality craft cannabis in purpose-built indoor facilities.



GTEC currently holds a 100% interest in GreenTec Bio-Pharmaceuticals Corp., Alberta Craft Cannabis Inc. Grey Bruce Farms Inc., Tumbleweed Farms Corp., Zenalytic Laboratories Ltd., and Spectre Labs Inc. – GTEC Holdings

IMAGE CREDIT

NO COMMENTS