IVITF - Invictus inks purchase agreement with Invictus Strategic Investment
Invictus MD Strategies ([[IVITF]] +22.5%) entered into an agreement for the issuance of 1.12B Invictus common shares or (subscribed shares).The subscriber of the Subscribed Shares is Invictus Strategic Investment (the Investor), a privately-owned company that is unrelated to the Company and its directors and officers. Upon completion of the transaction, the subscribed shares will be equal to 90% of Invictus' issued share capital and existing shareholders will retain an aggregate 10% interest in the Company.The subscription proceeds will be used to repay existing secured creditors of the Company, to pay costs associated with the CCAA proceedings involving the Company and its subsidiaries and to fund a plan of compromise and arrangement with the unsecured creditors of the Company. None of the subscription proceeds will be made available to existing shareholders of the Company.
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Invictus inks purchase agreement with Invictus Strategic Investment