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INVICTUS MD STRATEGIES CORP. Information Form January... · PDF file Invictus MD...

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    ANNUAL INFORMATION FORM

    For the year ended January 31, 2019

    Dated: May 24, 2019

    INVICTUS MD STRATEGIES CORP.

    16th Floor – 595 Burrard Street Vancouver, British Columbia, Canada V7X 1J1

    Telephone: 1 (844) 800-6086 E-Mail: [email protected]

    Website: www.invictus-md.com  

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    TABLE OF CONTENTS Page EXPLANATORY NOTES AND CAUTIONARY STATEMENTS ....................................................... 2

    Cautionary Statement Regarding Forward-Looking Statements ............................................................ 2 CORPORATE STRUCTURE ................................................................................................................... 6

    Corporate Structure ................................................................................................................................ 6 Organization Chart ................................................................................................................................. 7

    GENERAL DEVELOPMENT OF THE BUSINESS .............................................................................. 8 Three Year History and Significant Events ............................................................................................ 9

    DESCRIPTION OF THE BUSINESS ..................................................................................................... 13 RISK FACTORS ....................................................................................................................................... 23 ASSET-BACKED SECURITIES OUTSTANDING .............................................................................. 35 DIVIDENDS AND DISTRIBUTIONS .................................................................................................... 35 DESCRIPTION OF CAPITAL STRUCTURE ...................................................................................... 36

    Authorized Capital ............................................................................................................................... 36 MARKET FOR SECURITIES ................................................................................................................ 36

    Trading Price and Volume.................................................................................................................... 36 Prior Sales ............................................................................................................................................. 38

    ESCROWED SECURITIES AND SECURITIES SUBJECT TO CONTRACTUAL RESTRICTIONS ON TRANSFER ......................................................................................................... 38 DIRECTORS AND OFFICERS .............................................................................................................. 39

    Name, Occupation and Security Holding ............................................................................................. 39 Cease Trade Orders, Bankruptcies, Penalties or Sanctions .................................................................. 40 Conflicts of Interest .............................................................................................................................. 41

    PROMOTERS ........................................................................................................................................... 42 LEGAL PROCEEDINGS ........................................................................................................................ 42 REGULATORY ACTIONS ..................................................................................................................... 42 INTEREST OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS .................. 42 TRANSFER AGENTS AND REGISTRARS ......................................................................................... 42 MATERIAL CONTRACTS .................................................................................................................... 42 INTERESTS OF EXPERTS .................................................................................................................... 43

    Names of Experts ................................................................................................................................. 43 CERTAIN CORPORATE GOVERANCE CONSIDERATIONS ....................................................... 43

    Independence of Members of Board .................................................................................................... 43 Participation of Directors in Other Reporting Issuers .......................................................................... 44 Director Term Limits, Appointments and Assessments ....................................................................... 44

    AUDIT COMMITTEE INFORMATION .............................................................................................. 45 External Auditor Service Fees (By Category) ...................................................................................... 46 Exemption ............................................................................................................................................ 46

    ADDITIONAL INFORMATION ............................................................................................................ 46 APPENDIX "A" AUDIT COMMITTEE MANDATE ......................................................................... 48

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    EXPLANATORY NOTES AND CAUTIONARY STATEMENTS

    In this Annual Information Form ("AIF"), Invictus MD Strategies Corp. and its subsidiaries, and the Company’s interest in affiliated companies, are collectively referred to as the "Company" or "Invictus", unless specifically identified otherwise. All information in this AIF is as of January 31, 2019 unless otherwise indicated.

    Currency All dollar amounts in this AIF are stated in Canadian dollars, unless otherwise specified. International Financial Reporting Standards Financial information in this AIF is presented in accordance with the International Financial Reporting Standards as issued by the International Accounting Standards Board and with interpretations of the International Financial Reporting Interpretations Committee which the Canadian Accounting Standards Board has approved for incorporation into Part 1 of the CPA Canada Handbook - Accounting. Other The Company’s website is referred to herein for informational purposes only. Information contained on the Company’s website should not be deemed to be a part of this AIF.

    Cautionary Statement Regarding Forward-Looking Statements This AIF contains certain statements which may constitute "forward-looking information" within the meaning of the Canadian securities law requirements (collectively, "forward-looking statements").

    In some cases, these forward-looking statements can be identified by words or phrases such as "may", "might", "will", "expect", "anticipate", "estimate", "intend", "plan", "indicate", "seek", "believe", "predict" or "likely", or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The Company has based these forward-looking statements on its current expectations and projections about future events and financial trends that it believes might affect its financial condition, results of operations, business strategy and financial needs. These forward-looking statements include, among other things, statements relating to:

     the Company’s expectations regarding its revenue, expenses and operations;  the Company’s anticipated cash needs and its needs for additional financing;  the Company’s intention to grow the business and its operations;  expectations with respect to future production costs and capacity;  expectations regarding our growth rates and growth plans and strategies;  expectations with respect to the approval of the Company’s licenses;  expectations regarding the Company securing international alliances and entering into

    agreements with foreign entities;  expectations with respect to the future growth of its cannabis products and general products;  the medical benefits, safety, efficacy, dosing and social acceptance of cannabis;

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    Invictus MD Strategies Corp. Annual Information Form May 24, 2019 Page 3 of 53  

     the Company’s competitive position and the regulatory environment in which the Company operates;

     any commentary related to the legalization of adult-use, recreational cannabis and the timing related to such legalization;

     the Company’s expected business objectives for the next twelve months;  our plans with respect to the payment of dividends;  beliefs and intentions regarding the ownership of material trademarks and domain names used

    in connection with the design, production, marketing, distribution and sale of our products; and

     the Company’s ability to obtain additional funds through the sale of equity or debt commitments.

    Forward-looking statements are based on certain assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate and are subject to risks and uncertainties. In making the forward looking statements included in this AIF, the Company has made various material assumptions, including but not limited to (i) obtaining the necessary regul

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