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Invictus Completes $2.5 - $ 6 Million Loan and Wholesale Supply Agreement with GTEC to Support Retail Cannabis Expansion

Published: 10/23/2018

Team: Stephen I. Selznick, Andrew Dilts

Invictus MD Strategies Corp. has completed arrangements to lend GTEC Holdings Ltd. $2.5 million in two tranches as part of a non-revolving convertible loan facility the proceeds of which will be used by GTEC to expand and develop its cannabis retail strategy in Canada.  On terms, the non-revolving loan facility may be increased to $6 million. As part of the arrangement, Invictus MD has been afford as first right of refusal to supply up to 30% of GTEC’s third party cannabis supply requirements.

Cassels Brock acted for Invictus with a deal team that included Stephen Selznick (Business, Intellectual Property and Cannabis) and Andrew Dilts (Business).