Mr. Dan Kriznic reports

INVICTUS MD ANNOUNCES $20,000,000 BOUGHT DEAL PRIVATE PLACEMENT OF UNITS

Invictus MD Strategies Corp. has determined not to proceed with its previously announced offering of convertible debentures as set forth in a news release dated April 20, 2017, and instead will proceed with an offering of units with the same underwriting syndicate. Canaccord Genuity Corp. and Eventus Capital Corp., as co-lead underwriters and joint bookrunners, on behalf of a syndicate of underwriters, have agreed to purchase, on a bought deal private placement basis, subject to adjustment pursuant to the underwriters' option, 14.82 million units of the company at a price of $1.35 per unit for aggregate gross proceeds of $20-million. Invictus MD's board of directors determined that completing an equity financing on the terms of the offering aligns better with the company's strategic objectives than the previously announced convertible debenture financing.

Invictus MD has also granted the underwriters an option to purchase up to an additional 3,705,000 units at the offering price, exercisable in whole or in part at any time for a period of 48 hours prior to the closing of the offering. If the underwriters' option is exercised in full, the aggregate gross proceeds of the offering will be $25-million.

Each unit will comprise one common share of the company and one-half of one common share purchase warrant. Each whole warrant will be exercisable to acquire one common share for a period of 18 months following the closing date of the offering at an exercise price of $1.75 per warrant share. Net proceeds from the offering will be used for expansion plans for the company's assets and for general working capital purposes.

All securities issued or issuable under the offering will be subject to a statutory hold period lasting four months and one day following the closing date.

Closing of the offering is expected to occur on or about May 24, 2017. The offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange.

About Invictus MD Strategies Corp.

Invictus MD is focused on three main verticals within the burgeoning Canadian cannabis sector: licensed producers under the ACMPR (access to cannabis for medical purposes regulations) located in both Alberta and Ontario, including Acreage Pharms Ltd. and AB Laboratories Inc.; fertilizer and nutrients through Future Harvest Development Ltd.; and cannabis data and delivery with its wholly owned subsidiary Poda Technologies Ltd.

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