Mr. Marc Ripa reports

INVICTUS ANNOUNCES $5,700,000 CONVERTIBLE DEBENTURE FINANCING

Invictus MD Strategies Corp. has signed a binding letter of intent dated Dec. 11, 2019, with Unified Cannabis Corp. of Calgary, Alta., pursuant to which Unified, subject to acceptance by the TSX Venture Exchange, has agreed, by way of a non-brokered private placement, to subscribe for secured convertible debentures in the principal amount of $5.7-million with a maturity date of Dec. 31, 2020, and 29,223,212 common share purchase warrants with an exercise price of 19.505 cents per common share of the company and an expiry date of Dec. 21, 2020.

From the issued date of the debentures until the maturity date, the outstanding principal under the debentures will be convertible, at the option of Unified, into common shares at a conversion price of 19.505 cents per common share. Interest on the debentures will accrue at a rate of 8 per cent per annum. At the election of the company, the interest accrued on the debentures may, subject to approval of the exchange, be convertible into common shares at a conversion price of 19.505 cents per common share. The debentures will be secured by way of a second charge against Acreage Pharms Ltd.'s facility located in Yellowhead county, Alberta.

The proceeds of the private placement are expected be used to finance the completion of the phase III west wing of the company's wholly owned subsidiary, Acreage Pharms, and general working capital purposes.

The closing date of the private placement is anticipated to be no later than Dec. 31, 2019. On the closing date, two individuals nominated by Unified will be appointed to the board of directors of the company.

Closing of the private placement is subject to all necessary regulatory and stock exchange approvals. All securities issued in connection with the private placement will be subject to a four-month hold period from the date of issue under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

In connection with the private placement, the company has agreed to pay certain finders an aggregate total cash finder's fee equal to 5 per cent of the gross proceeds of the private placement.

About Invictus MD Strategies Corp.

Invictus is a global cannabis company with a focus on the Canadian cannabis space, offering a selection of products under a wide range of cannabinoid profiles that fit the demand of the company's medical clients and retail customers. The company's integrated sales approach is defined by five pillars of distribution including medical, adult-use, international, licensed producer to licensed producer and sales to provinces.

We seek Safe Harbor.