The Canadian company Invictus MD Strategies Corp. (IVITF) appointed Gene Simmons, rock ‘n’ roll legend and co-founder of KISS, to the position of Chief Evangelist Officer within the company. Gene’s responsibilities are to serve as marketing counsel, media spokesperson, make public appearances, and participate in meetings with investors.
The deal was met with a cash payment of $2.5 million, an issuance of 2,3631,141 common shares of IVITF to purchase all shares of Gene-Etics Strains Co. from Gene, 1,973,355 common shares, and lastly a second batch of 1,973,555 common shares by January of 2019.
The news to the addition of Gene within Invictus did nothing for the company’s shares and closed at no change for two days. Then the value dropped an almost 5% but returned after the weekend. The stock currently trades at a 0.90% decrease per share since the initial news.
However, since Gene Simmons is responsible for marketing counsel and being a media spokesperson, it is possible that in the next coming months there will be print or digital marketing media with Gene prominently featured. This definitely could have an impact on the value of IVITF stock since a large celebrity endorsement of this scale has never been done before.
Invictus is an investor in multiple cannabis companies that seek to benefit from the increased brand awareness. They have a 100% investment in Acreage Pharms Ltd., 50% in AB Laboratories Inc., and an 82.5% investment in Future Harvest Development Ltd.