VANCOUVER, BC -- May 31, 2017 -- InvestorsHub NewsWire
-- INVICTUS MD STRATEGIES CORP. (“Invictus MD” or
the “Company”) (TSXV: IMH; OTC: IVITF; FRA:
8IS) Canada’s Cannabis Company, is pleased to provide
a corporate update on the back of its recently closed bought deal
financing, and reprises its vision to expand and solidify its
cultivation portfolio.
“Following our successful financing with Canaccord Genuity
Corp., Eventus Capital Corp., Echelon Wealth Partners Inc., GMP
Securities L.P. and PI Financial Corp., including the
over-allotment option, for aggregate gross proceeds of $25,008,750,
Invictus MD is well capitalized and prepared for an exciting year
of growth,” said Dan Kriznic, Executive Chairman, Invictus MD. “Led
by one of the industry’s most experienced teams, we are strongly
focused on building our shareholder value. With 250 acres of
cultivation space that stretches from Alberta to Ontario, allowing
for purpose built production facilities rather than retrofitting
existing buildings, we now have the largest land package in Canada
for building cultivation facilities as demand increases and we will
continue the disciplined but agile execution of our business
strategy,” added Kriznic.
“When its management team visited TSX Venture Exchange (TSXV) on
May 5, 2017 and opened the trading day, we shared that celebration
with all those who have contributed to our success – especially our
team, the board, advisers and investors,” said Kriznic. “From our
early beginnings three years ago, we had a clear goal and the
desire to do something remarkable within this budding marketplace.
We have always taken pride in knowing we’re working towards
becoming a source of uncompromising quality of medical cannabis and
to be ready for the future new recreational market upon
legalization.
In early May, AB Ventures Inc. (“AB Ventures”), an incorporated
company formed to develop a second licensed expansion facility
through its common ownership with AB Laboratories Inc. (“AB Labs”)
a Licensed Producer under the Access to Cannabis for Medical
Purposes Regulations (“ACMPR”) which maintains a 16,000 square foot
facility located near Hamilton, Ontario, closed its 100-acre land
acquisition and once licensed under the ACMPR, will be used for
future cannabis cultivation. To facilitate the construction of the
initial 42,000 square foot cultivation facilities, with plans to
construct additional production facilities on the new land totaling
100,000 square feet, Mr. Michael Alezane has been appointed
construction manager. Considering the magnitude of AB Ventures’
land holdings and future production facilities, and assuming AB
Ventures obtains a license to produce the quantity forecasted for
the proposed facility, we will have the capacity for significant
growth to keep pace with the growing medical and future
recreational demand.
AB Labs, which has achieved full production capacity, recently
conducted its first harvest with very favorable results and will
shortly apply for its pre-sales inspection.
“The Company is focused on achieving increased production
profile growth in the near future. Cultivation began earlier in the
month at Acreage Pharms Ltd. (Acreage Pharms), a Licensed Producer
under the Access to Cannabis for Medical Purposes Regulations
(“ACMPR”),” stated Trevor Dixon, President and CEO of Invictus MD.
“Planning has begun for the Phase 2 build out; Acreage Pharms has
an existing 6,800 square foot production facility with an expansion
plan floor plate of 27,400 square feet, that sits on 150 acres of
land in West Central Alberta. To facilitate the construction of
Phase 2, Mr. Harmen Bangma has been appointed construction manager.
“ Alberta has low cost of production as a result of low energy and
water costs and provides the capability to construct facilities to
meet the demand that the coming adult recreational marijuana use
will create. Acreage Pharms also has plans to produce extracted or
oil based products oils are rapidly gaining market share in the
marijuana sector.
Invictus MDs’ wholly owned venture into consumer cannabis
devices; Poda Technologies Ltd. (“Poda”), is set imminently for a
spin out.
About Invictus MD Strategies Corp.
Invictus MD Strategies Corp., Canada’s Cannabis Company, is
focused on three main verticals within the burgeoning Canadian
cannabis sector: Licensed Producers under the ACMPR including
investment in the fully licensed facilities operated by AB
Laboratories Inc. and Acreage Pharms Ltd.; Fertilizer and Nutrients
through Future Harvest Development Ltd.; and Cannabis Data and
Delivery, with its wholly owned subsidiary Poda Technologies
Ltd.
For more information, please visit www.invictus-md.com.
On Behalf of the Board,
Dan Kriznic
Executive Chairman
Larry Heinzlmeir
Vice President, Marketing & Communications
604-537-8676
Cautionary Note Regarding Forward-Looking Statements: Statements
contained in this news release that are not historical facts are
“forward-looking information” or “forward-looking statements”
(collectively, “Forward-Looking Information”) within the meaning of
applicable Canadian securities legislation and the United States
Private Securities Litigation Reform Act of 1995. Forward Looking
Information includes, but is not limited to, disclosure regarding
possible events, conditions or financial performance that is based
on assumptions about future economic conditions and courses of
action; and the plans for completion of the Offering, expected use
of proceeds and business objectives. In certain cases,
Forward-Looking Information can be identified by the use of words
and phrases such as “anticipates”, “expects”, “understanding”, “has
agreed to” or variations of such words and phrases or statements
that certain actions, events or results “would”, “occur” or “be
achieved”. Although Invictus has attempted to identify important
factors that could affect Invictus and may cause actual actions,
events or results to differ materially from those described in
Forward-Looking Information, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended, including, without limitation, the risks and
uncertainties related to the Offering not being completed in the
event that the conditions precedent thereto are not satisfied. In
making the forward-looking statements in this news release,
Invictus has applied several material assumptions, including the
assumptions that (1) the conditions precedent to completion of the
Offering will be fulfilled so as to permit the Offering to be
completed on or about June 1, 2017; (2) all necessary approvals
will be obtained in a timely manner and on acceptable terms; and
(3) general business and economic conditions will not change in a
materially adverse manner. There can be no assurance that
Forward-Looking Information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on Forward-Looking Information. Except as
required by law, Invictus does not assume any obligation to release
publicly any revisions to Forward-Looking Information contained in
this news release to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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