Invictus MD's Acreage Pharms Ltd. Receives Development Permit for Phase 2 and Provides Update
July 14 2017 - 7:30AM
InvestorsHub NewsWire
VANCOUVER, BC - JULY 14, 2017
- InvestorsHub Newswire - INVICTUS MD STRATEGIES CORP. ("Invictus
MD" or the "Company") (TSXV:
IMH;
OTC: IVITF; FRA:
8IS) is
pleased to announce that its licensed production
facility under the Access to Cannabis for Medical Purposes
Regulations (“ACMPR”), Acreage Pharms Ltd. (“Acreage Pharms”)
located near Edson, Alberta, utilizing a multi-room indoor
perpetual growing methodology, will begin its first harvest the
first week of August, with
the second harvest occurring the following week. The company
anticipates a harvest to take place approximately monthly going
forward.
Invictus MD is further
pleased to announce that Acreage Pharms has received its
development permit for Phase 2 and has broken ground initiating
construction on its 27,800 square foot purpose built, multiple room
production facility. All contractors and suppliers necessary for
the project have been scheduled. Invictus MD has committed to
investing $6.0 million, which will be used to fund the costs of
constructing the production facility.
"Following our
successful harvest at the AB Laboratories production facility as
announced earlier, and by securing the development permit for our
Alberta production facility, with $30 million cash available and
the majority earmarked for building production capacity, Invictus
MD is prepared for an exciting year of growth,” said Dan Kriznic,
Executive Chairman and CEO, 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,
our large land package allows for building cultivation facilities
as demand increases and we will continue the disciplined but agile
execution of our business strategy, and further establishing our
leadership position as Canada’s cannabis company” added
Kriznic.
Invictus MD also announced that Mr
Paul Sparkes and Mr. Josef W. Hocher have been appointed to the
Company’s Board of Directors.
Mr. Paul Sparkes is an
accomplished business leader with over twenty five years'
experience in media, public affairs, venture capital, and Canada's
political arena. He is Currently President of Otterbury Holdings
Inc., a corporation advising growth companies in the private and
public markets. Most recently Mr. Sparkes was Executive Vice
Chair, Director and co-founder of Difference Capital Financial, a
TSX-listed specialty finance company. Previously, Mr. Sparkes was
Executive Vice President, Corporate Affairs for CTVglobemedia (now
Bellmedia). Prior to joining Bell Globemedia in 2001 as Group
Vice-President, Public Affairs, Mr. Sparkes held senior positions
in public service, including with the Government of Canada and the
Government of Newfoundland and Labrador. From 1996 to 2001, he
served in the Office of the Prime Minister of Canada as Director of
Operations, and Special Assistant for Atlantic Canada. Mr. Sparkes
also served as Executive Assistant to two Premiers of Newfoundland
and Labrador. Mr. Sparkes sits on several public and private boards
including Thunderbird Entertainment (private), Bluedrop Performance
Learning Inc. (TSXV: BPL), Antler Gold Inc ( TSXV:ANTL.V) BlastGard
International Inc (BLGA-US) and is a former board member of the
Liquor Control Board of Ontario ( LCBO).
Mr. Josef W. Hocher
was a founder of Buried Hill Energy, an international oil and gas
company, where he acted as co-chief executive in creating,
developing and implementing the organization’s strategic
direction. He continues to serve as the Senior Independent
Director and is also either a Chair or a member of various
committees. Mr. Hocher also founded Hitic Energy Ltd., and
was a partner at Osler, Hoskin & Harcourt LLP. He
currently serves as Chairman of Orthoshop Geomatics Ltd., a
geomatics services company; holds the position of Chief Commercial
Officer at Field Upgrading Limited and Western Hydrogen Limited and
since 2016, has been a Partner at Cassels, Brock & Blackwell
LLP.
About Invictus
MD Strategies Corp.
Invictus MD Strategies
Corp. is focused on two main verticals within the burgeoning
Canadian cannabis sector: Licensed Producers under the ACMPR,
including its wholly owned subsidiary Acreage Pharms Ltd., as
well as its investment in the fully licensed facility AB
Laboratories Inc.; and Fertilizer and Nutrients through Future
Harvest Development Ltd.
For more information,
please visit www.invictus-md.com.
On Behalf of the
Board,
Dan Kriznic
Executive Chairman
& CEO
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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