Invictus Closes $25.5 Million Debt Financing from ATB Financial
September 06 2018 - 7:49AM
InvestorsHub NewsWire
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Vancouver, BC. -- September 06, 2018 -- InvestorsHub NewsWire
-- INVICTUS MD STRATEGIES CORP. ("Invictus" or the "Company")
(TSXV: GENE; OTCQX: IVITF; FRA: 8IS1)
is pleased to announce that it has
closed the previously disclosed $25.5 million debt financing
arrangement (the “Financing”) with ATB Financial
(“ATB”) (see press release dated August 8, 2018,
for further details). The Financing will be used to accelerate the
construction of its Phase 3 and Phase 4 cannabis cultivation
facilities (the “Expansion Plan”) at Acreage
Pharms Ltd. (“Acreage Pharms”), located in
West-Central Alberta. The Expansion Plan will add a total of
180,000 square feet of production capacity to Acreage Pharms. The
90,000 square foot Phase 3 expansion is well underway with over $6
million in progress payments already made for permitting, lot
preparation, foundation construction and precast installation.
Phase 3 has a target completion date of January 2019 with Phase 4
expected to be completed later in 2019.
To date, Acreage Pharms has secured provincial
supply agreements for the upcoming adult recreational markets in
both British Columbia and Alberta, and is actively pursuing supply
agreements in other provinces. In preparation for legalization
date, Invictus will be introducing four lifestyle-inspired cannabis
brands for recreational users: Dukes, Zooey, Sterling & Hunt,
and Sinister.
For
more information, please visit www.invictus-md.com.
On
Behalf of the Board,
Dan
Kriznic
Chairman and CEO
Jessica
Martin
Vice
President, Public Relations and Regulatory
Affairs
(604)
537-8676
About Invictus
Invictus is a global cannabis company offering a
selection of products under a wide range of lifestyle brands. Our
integrated sales approach is defined by five pillars of
distribution including medical, recreational, international,
Licensed Producer to Licensed Producer and
retail.
Invictus has partnered with business leaders to
convey our corporate vision, including KISS music legend and
business mogul Gene Simmons as our Chief Evangelist Officer, and
global branding agency Authentic Brands Group. Invictus is
expanding its cultivation footprint, with two cannabis production
facilities fully licensed under ACMPR in Canada and a third
awaiting approval, featuring 100,000 square feet of available grow
space today with 200,000 expected by the end of 2018 and 1 million
by end of 2019. The Company will earmark 50 per cent of production
to the medical and recreational markets, respectively. To ensure
consistency in quality and supply, Invictus maintains all aspects
of the growing process through its subsidiary, Future Harvest
Development Ltd., a high-quality Fertilizer and Nutrients
manufacturer. Invictus drives sustainable long-term shareholder
value through a diversified product portfolio with over 69 Health
Canada approved strains and a multifaceted distribution strategy
including medical, recreational, international and retail. For more
information visit www.invictus-md.com.
Cautionary Note
Regarding Forward-Looking Statements: This release includes certain
statements and information that may constitute forward-looking
information within the meaning of applicable Canadian securities
laws or forward-looking statements within the meaning of the United
States Private Securities Litigation Reform Act of 1995. All
statements in this news release, other than statements of
historical facts, including statements regarding future estimates,
plans, objectives, timing, assumptions or expectations of future
performance, including the potential production capacity of
Invictus, are forward-looking statements and contain
forward-looking information. Generally, forward-looking statements
and information can be identified by the use of forward-looking
terminology such as “intends” or “anticipates”, or variations of
such words and phrases or statements that certain actions, events
or results “may”, “could”, “should”, “would” or “occur”.
Forward-looking statements are based on certain material
assumptions and analysis made by the Company and the opinions and
estimates of management as of the date of this press release,
including that Invictus will be successful in reaching its
potential production capacity, its production facilities will be
completed as anticipated, regulatory approval will be granted as
anticipated, Invictus will reach full production capacity on the
timeline anticipated by the Company, and no unforeseen
construction delays will be experienced. These forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking statements or forward-looking information.
Important factors that may cause actual results to vary, include,
without limitation, Invictus will not be successful in reaching its
potential production capacity, its production facilities will not
be completed as anticipated, and licenses or approvals being
granted on terms or timelines that are materially worse than
expected by the Company. Although management of the Company
has attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking statements or forward-looking information, there
may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such
statements 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 statements and forward-looking information. Readers
are cautioned that reliance on such information may not be
appropriate for other purposes. The Company does not undertake to
update any forward-looking statement, forward-looking information
or financial out-look that are incorporated by reference herein,
except in accordance with applicable securities
laws.
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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