VANCOUVER, July 13, 2017 /CNW/ - INVICTUS MD
STRATEGIES CORP. ("Invictus MD" or the "Company") (TSXV: IMH; OTC:
IVITF; FRA: 8IS) is pleased to provide an update that its
licensed production facility under the Access to Cannabis for
Medical Purposes Regulations ("ACMPR"), AB Laboratories Inc. ("AB
Labs") located in Hamilton,
Ontario, utilizing a multi-room indoor perpetual growing
methodology, completed its first harvest four weeks ago, with the
second harvest occurring this week. The company anticipates a
harvest to take place approximately monthly going forward. The
first two crops consisted of a number of batches of strain
offerings with varying THC/CBD concentrations.
AB Ventures Inc. ("AB Ventures"), an incorporated company formed
to develop a second licensed expansion facility through its common
ownership with AB Labs, is forging ahead with planning its Phase 1
expansion which initially includes the development of two 21,000
square foot, multiple room production facilities. AB Ventures
is planning to construct additional production facilities on its
100 acres of land totaling 100,000 square feet. Building plans have
been completed and a development advisor has been engaged to
provide guidance at the pre-consultation stage towards its site
plan approval.
Invictus MD has committed to invest $5.5
million, which will be used to fund the costs of licensing
approval under the ACMPR, and constructing the initial 42,000
square foot production facilities. Plans to construct
production facilities totaling 100,000 square feet are anticipated
to be completed by 2019. Assuming AB Ventures obtains a license to
produce the proposed facility, this will provide additional
production capacity for the growing medical and future recreational
demand. If market demand necessitates further production capacity
and additional cultivation space is needed, the company has 100
acres on the current property where multiple 21,000 square-foot
additions can be made.
Dan Kriznic, currently Executive
Chairman will assume responsibilities as Chairman and CEO for
Invictus MD and Trevor Dixon will
assume responsibilities as President and CEO of Acreage Pharms Ltd.
to facilitate the further expansion of that production site while
achieving increased operational efficiencies.
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 Krizni
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.
SOURCE Invictus MD Strategies