Invictus MD Provides a Corporate Update on AB Laboratories Inc. and AB Ventures Inc.
July 13 2017 - 10:15AM
InvestorsHub NewsWire
VANCOUVER, BC - JULY 13, 2017
- InvestorsHub Newswire - 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 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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