VANCOUVER, Feb. 5, 2018 /CNW/ - INVICTUS MD STRATEGIES
CORP.'s ("Invictus" or the "Company") (TSXV: IMH; OTC: IVITF; FRA:
8IS1) is pleased to announce that it has received an additional
$16,536,234 from the exercise of
previously issued warrants and options since December 22, 2017, bringing Invictus' cash
balance to approximately $38 million.
A total of 9,658,179 warrants and 26,000 options were exercised for
proceeds of $16,527,854 and
$10,130 respectively. As a result of
such exercises, the Company currently has a total of 89,863,485
common shares issued and outstanding. There are 14,686,743 warrants
outstanding that would bring cash into the Company of approximately
$26 million, and additionally,
8,518,000 stock options outstanding that would bring in
approximately $13.2 million.
Invictus' license holders total annual kilogram capacity after
various phases of expansion in 2018 and 2019, complete and in
progress, is expected to be approximately 76,400 kg, based on
expanding facilities in 2019 to approximately 520,000 square feet.
The expected net production capacity to Invictus of approximately
67,000 kg after giving effect to the additional investment as a
result of the signed definitive agreement with AB Labs that will
bring Invictus' ownership of AB Labs to 50%. With the recent
exercise of warrants and options, Invictus' funded capacity today
is approximately 27,200 kg.
Acreage
Pharms
|
Square
Feet
|
Status
|
%
Funded
|
KG
Produced
to Date
|
KG
Capacity
|
Forecast
Invictus
MD Ownership
|
Invictus
MD
KG Funded
Capacity
|
Invictus
MD
KG Expansion
Capacity
|
Phase 1
|
6,600
|
Complete
|
100%
|
160
|
600
|
100%
|
600
|
600
|
Phase 2
|
33,000
|
31-Jan-18
|
100%
|
-
|
4,400
|
100%
|
4,400
|
4,400
|
Phase 3
|
80,000
|
30-Sep-18
|
100%
|
-
|
14,000
|
100%
|
14,000
|
14,000
|
Phase 4
|
80,000
|
1-Mar-19
|
36%
|
-
|
14,000
|
100%
|
5,092
|
14,000
|
Phase 5
|
160,000
|
1-Sep-19
|
0%
|
-
|
28,000
|
100%
|
-
|
28,000
|
Total Acreage
Pharms
|
359,600
|
|
|
160
|
61,000
|
|
24,092
|
61,000
|
AB
Laboratories
|
|
|
|
|
|
|
|
|
Phase 1
|
15,600
|
Complete
|
100%
|
180
|
900
|
50%
|
450
|
450
|
Phase 2
|
40,000
|
15-Jun-18
|
100%
|
-
|
4,000
|
50%
|
2,000
|
2,000
|
Total AB
Laboratories
|
55,600
|
|
|
180
|
4,900
|
|
2,450
|
2,450
|
AB
Ventures
|
|
|
|
|
|
|
|
|
Phase 1
|
21,000
|
Pre-license
|
100%
|
-
|
2,100
|
33%
|
700
|
700
|
Phase 2
|
84,000
|
Pre-license
|
0%
|
-
|
8,400
|
33%
|
-
|
2,772
|
Total AB
Ventures
|
105,000
|
|
|
-
|
10,500
|
|
700
|
3,472
|
TOTAL
|
520,200
|
|
|
340
|
76,400
|
|
27,242
|
66,922
|
Dan Kriznic, Chairman and CEO commented, "We continue to focus
on utilizing our $38 million of cash
in treasury to build out additional square footage to meet the
expected demand once Canada
becomes recreationally legal this year. Our current funded capacity
is approximately 27,200 kg, as well as our planned expansion to get
our license holders to approximately 76,400 kg in 2019 with a net
to Invictus of 67,000 kg bringing us in line with some of our peers
that are leading the industry. The Sales license for AB Labs has
been a catalyst to getting to this stage and the next catalyst will
be our sales license for Acreage Pharms that is expected to occur
in this first quarter of 2018."
About Invictus MD Strategies Corp.
Invictus MD Strategies Corp. is focused on two main verticals
within the Canadian cannabis sector, namely the Licensed
Producers under the ACMPR, being its 100% investment in Acreage
Pharms Ltd., located in West-Central Alberta, and 50% investment in
AB Laboratories Inc., located near Hamilton, Ontario which has both its
cultivation and sales license under ACMPR. Combined the two
licenses and an expected third license under AB Ventures Inc. are
expected to have an approximate annual run-rate production capacity
of 76,400 kg by 2019. In addition to ACMPR licenses the Company has
an 82.5% investment in Future Harvest Development Ltd. a Fertilizer
and Nutrients manufacturer based in Kelowna, British Columbia.
For more information, please visit www.invictus-md.com.
On Behalf of the Board,
Dan Kriznic
Chairman & CEO
Larry Heinzlmeir
Vice President, Marketing & Communications
604-537-8676
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 AB Labs, AB Ventures and Acreage Pharms'
production facilities, the granting of regulatory approval and
anticipated timing of AB Labs reaching full production capacity,
the granting of a sales license under the ACMPR to AB Ventures and
Acreage Pharms, Acreage Pharms' receipt of a sales license and the
success and timing of Acreage Pharms' expansion plans, expected
sales of inventory and the completion of the increase in the
Company's ownership of AB Labs pursuant to the definitive agreement
(the "Transaction") 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 the assumptions that AB Labs, AB Ventures and Acreage
Pharms will satisfy all conditions for, and receive, regulatory
approval to sell medical cannabis at their production facilities'
full capacity, AB Ventures will satisfy all conditions for and be
granted a license under the ACMPR and will receive a development
permit on the expected terms, AB Ventures is able to successfully
build a production facility, Acreage Pharms will satisfy all
conditions for and successfully obtain the anticipated sales
license and will successfully complete its expansion plans, the
anticipated sales of inventory will take place on the terms and
timing expected by management, all conditions to the closing of the
Transaction will be satisfied and the Transaction will complete on
the terms set out in the definitive agreement and that the
legalization of recreational use of cannabis in Canada will occur as expected. 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, the risk that AB Labs, AB Ventures and Acreage
Pharms will not receive regulatory approval to sell medical
cannabis at their production facilities for their full production
capacity or at all, that AB Labs, AB Ventures or Acreage Pharms
will not reach full production capacity, that AB Ventures will not
be granted a license under the ACMPR or will not receive a
development permit on the expected terms or at all, that AB
Ventures is not able to successfully build a production facility,
that Acreage Pharms is not able to obtain the anticipated sales
license when expected by management or at all or is not able to
successfully complete its expansion plans, that the anticipated
sales of inventory will not occur on the terms and timing expected
by management or at all, that the Transaction will not complete on
the expected terms or at all and that the legalization of
recreational use of cannabis in Canada will not occur at all or as expected.
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. We seek safe harbor.
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