VANCOUVER, March 5, 2018 /CNW/ - INVICTUS MD STRATEGIES
CORP.'s ("Invictus" or the "Company") (TSXV: IMH; OTC: IVITF; FRA:
8IS1) AB Laboratories Inc. ("AB Labs") is pleased to
announce the closing of the acquisition of the land and building
(the "Property") next door for $5.2
million for its Phase 2 expansion. The address of the
Property has been consolidated with AB Labs existing address to
allow the existing cultivation and sales license to extend to the
Property. The milestone allows AB Labs to continue moving
ahead with its aggressive cannabis production capacity, as
Canada marches towards full
legalization during 2018.
"Acquiring and consolidating these facilities at AB Labs has
been of keen importance and we are delighted to formally secure the
merging of the facilities and to begin the next steps towards
delivering AB Labs to full production," said Dan Kriznic, Chairman
and CEO of Invictus.
The Phase 2 construction adds 40,000 square feet to AB Labs
existing 15,600 square feet of cultivation space and is on track
for a mid June 2018 completion. The
combined 55,600 square feet facility contains multiple rooms for
cultivation, trimming and drying in a controlled and regulated
environment, and plays a critical role in Invictus' strong
production profile.
At the same time, construction planning moves ahead at AB
Ventures Inc. (AB Ventures), located on a 100-acre property near
Hamilton. The building team at AB
Ventures is now completing all conditions required by the
municipality, including a hydrological survey. Immediately
following the completion of all of the required documentation, AB
Ventures will submit building permit requests.
Once AB Ventures receives its Access to Cannabis for Medical
Purposes Regulation (ACMPR) license, the entire property will have
the potential for cannabis cultivation. Invictus has committed
$5.5 million in funding to build out
the first 21,000 square foot building on property.
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. 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 granting of a
license under the ACMPR to AB Ventures 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 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, 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 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, 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