VANCOUVER, March 26, 2018 /CNW/ - INVICTUS MD STRATEGIES
CORP. ("Invictus" or the "Company") (TSXV: GENE; OTC: IVITF; FRA:
8IS1) is pleased to announce that Acreage Pharms has undergone
its physical on site sales license inspection. Health Canada officials are now completing their
report. Given Acreage Pharms' strong commitment to closely adhering
to regulatory guidelines and requirements, the company remains
confident it will pass this important regulatory step and gains its
sales license.
"All of the hard work that goes into building innovative, safe,
and long-lasting facilities for cannabis production revolves around
smart, demanding requirements crafted by Health Canada officials,"
said Invictus Chairman and CEO Dan Kriznic. "We value the sturdy
guidelines laid-out by Federal officials, and consider regulatory
compliance one of our most important business-building
responsibilities. We look forward to continuing to work with
officials as they oversee and examine our progress."
As Health Canada officials review the inspection report, Acreage
Pharms is installing cooling and environmental systems throughout
its Phase 2 facility, which will have 39,600 square feet for
cannabis production. The company anticipates having its first five
grow rooms ready for cannabis production within a week. In
addition, the security system for all of Phase 2 is now being
installed and should be completed by the first week of April.
Finally, land dedicated for Acreage Pharms' Phase 3 facility is
now being cleared in preparation for construction. The building of
the road to the future Phase 3 site is also underway.
Phases 1 and 2 represent 40,000 square feet of growing space,
and Phase 3 will add another 80,000 square feet to Acreage Pharms'
canopy.
"Creating a successful cannabis company in this increasingly
competitive environment requires a number of corporate strengths,
including efficient project management," said Dan Kriznic.
"Building these facilities involves the coordination of a wide
range of factors, from understanding and implementing regulatory
demands to working closely with professional teams from a diversity
of disciplines — framing, electrical, plumbing, HVAC, security and
much more. The process is multi-faceted, always in flux and
complex. I am proud of the enormous amounts of complicated work the
Acreage Pharms team, led by CEO Trevor
Dixon, not only have shouldered, but have executed with
skill and timeliness."
About Invictus
Invictus operates cannabis companies in Canada with the vision of producing a variety
of high quality and low cost cannabis products and strains to the
global market place as regulations permit. Gene Simmons, music legend and media mogul,
conveys the vision of Invictus as the Chief Evangelist Officer.
Invictus operates two cannabis production sites under the Access
to Cannabis for Medical Purposes Regulations ("ACMPR") in
Canada and has over 95,000 square
feet of cannabis production capacity at the licensed production
sites. The Company's wholly owned subsidiary Acreage Pharms
Ltd. ("Acreage Pharms"), located in West-Central Alberta on
150 acres, has approximately 40,000 square feet of cannabis ready
production with its recently completed Phase 2 expansion. The
Company intends on expanding to 120,000 square feet by the end of
2018 once Phase 3 is complete.
Invictus also owns 50% of AB Laboratories Inc. ("AB
Labs"), a licensed producer under the ACMPR located in
Hamilton, Ontario. AB Labs
currently operates in a 16,000 square foot facility and recently
acquired a facility adjacent to the existing property that will
allow for a total of 56,000 square feet of cultivation space ready
for production by June 2018. During
the first quarter of 2018 AB Labs submitted a secondary license to
Health Canada for a nearby property on 100 acres under the name AB
Ventures Inc. ("AB Ventures"). Invictus has committed
$5.5 million in cash to AB Ventures
to secure its 33 1/3 percent ownership and allow AB Ventures to
build its first 20,000 square foot facility on the 100-acre
property.
Combined, the licensed producers owned by Invictus expect to
have approximately 200,000 square feet of cannabis production
capacity by the end of 2018 and 520,000 square feet of cannabis
production capacity by the end of 2019.
In addition to the ACMPR licenses, the Company has an 82.5%
investment in Future Harvest Development Ltd. a high quality
Fertilizer and Nutrients manufacturer based in Kelowna, British Columbia that has been in
operation for over 20 years under the brand Plant Life Products and
Holland Secret.
For more information, please visit www.invictus-md.com.
On Behalf of the Board,
Dan Kriznic
Chairman & CEO
Larry Heinzlmeir
Vice President, Marketing & Communications
Invictus MD Strategies Corp.
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, the completion of 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 AB Labs secondary license, the granting
of a sales license under the ACMPR to Acreage Pharms, expected
sales of inventory and the legalization of the recreational use of
marijuana in Canada in 2018 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 potential production capacity
of AB Labs, the completion of 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 AB Labs secondary license, the granting of a sales
license under the ACMPR to Acreage Pharms, expected sales of
inventory and the legalization of the recreational use of marijuana
in Canada in 2018. 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, AB Labs will not be successful in reaching its
potential production capacity, AB Ventures and Acreage Pharms'
production facilities will not be completed as anticipated,
regulatory approval will not be granted as anticipated and
therefore, the anticipated timing of AB Labs reaching full
production capacity will be delayed, AB Labs not be granted their
secondary license, Acreage Pharms will not be granted its
sales license under the ACMPR, expected sales of inventory will not
be met and the legalization of the recreational use of marijuana 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