VANCOUVER, April 10, 2018 /CNW/ - INVICTUS MD
STRATEGIES CORP. ("Invictus" or the "Company") (TSXV: GENE; OTC:
IVITF; FRA: 8IS1) is pleased to announce that Acreage Pharms
Ltd ("Acreage Pharms") has received 23 new strains,
providing the Company with a broad cannabis cultivation profile
including: strains that are high in CBD; strains that offer
especially elevated concentrations of THC; and strains that capture
a wide variety of terpenes and cannabinoids, increasingly sought
after by cannabis consumers.
"The Acreage Pharms team continues to produce more genetics
through its selective breeding program to further improve its
cultivation biodiversity — a key step towards ensuring the breadth
and longevity of our lines for medical and recreational markets,"
said Invictus Chairman and CEO Dan Kriznic. "Cultivating a generous
suite of high-quality cannabis is complex, demanding work. It
requires savviness in fields like plant biology, irrigation and
lighting, as well as an intimate understanding of pests and
diseases and how to vanquish them naturally — no pesticides or
herbicides. Acreage Pharms is taking so many smart steps, and of
course the team led by Acreage Pharms CEO Trevor Dixon, continues to invest in new strains
and will continue to do so across this historic year and beyond. It
is thrilling."
The sophisticated Acreage Pharms cultivation program involves a
variety of key factors, including:
- Testing at GMP accredited third-party labs to ensure cannabis
products exceed all USP and USDA standards.
- Extremely rigorous quality assurance standard operating
procedures (SOPs) that cover everything from monitoring and
recording of temperatures in all areas where products are grown,
processed and stored, to keeping product in humidity and
temperature-controlled vaults.
- A team of horticulture experts with more than 20 years
experience in similar environments, including close collaboration
with an entomologist to oversee pesticide-free pest control.
Acreage Pharms' location in the low-humidity, cooler climate of
Alberta, offers an ideal climate
for indoor cannabis cultivation. The diminished humidity protects
against molds and fungus, and the low outdoor temperatures for many
months of the year, limits most pests.
Acreage Pharms plant genetics are not constrained by contractual
agreements which provides the ability to set its own pricing.
Acreage Pharms' ambitious cultivation program began with two
outstanding strains, Sensi Star and All Kush.
Sensi Star is an Indica style of cannabis, and thus is part of
the family of cannabis plants which is a stout Indica and a
grower's dream — it is not fussy, and easy to nurture to abundance
— and extremely attractive to patients and consumers due to its
sheen of gorgeous crystals and earthy aroma and flavor. The
strain's THC levels have consistently registered at approximately
20 percent.
All Kush offers Acreage Pharms a potent Indica/Sativa hybrid to
introduce to the adult marketplace when legalized. The Acreage
Pharms strain routinely registers 20 percent THC, compared to
versions found elsewhere that more frequently contain about 15
percent THC.
With the nearly two-dozen new strains, Acreage Pharms' cannabis
portfolio expands dramatically, and with plans to continue to add
strains to the portfolio, Acreage Pharms aims to offer one of the
most abundant strain selections in Canada, as the nation marches closer to adult
use legalization during 2018.
About Invictus
Invictus owns and 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
expected to be 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
604-537-8676
In the United States
Terry Wills
twills@willscom.com
310-877-1458
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 development of
additional cannabis strains, the potential production capacity of
AB Labs, AB Ventures and Acreage Pharms, 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 that Acreage Pharms will be successful in developing
additional cannabis strains, that AB Labs will be successful in
reaching its potential production capacity on the timeline expected
by the Company, AB Ventures and Acreage Pharms' production
facilities will be completed as anticipated, regulatory approval
will be granted as anticipated, AB Labs will reach full production
capacity on the timeline anticipated by the Company, AB Labs will
be granted its secondary license on the terms and timeline
anticipated by the Company, no unforeseen construction delays will
be experienced, Acreage Pharms will be granted its sales license
under the ACMPR on the terms and timeline anticipated by the
Company, expected sales of inventory will be met and the
legalization of the recreational use of marijuana 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, Acreage Pharms will not be successful in
developing additional cannabis strains or, if developed, such
strains will not have the benefits anticipated by the Company, 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, construction delays,
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, licenses or approvals being granted
on terms or timelines that are materially worse than expected by
the Company, 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.
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SOURCE Invictus MD Strategies