INVICTUS' Acreage Pharms Acquires 23 New Strains, Expanding Its Genetics Profile
April 10 2018 - 6:13AM
InvestorsHub NewsWire
Vancouver, BC --
April 10, 2018 -- InvestorsHub NewsWire --
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.
Invictus MD Strategies (TSXV:GENE)
Historical Stock Chart
From Aug 2024 to Sep 2024
Invictus MD Strategies (TSXV:GENE)
Historical Stock Chart
From Sep 2023 to Sep 2024