VANCOUVER, May 8, 2018 /CNW/ - INVICTUS MD
STRATEGIES CORP. ("Invictus" or the "Company") (TSXV: GENE; OTC:
IVITF; FRA: 8IS1) is pleased to announce that the Acreage
Pharms Ltd ("Acreage Pharms") 33,000 square foot, purpose
built Phase 2 production facility is complete. Land clearing
and site preparation for its 80,000 square foot Phase 3 expansion
project has commenced giving the licensed producer a total of
120,000 square feet of growing space by the end of 2018. Acreage
Pharms is also working on plans to increase total capacity to
360,000 square feet in 2019. Invictus is fully funded for the Phase
3 expansion.
In addition, Acreage Pharms added eight more strains to its
cannabis cultivation portfolio, a range of Indica, Sativa, and
hybrids that add even more depth and breadth to Acreage Pharms'
ambitious cultivation program.
"Acreage Pharms keeps hitting important timeline milestones,
something we all champion," said Invictus Chairman and CEO Dan
Kriznic. "Cannabis is a highly regulated industry with a wide range
of important regulatory requirements that all companies face as
they build, cultivate and eventually sell and distribute cannabis.
Efficient teamwork, as well as diligent attention to detail, are
vital for the achievement of milestones in a timely fashion. The
Acreage Pharms team, led by Acreage Pharms CEO Trevor Dixon, is executing at a high level, and
we all are thrilled with the progress."
Crafting a well-rounded portfolio of high-quality strains is
important for all companies that grow cannabis. Acreage Pharms'
cultivation program continues to expand as Canada draws nearer to recreational
legalization. The eight new strains build upon Acreage Pharms'
already impressive portfolio.
- Mazar, expected 19.5 percent THC. This indica-dominant hybrid
strain originally hails from Northern
Afghanistan — it is named after the city Mazar-I-Sharif —
and is known for an impressive yield of resinous flower. Mazar is
high in CBD, a non-psychoactive cannabinoid that has grown in
popularity worldwide.
- Outlaw Amnesia, expected 15 percent THC. Outlaw is a
sativa-dominant hybrid strain with an earthy, lemony aroma and
flavor. It is well known as an excellent indoor growing
strain.
- The Ultimate, expected 15-18 percent THC. This hybrid is
roughly evenly divided between sativa and indica, and produces
forest-green nuggets shaped like pine trees that have a citrus
flavor.
- Orange Hill Special, expected 21 percent THC. You could walk
through an orange orchard, or you could just inhale a bud of Orange
Hill Special — one of the most citrus-forward strains in cannabis.
The popular hybrid is evenly divided between indica and
sativa.
- Ultra Skunk, expected 11 percent THC.
- CBD Kush, expected 1-1 THC/CBD ratio. The rise of the
cannabinoid CBD is an important movement in cannabis, and this
evenly balanced sativa-indica hybrid is treasured among CBD
fans.
- Sensi Star/Bruce Banner cross.
This hybrid of the indica-dominant Sensi Star with sativa-dominant
Bruce Banner combines two classic
cannabis strains into a single consumer-friendly package.
- White Widow, expected 18.9 percent THC. This famous strain
first gained notice in the 1990s, and was routinely referenced on
the TV show Weeds. A sativa-dominant hybrid, White Widow gets its
name from the white crystals that shroud the buds.
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").
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.
View original content with
multimedia:http://www.prnewswire.com/news-releases/invictus-acreage-pharms-phase-2-is-now-complete-300644595.html
SOURCE Invictus MD Strategies