VANCOUVER, May 18, 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 its sales license from
Health Canada pursuant to the Access to Cannabis for Medical
Purposes Regulations (ACMPR) effective May 18, 2018.
Dan Kriznic, Invictus Chairman and CEO commented, "We are
thrilled to have obtained our sales license from Health
Canada. This is the crowning milestone in our licensing
journey for Invictus, as we march towards fulfilling capacity goals
during this historic and important year for Canada's cannabis industry. We started this
company in 2014 with the intention of becoming Canada's Cannabis Company. With the granting
of Acreage Pharms' sales license and the completion of the Phase 2
structure at Acreage Pharms, two key milestones in the drive
towards that intent now have been achieved. This dramatically
advances our timeline for increasing our annual run-rate production
capacity at our current 39,600 square foot facilities and
construction plan for the 80,000 square foot Phase 3 to be
completed by September 2018 in time
for the adult-use market."
The awarding of the license coincides with the launch of
Invictus' extensive retail development plan, an ongoing effort that
hinges on the ownership and opening of at least 20 dispensaries in
British Columbia, Alberta and Saskatchewan; supply agreements with
governmental bodies and licensed producers; and securing
large-scale product calls and supply agreements, as well as smaller
"craft" agreements.
With an emphasis on a refined consumer experience — Invictus
stores will offer shopping experiences evocative of Canada's natural beauty, with natural woods,
open floor plans, tasteful lighting, and iPad-wielding sales
associates deeply trained in cannabis —Invictus dispensaries will
stand apart. Acreage Pharms', which cultivates and manufactures
high-quality cannabis products, is an essential part of the retail
strategy.
Acreage Pharms anchors 150 acres of convertible land in
Alberta, and is poised to support
the cannabis industry and its community with a safe product that is
well-researched, lab-tested and distributed through regulated
channels. Increasing Invictus' canopy footprint has been a sharp
focus of the company, as beginning in the middle of 2018 Canada's
demand rises for high-quality, pesticide-free product for both the
current medical cannabis market and the adult market once
legalized.
"This is the crowning jewel that we all have been working
towards since 2013, and wonderful news," said Acreage Pharms
founder and CEO Tervor Dixon. "Our
team has worked tirelessly, and with immense savvy and commitment
to detail, to make this happen. Without all of their hard work, day
after day, this crowning achievement would remain merely a dream,
rather than a reality. Our seed-to-sale model is now complete in
the medical arena, and our client service team is ready to serve
customers in the recreational retail sector, including dispensaries
owned by Acreage Pharms' corporate parent, Invictus. With so many
medical patients signing-up for care every month, more and more now
turn to Acreage Pharms client service team for assistance in
securing our high-quality cannabis. We all look forward to serving
many more consumers in months and years to come."
Added Kriznic: "Regulators and lawmakers, community advocates
and the business community across Canada have been working hard to build the
sturdiest, safest and most sensible legal cannabis industry in the
world. Invictus is honored to take part in these historic
efforts."
About Invictus
Invictus owns and operates two cannabis production sites under
the ACMPR 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. The Company's wholly owned subsidiary Acreage Pharms is
located in West-Central Alberta. Invictus also owns 50% of AB
Laboratories Inc. ("AB Labs") located in Hamilton, Ontario. 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").
Recently the Company announced that it has entered into a
binding letter of intent for an option to acquire 100% of the
outstanding shares of an applicant (the "OptionCo") the
ACMPR.
Combined, the licensed producers owned by Invictus expect to
have approximately 327,000 square feet of cannabis production
capacity by the end of 2018 and 817,000 square feet of cannabis
production capacity by the end of 2019.
Gene Simmons, music legend and
media mogul, conveys the vision of Invictus as the Chief Evangelist
Officer.
Invictus owns 100% of Poda and its related intellectual
property, the world's first zero-cleaning vaporizer system. Poda's
fully biodegradable pods are self-contained, and do not contaminate
the vaporizer with odor, flavor and residue.
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.
Invictus' Canadian Production Footprint:
|
|
|
Square
Footage
|
Company
|
Phase
|
Province
|
Current
|
31-Dec-18
|
31-Dec-19
|
Acreage
Pharms
|
1
|
Alberta
|
7,000
|
7,000
|
7,000
|
Acreage
Pharms
|
2
|
Alberta
|
33,000
|
33,000
|
33,000
|
Acreage
Pharms
|
3
|
Alberta
|
|
80,000
|
80,000
|
Acreage
Pharms
|
4
|
Alberta
|
|
|
240,000
|
Total Acreage
Pharms
|
|
|
40,000
|
120,000
|
360,000
|
AB
Laboratories
|
1
|
Ontario
|
16,000
|
16,000
|
16,000
|
AB
Laboratories
|
2
|
Ontario
|
|
40,000
|
40,000
|
Total AB
Laboratories
|
|
|
16,000
|
56,000
|
56,000
|
AB
Ventures
|
1
|
Ontario
|
|
21,000
|
21,000
|
AB
Ventures
|
2
|
Ontario
|
|
80,000
|
80,000
|
Total AB
Ventures
|
|
|
-
|
101,000
|
101,000
|
Option Co
|
1
|
British
Columbia
|
|
50,000
|
50,000
|
Option Co
|
2
|
British
Columbia
|
|
|
250,000
|
Total Option
Co
|
|
|
-
|
50,000
|
300,000
|
Total
Combined
|
|
|
56,000
|
327,000
|
817,000
|
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 development of
additional cannabis strains, the potential acquisition of OptionCo,
the potential production capacity of OptionCo, AB Labs, AB Ventures
and Acreage Pharms, the completion of OptionCo, AB Ventures and
Acreage Pharms' production facilities, the granting of regulatory
approval and anticipated timing of OptionCo, AB Labs reaching full
production capacity, the granting of OptionCo's first and second
license, AB Labs secondary license, the granting of a sales license
under the ACMPR to OptionCo and 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 the
Company will be successful in exercising its option to acquire
OptionCo including obtaining TSX Venture Exchange approval of the
acquisition, that OptionCo and AB Labs will be successful in
reaching their potential production capacity on the timeline
expected by the Company, OptionCo, AB Ventures and Acreage Pharms'
production facilities will be completed as anticipated, regulatory
approval will be granted as anticipated, OptionCo and AB Labs will
reach full production capacity on the timeline anticipated by the
Company, OptionCo will be granted its first and second licenses, AB
Labs will be granted its secondary license on the terms and
timeline anticipated by the Company, no unforeseen construction
delays will be experienced, OptionCo and 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, the Company will not complete the acquisition of
OptionCo, OptionCo and AB Labs will not be successful in reaching
its potential production capacity, OptionCo, 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
OptionCo and AB Labs reaching full production capacity will be
delayed, AB Labs will not be granted their secondary license,
OptionCo will not be granted its first and second licenses
and OptionCo and 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