VANCOUVER, June 6, 2018 /CNW/ - INVICTUS MD STRATEGIES
CORP. ("Invictus" or the "Company") (TSXV: GENE; OTC: IVITF; FRA:
8IS1) announced today that construction of the Phase 2
expansion at AB Laboratories Inc. ("AB Labs") remains on-schedule.
The retrofit is well underway with construction of the second-floor
mezzanine to commence as early as next week. The Phase 2 facility,
located adjacent to Phase 1, will add 40,000 square feet to the
current operations and increase total cultivation space to 56,000
square feet. The 16,000 square foot Phase 1 facility continues to
operate at full capacity and successfully completed its second
transfer of 63 kg of dried cannabis to Canopy Growth Corporation's
(TSX: WEED) Tweed's elite CraftGrow line, on April 9, 2018.
In addition, the building permit requirements for AB Ventures
Inc. ("AB Ventures") are near completion and construction of the
facility is expected to begin within the next 60 days. AB Ventures
owns 100 acres of land near Hamilton,
Ontario, to be used for future cannabis cultivation. In
preparation for the build-out, the Company has provided
$3 million in funds to AB Ventures.
Upon payment of the full $5.5 million
commitment to AB Ventures the Company will have a 33% ownership in
AB Ventures.
Finally, the Company is pleased to announce that 100% owned
Acreage Pharms Ltd. ("Acreage Pharms") is now accepting patients
and processing orders for medical cannabis. Acreage Pharms received
its sales license from Health Canada pursuant to the Access to
Cannabis for Medical Purposes Regulations ("ACMPR"),
effective May 18, 2018.
Invictus has also granted 1,275,000 incentive stock options to
certain directors, officers, employees and consultants of the
Company. The stock options vest immediately and are exercisable for
a period of five years at an exercise price of $1.78, the closing market price on June 1, 2018. The stock options were granted
pursuant to the Company's Stock Option Plan and are exercisable
into one common share of the Company, subject to the terms and
conditions of the Stock Option Plan.
About Invictus
Invictus owns and operates two cannabis production facilities,
both with sales licenses, under the ACMPR in Canada, with the vision of producing a variety
of high quality and low-cost cannabis products to the global
market, as regulations permit. The Company's wholly owned
subsidiary, Acreage Pharms Ltd. ("Acreage Pharms"), is
located in West-Central Alberta. Invictus also owns 50% of AB
Laboratories Inc. ("AB Labs") located in Hamilton, Ontario. AB Ventures Inc. ("AB
Ventures") owns 100 acres of land near Hamilton, Ontario, to be used for future
cannabis cultivation.. 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") under the ACMPR.
Combined, the licensed producers owned by Invictus expect to
have approximately 332,000 square feet of cannabis production
capacity by the end of 2018 and 822,000 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 Technologies Ltd. ("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 or residue.
In addition to the above, the Company has an 82.5% investment in
Future Harvest Development Ltd. ("Future Harvest") 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
|
|
55,000
|
55,000
|
Option Co
|
2
|
British
Columbia
|
|
|
250,000
|
Total Option
Co
|
|
|
-
|
55,000
|
305,000
|
Total
Combined
|
|
|
56,000
|
332,000
|
822,000
|
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 potential
acquisition of OptionCo, and the potential production capacity of
OptionCo, AB Labs, AB Ventures and Acreage Pharms, 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 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, 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, and OptionCo and Acreage Pharms will be
granted its sales license under the ACMPR on the terms and timeline
anticipated by the Company,. 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,
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, and licenses or approvals being granted on terms or
timelines that are materially worse than expected by the Company.
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