VANCOUVER, June 19, 2018 /CNW/ - INVICTUS MD STRATEGIES
CORP. ("Invictus" or the "Company") (TSXV: GENE; OTC: IVITF; FRA:
8IS1) is pleased to announce it has signed a non-binding Letter
of Intent ("LOI"), executed on June 13,
2018, to sell dried cannabis to a German importer and
distributor of medical cannabis (the "Importer"). The Company will
initially commit to selling 1,000 kgs of dried cannabis flower per
annum at a price of $6.50 per gram.
The volumes and respective prices of dried cannabis flower for the
second and consecutive years will be defined in a Definitive
Offtake Agreement (the "Offtake Agreement").
The Importer, whose name will remain undisclosed until execution
of the Offtake Agreement, combines a highly competitive business
model with a vast distribution network of 20,000 pharmacies and a
clear focus on product marketing and professional education. The
Importer's experienced management team previously led an
international joint venture successfully to the final stage of the
German tender for domestic cannabis production and unites the
expertise of medical professionals, experts in pharmaceutical
regulatory law as well as experienced entrepreneurs. This unique
combination will serve to ensure the secure and reliable import and
distribution of Invictus' products to the exponentially growing
market in Germany and Europe.
Prior to any shipment of dried cannabis flower to the German
market Invictus must first obtain an export permit from Health
Canada as well as a Good Manufacturing Practice ("GMP")
certification, in accordance with the rules governing medicinal
products in the European Union. The EU-GMP certification is a
requirement to distribute medical cannabis to Germany and across the European Union. The
Importer must also obtain an import permit.
Independent from the Offtake Agreement, the Company and the
Importer will also explore obtaining a cultivation license in
Germany.
"We continue to explore opportunities for sales and distribution
beyond our nation's borders to countries, like Germany, that welcome legalized medical
cannabis products," said Dan Kriznic, Founder and CEO. "These new
relationships will diversify our operations and further allow us to
become Canada's Cannabis Company,
and beyond."
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. The Company's 50% owned AB
Laboratories Inc. ("AB Labs"), is 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 an
applicant (the "OptionCo") under the ACMPR. Combined, the
Company expects to have approximately 332,000 and 822,000 square
feet of cannabis production capacity by the end of 2018 and 2019,
respectively.
Gene Simmons, music legend and
media mogul, conveys the vision of Invictus as the Chief Evangelist
Officer.
The Company's wholly owned subsidiary, Poda Technologies Ltd.
("Poda"), has developed 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.
Finally, the Company's 82.5% owned Future Harvest Development
Ltd. ("Future Harvest") is a high-quality Fertilizer and
Nutrients manufacturer, based in Kelowna, British Columbia. Future Harvest 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