VANCOUVER, Sept. 6, 2018 /CNW/ - INVICTUS MD STRATEGIES
CORP. ("Invictus" or the "Company") (TSXV: GENE; OTCQX: IVITF; FRA:
8IS1) is pleased to announce that it has closed the previously
disclosed $25.5 million debt
financing arrangement (the "Financing") with ATB Financial
("ATB") (see press release dated August 8, 2018, for further details). The
Financing will be used to accelerate the construction of its Phase
3 and Phase 4 cannabis cultivation facilities (the "Expansion
Plan") at Acreage Pharms Ltd. ("Acreage Pharms"),
located in West-Central Alberta. The Expansion Plan will add a
total of 180,000 square feet of production capacity to Acreage
Pharms. The 90,000 square foot Phase 3 expansion is well underway
with over $6 million in progress
payments already made for permitting, lot preparation, foundation
construction and precast installation. Phase 3 has a target
completion date of January 2019 with
Phase 4 expected to be completed later in 2019.
To date, Acreage Pharms has secured provincial supply agreements
for the upcoming adult recreational markets in both British Columbia and Alberta, and is actively pursuing supply
agreements in other provinces. In preparation for legalization
date, Invictus will be introducing four lifestyle-inspired cannabis
brands for recreational users: Dukes, Zooey, Sterling & Hunt,
and Sinister.
For more information, please visit www.invictus-md.com.
On Behalf of the Board,
Dan Kriznic
Chairman and CEO
Jessica Martin
Vice President, Public Relations and Regulatory Affairs
(604) 537-8676
About Invictus
Invictus is a global cannabis company offering a selection of
products under a wide range of lifestyle brands. Our integrated
sales approach is defined by five pillars of distribution including
medical, recreational, international, Licensed Producer to Licensed
Producer and retail.
Invictus has partnered with business leaders to convey our
corporate vision, including KISS music legend and business mogul
Gene Simmons as our Chief Evangelist
Officer, and global branding agency Authentic Brands Group.
Invictus is expanding its cultivation footprint, with two cannabis
production facilities fully licensed under ACMPR in Canada and a third awaiting approval,
featuring 100,000 square feet of available grow space today with
200,000 expected by the end of 2018 and 1 million by end of 2019.
The Company will earmark 50 per cent of production to the medical
and recreational markets, respectively. To ensure consistency in
quality and supply, Invictus maintains all aspects of the growing
process through its subsidiary, Future Harvest Development Ltd., a
high-quality Fertilizer and Nutrients manufacturer. Invictus drives
sustainable long-term shareholder value through a diversified
product portfolio with over 69 Health Canada approved strains and a
multifaceted distribution strategy including medical, recreational,
international and retail. For more information visit
www.invictus-md.com.
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
production capacity of Invictus, 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 Invictus will be successful in reaching its
potential production capacity, its production facilities will be
completed as anticipated, regulatory approval will be granted as
anticipated, Invictus will reach full production capacity on the
timeline anticipated by the Company, and no unforeseen
construction delays will be experienced. 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, Invictus will not be successful in reaching its
potential production capacity, its production facilities will not
be completed as anticipated, 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.
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-closes-25-5-million-debt-financing-from-atb-financial-300707720.html
SOURCE Invictus MD Strategies