VANCOUVER, May 31, 2017 /CNW/ - INVICTUS MD
STRATEGIES CORP. ("Invictus MD" or the "Company")
(TSXV: IMH; OTC: IVITF; FRA: 8IS) Canada's Cannabis Company, is pleased to
provide a corporate update on the back of its recently closed
bought deal financing, and reprises its vision to expand and
solidify its cultivation portfolio.
"Following our successful financing with Canaccord Genuity
Corp., Eventus Capital Corp., Echelon Wealth Partners Inc., GMP
Securities L.P. and PI Financial Corp., including the
over-allotment option, for aggregate gross proceeds of $25,008,750, Invictus MD is well capitalized and
prepared for an exciting year of growth," said Dan Kriznic,
Executive Chairman, Invictus MD. "Led by one of the industry's most
experienced teams, we are strongly focused on building our
shareholder value. With 250 acres of cultivation space that
stretches from Alberta to
Ontario, allowing for purpose
built production facilities rather than retrofitting existing
buildings, we now have the largest land package in Canada for building cultivation facilities as
demand increases and we will continue the disciplined but agile
execution of our business strategy," added Kriznic.
"When its management team visited TSX Venture Exchange (TSXV) on
May 5, 2017 and opened the trading
day, we shared that celebration with all those who have contributed
to our success - especially our team, the board, advisers and
investors," said Kriznic. "From our early beginnings three
years ago, we had a clear goal and the desire to do something
remarkable within this budding marketplace. We have always
taken pride in knowing we're working towards becoming a source of
uncompromising quality of medical cannabis and to be ready for the
future new recreational market upon legalization."
In early May, AB Ventures Inc. ("AB Ventures"), an incorporated
company formed to develop a second licensed expansion facility
through its common ownership with AB Laboratories Inc. ("AB Labs")
a Licensed Producer under the Access to Cannabis for Medical
Purposes Regulations ("ACMPR") which maintains a 16,000 square foot
facility located near Hamilton,
Ontario, closed its 100-acre land acquisition and once
licensed under the ACMPR, will be used for future cannabis
cultivation. To facilitate the construction of the initial
42,000 square foot cultivation facilities, with plans to construct
additional production facilities on the new land totaling 100,000
square feet, Mr. Michael Alezane has
been appointed construction manager. Considering the
magnitude of AB Ventures' land holdings and future production
facilities, and assuming AB Ventures obtains a license to produce
the quantity forecasted for the proposed facility, we will have the
capacity for significant growth to keep pace with the growing
medical and future recreational demand.
AB Labs, which has achieved full production capacity, recently
conducted its first harvest with very favorable results and will
shortly apply for its pre-sales inspection.
"The Company is focused on achieving increased production
profile growth in the near future. Cultivation began earlier
in the month at Acreage Pharms Ltd. (Acreage Pharms), a Licensed
Producer under the Access to Cannabis for Medical Purposes
Regulations ("ACMPR")," stated Trevor
Dixon, President and CEO of Invictus MD. "Planning has begun
for the Phase 2 build out; Acreage Pharms has an existing 6,800
square foot production facility with an expansion plan floor plate
of 27,400 square feet, that sits on 150 acres of land in West
Central Alberta. To facilitate the construction of Phase 2, Mr.
Harmen Bangma has been appointed
construction manager." Alberta has
low cost of production as a result of low energy and water costs
and provides the capability to construct facilities to meet the
demand that the coming adult recreational marijuana use will
create. Acreage Pharms also has plans to produce extracted or oil
based products oils are rapidly gaining market share in the
marijuana sector.
Invictus MD's wholly owned venture into consumer cannabis
devices; Poda Technologies Ltd. ("Poda"), is set imminently for a
spin out.
About Invictus MD Strategies Corp.
Invictus MD Strategies Corp., Canada's Cannabis Company, is focused on three
main verticals within the burgeoning Canadian cannabis sector:
Licensed Producers under the ACMPR including investment in the
fully licensed facilities operated by AB Laboratories Inc. and
Acreage Pharms Ltd.; Fertilizer and Nutrients through Future
Harvest Development Ltd.; and Cannabis Data and Delivery, with its
wholly owned subsidiary Poda Technologies Ltd.
For more information, please visit www.invictus-md.com.
On Behalf of the Board,
Dan Kriznic
Executive Chairman
Larry Heinzlmeir
Vice President, Marketing & Communications
604-537-8676
Cautionary Note Regarding Forward-Looking Statements: Statements
contained in this news release that are not historical facts are
"forward-looking information" or "forward-looking statements"
(collectively, "Forward-Looking Information") within the meaning of
applicable Canadian securities legislation and the United States
Private Securities Litigation Reform Act of 1995. Forward Looking
Information includes, but is not limited to, disclosure regarding
possible events, conditions or financial performance that is based
on assumptions about future economic conditions and courses of
action; and the plans for completion of the Offering, expected use
of proceeds and business objectives. In certain cases,
Forward-Looking Information can be identified by the use of words
and phrases such as "anticipates", "expects", "understanding", "has
agreed to" or variations of such words and phrases or statements
that certain actions, events or results "would", "occur" or "be
achieved". Although Invictus has attempted to identify important
factors that could affect Invictus and may cause actual actions,
events or results to differ materially from those described in
Forward-Looking Information, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended, including, without limitation, the risks and
uncertainties related to the Offering not being completed in the
event that the conditions precedent thereto are not satisfied. In
making the forward-looking statements in this news release,
Invictus has applied several material assumptions, including the
assumptions that (1) the conditions precedent to completion of the
Offering will be fulfilled so as to permit the Offering to be
completed on or about June 1, 2017;
(2) all necessary approvals will be obtained in a timely manner and
on acceptable terms; and (3) general business and economic
conditions will not change in a materially adverse manner. There
can be no assurance that Forward-Looking Information 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
Information. Except as required by law, Invictus does not assume
any obligation to release publicly any revisions to Forward-Looking
Information contained in this news release to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
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.
SOURCE Invictus MD Strategies