VANCOUVER, Nov. 6, 2017 /CNW/ - INVICTUS MD STRATEGIES
CORP. ("Invictus MD" or the "Company") (TSXV: IMH; OTC: IVITF; FRA:
8IS1), is pleased to announce the appointment of Dylan Easterbrook as Chief Financial
Officer.
Mr. Easterbrook is a seasoned accounting and financial
professional, who most recently was controller of a publicly traded
global fibre optic connectivity solution provider. Prior to
that role he was with Ernst & Young, one of the largest
professional services firms in the world and one of the Big Four
accounting firms, where he led audit engagements for both public
and privately held companies from a variety of industries,
including the emerging markets.
Dylan is a Canadian Chartered Professional Accountant (CPA, CA),
and also holds a Bachelor of Science in Life Sciences degree
from the University of British
Columbia.
The company wishes to thank Mr. Herrick Lau for his
contributions to Invictus MD and commitment in assisting the
Company with its goal to become Canada's Cannabis Company.
Further, the Company has issued 150,000 incentive stock options
(the "Options") to Mr. Easterbrook. The Options, of which one third
will vest in three months, one third in nine months and one third
in fifteen months, are exercisable for a period of five years at an
exercise price of $1.19 per
share. The Options were granted under and are subject to the
terms and conditions of the Company's Stock Option Plan.
"We are excited about Dylan's appointment as he brings solid
experience and capabilities that match our needs as we continue to
develop," said Dan Kriznic, Chairman & CEO, of Invictus
MD. "The timing is ideal as we continue to execute on an aggressive
development strategy aimed at creating Canada's Cannabis Company. Our Company's
balance sheet is very strong; it has minimal debt, and the
approximate $26 million cash in the
treasury has been reserved to expand the Company's canopy footprint
on its 250 acres of property, making it one of the top producers
under the Access to Cannabis for Medical Purposes Regulations
("ACMPR"). This production is needed to meet the significant demand
for high quality, standardized, pesticide free product not only for
the existing medical market but also to accommodate the
recreational market that will commence mid 2018.
"Invictus MD is seen as a real leader within this remarkably
young and fast-growing cannabis sector," added Mr. Easterbrook. "I
am excited about my new role and look forward to contributing and
helping Invictus MD reach the next level in its unprecedented
journey. "
About Invictus MD Strategies Corp.
Invictus MD Strategies Corp. is focused on two main verticals
within the Canadian cannabis sector, namely the Licensed
Producers under the ACMPR, being its 100% investment in Acreage
Pharms Ltd., located in West-Central Alberta, and 33.3% investment
AB Laboratories Inc., located near Hamilton, Ontario. Combined the two licenses
expect to have run-rate production capacity of 6,000 kg commencing
January 2018. Invictus MD is currently fully funded to expand
operations at its two ACMPR licensees to approximately 150,000 sq.
ft., which would net approximately 20,000 kg per annum. In addition
to ACMPR licenses the Company has an 82.5% investment in Future
Harvest Development Ltd. a Fertilizer and
Nutrients manufacturer based in Kelowna, British Columbia.
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, assumptions or
expectations of future performance, including the potential
production capacity of AB Labs, AB Ventures and Acreage Pharms'
production facilities, the granting of regulatory approval and
anticipated timing of AB Labs reaching full production capacity,
the granting of a sales license under the ACMPR to AB Labs, AB
Ventures and Acreage Pharms, the success and timing of AB Labs'
release of additional lots; and the success and timing of Acreage
Pharms' expansion plans, 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 the assumptions AB Labs, AB Ventures and Acreage Pharms
will receive regulatory approval to sell medical cannabis at their
production facilities' full capacity, AB Ventures will be granted a
license under the ACMPR, AB Ventures is able to successfully build
a production facility and Acreage Pharms is able to successfully
complete its expansion plans. 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 risk that
AB Labs, AB Ventures and Acreage Pharms will not receive regulatory
approval to sell medical cannabis at their production facilities or
reach full production capacity, AB Ventures will not be granted a
license under the ACMPR, AB Ventures is not able to successfully
build a production facility; and Acreage Pharms is not able to
successfully complete its expansion plans. 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.
SOURCE Invictus MD Strategies