VANCOUVER, Jan. 31, 2018 /CNW/ - INVICTUS MD STRATEGIES
CORP.'s ("Invictus" or the "Company") (TSXV: IMH; OTC: IVITF; FRA:
8IS1) Acreage Pharms Ltd. ("Acreage Pharms") is pleased to
announce the acquisition of cannabis oil extraction equipment and
the hiring of key professionals to launch an extraction program to
serve Canada's expanding need for
high-quality cannabis oils.
The C02 extraction technology, on track for production, will use
Acreage Pharm's cannabis to extract and manufacture cannabis oils.
Acreage Pharms will apply for an oil license from Health Canada as
soon as it receives sales licenses expected.
The acquisition of a closed-loop C02 extraction system is
essential for Acreage Pharms market strategy. The system performs
Subcritical and Supercritical Fluid Extraction utilizing
high-pressure carbon dioxide to extract essential oils from
botanicals, using specific temperatures and pressures to withdraw
different components from plants. The innovative process produces
the highest-quality cannabis oils in the world.
Compared to solvent extractions, Acreage Pharms Supercritical
C02 extraction will be:
- Non-Toxic/Non-Carcinogenic. Oils extracted using this
technology do not contain petroleum particles.
- Safe. The system does not use potentially flammable or
explosive petroleum-based solvents.
- Carbon-Neutral/Environmentally Friendly. The system does
not emit carbon into the atmosphere.
- Customizable. With a wide range of temperatures,
pressures and flow rates to leverage, the system is capable of
fully withdrawing from botanicals like cannabis full profiles of
natural compounds.
- Premium quality. The advanced system is used by the best
companies to extract coffee, vanilla, tea, fruit and nut extracts
and aromas, omega-3 oils, fragrances, perfumes, tobacco extractions
for e-cigarettes, hop-oil extraction for beer, oil extractions for
alternative energies from algae and high-grade cannabis oil.
Supercritical C02 extraction offers the blossoming cannabis
industry the promise of understanding the myriad medical benefits
of cannabis. By giving concentrate makers so much control over the
process, it gains them access to cannabinoids within the plant
beside THC and CBD, which some researchers believe will be vital
components of ongoing cannabis research and development.
Both the Phase 1 and Phase 2 facilities at Acreage Pharms have a
total of approximately 40,000 square feet with expected 5,000 kg of
capacity beginning in February 2018
along with a further planned 80,000 square foot Phase 3 expansion
for total combined production capacity at Acreage Pharms of 19,000
kg in 2018. This will be ample supply to conduct oil extraction,
processing and development to supply the expanding medical market
and to prepare for the recreational market later this year.
The ambitious new technology program requires the guidance,
oversight and scientific savvy of seasoned professionals, and
Acreage Pharms is thrilled to add Chris
Kooner, RPh and Dr. Dejun Cui
to the team. Both of these pharmacy and agriculture veterans have
been with Acreage for six months, but now are pivoting their
responsibilities towards the new oils extraction program.
Chris will take over as Responsible Person in Charge (RPIC) for
Acreage Pharms. Chris, a registered pharmacist with years of
executive experience in pharmacy production labs, has dedicated
much of his career to building safe, efficient production protocols
at large pharmacies and then managing all aspects of production
within pharmacies. This work is extremely detailed and grounded in
science, and parallels cannabis oils production. With such broad
experience in both the pharmaceutical and now cannabis industries,
Chris has the full scope of knowledge.
Dr. Cui will oversee Quality Assurance at Acreage Pharms. His
long list of key responsibilities and duties includes:
- Developing a protocol for sampling and testing dried cannabis
to ensure representative results for the batch and the microbial
and chemical contaminants meet the specifications.
- Ensuring all products prior to release for sale is analyzed for
pesticide residues to verify their absence.
- Ensuring that cannabis oil must not contain residues of
prohibited solvents.
With more than 30 years of high-level experience in horticulture
and agriculture Dr. Cui is ideal for this mission-critical
position. Among other things, Dr. Cui has more than 25 years
experience in Integrated Pest Management, with specialties in
biological control agents, physical control,
botanical/bio-pesticides, entomology, plant pathology, agronomy and
greenhouse and growth chamber management. He also has extensive
experience working with the Cannabis sativa plant in
professional settings.
"Building a scientifically rigorous, safe and productive
extraction program has long been an Invictus goal," said Dan
Kriznic, Chairman and CEO of Invictus. "With our cannabis
production ramping-up on schedule, we now are prepared to begin
crafting the high-quality oils for Canada's growing medical market, as well as
the anticipated recreational market set to launch in July 2018. Our acquisition of the latest
extraction technology, along with the addition to our team of
agricultural and pharmacy professionals with advanced degree and
decades of combined experience, sets our extraction program on
strong footing immediately."
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 50% investment in
AB Laboratories Inc., located near Hamilton, Ontario which has both its
cultivation and sales license under ACMPR. Combined the two
licenses and an expected third license under AB Ventures Inc. are
expected to have an approximate annual run-rate production capacity
of 76,000 kg by 2019. 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, timing, 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 Ventures and
Acreage Pharms, Acreage Pharms' receipt of a sales license and the
success and timing of Acreage Pharms' expansion plans, expected
sales of inventory and the completion of the increase in the
Company's ownership of AB Labs pursuant to the definitive agreement
(the "Transaction") 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 that AB Labs, AB Ventures and Acreage
Pharms will satisfy all conditions for, and receive, regulatory
approval to sell medical cannabis at their production facilities'
full capacity, AB Ventures will satisfy all conditions for and be
granted a license under the ACMPR and will receive a development
permit on the expected terms, AB Ventures is able to successfully
build a production facility, Acreage Pharms will satisfy all
conditions for and successfully obtain the anticipated sales
license and will successfully complete its expansion plans, the
anticipated sales of inventory will take place on the terms and
timing expected by management, all conditions to the closing of the
Transaction will be satisfied and the Transaction will complete on
the terms set out in the definitive agreement and that the
legalization of recreational use of cannabis in Canada will occur as expected. 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 for their full production
capacity or at all, that AB Labs, AB Ventures or Acreage Pharms
will not reach full production capacity, that AB Ventures will not
be granted a license under the ACMPR or will not receive a
development permit on the expected terms or at all, that AB
Ventures is not able to successfully build a production facility,
that Acreage Pharms is not able to obtain the anticipated sales
license when expected by management or at all or is not able to
successfully complete its expansion plans, that the anticipated
sales of inventory will not occur on the terms and timing expected
by management or at all, that the Transaction will not complete on
the expected terms or at all and that the legalization of
recreational use of cannabis in Canada will not occur at all or as expected.
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