VANCOUVER, May 23, 2018 /CNW/ - INVICTUS MD STRATEGIES
CORP. ("Invictus" or the "Company") (TSXV: GENE; OTC: IVITF; FRA:
8IS1) is pleased to highlight major milestones as the
fast-growing cannabis Company prepares for the coming recreational
marketplace with new construction and development projects, fresh
products and a dynamic and muscular approach to retail sales.
Invictus has raised over $93 million
dollars since inception and deployed funds into acquiring
and expanding licenses under the Access to Cannabis for Medical
Purposes Regulations ("ACMPR").
"Invictus was just beginning its march towards cannabis
cultivation and sales a year ago. The news then was more about
building plans and establishing goals and now includes ongoing
expansion, cannabis sales and distribution strategies," said
Invictus Founder and CEO Dan
Kriznic. "Health Canada
recently awarded our second sales license. We now have sales
license in Acreage Pharms Ltd. ("Acreage Pharms") in
Alberta and AB Laboratories Inc.
("AB Labs") in Ontario. Our
ambitious retail plan involves building out dispensaries across
three provinces, as well as partnerships with multiple other sales
platforms and industry colleagues. We are launching a
first-of-its-kind zero-cleaning vaporizer called PODA, cultivating
an ever-increasing portfolio of strains, and meeting ongoing
construction and development goals. We have innovative cultivation
facilities in two provinces with an option to acquire a pre-license
facility that has been built out and is awaiting final licensing in
a third province. The message of Invictus and its ongoing vision is
communicated loud and clear by our new Chief Evangelist Officer —
rock 'n' roll legend and entrepreneurial engine Gene Simmons, one of the founders of the seminal
band KISS."
Some accomplished milestones include:
- Invictus' wholly owned subsidiary, Acreage Pharms received
license to sell Cannabis under the ACMPR.
- Launched an ambitious cannabis oil extraction program, an
investment that involved the purchase of top-of-the-line C02
extraction equipment and the hiring of key extraction
personnel.
- In January 2018, Invictus sold
its first dried flower from subsidiary AB Labs to Canopy Growth
Corporation's (TSX:WEED) CraftGrow line on Tweed Main Street's
online store. The online platform features only high-quality
cannabis by an elite group of producers.
- Increased its strategic investment in AB Labs from 33.3 percent
ownership to 50 percent ownership.
- Acreage Pharms acquired 23 new strains, offering even more
depth and breadth to the company's cannabis cultivation
portfolio.
- AB Labs completes $5 million
purchase of land and building for its Phase II expansion.
- Appoints music legend and entrepreneurial powerhouse
Gene Simmons, one of the founders of
the seminal rock 'n' roll band KISS, as Chief Evangelist Officer
and changes TSX Venture Exchange symbol from IMH to GENE.
- Completes 33,000-square-foot Phase 2 construction for Acreage
Pharms, and begins preparing site for 80,000-square-foot Phase 3
expansion project for total of 120,000 square feet exiting
2018.
- Unveils aggressive retail strategy, involving dispensaries in
three provinces and strong partnerships with other leading industry
leaders for cannabis sales.
- Announces summer 2018 release of Poda, 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 and residue. As a result, the medical-grade device can be
used for other products, including tobacco and coffee.
- Announces that it had entered into a binding letter of intent
for an option to acquire 100% of the outstanding shares of a
British Columbia ACMPR applicant with two properties one of which
is on 32 acres with low cost of power and significant land to build
expansion.
The anticipated year ahead includes the launch of retail stores
and sales of cannabis through agreements with other industry
partners in addition to expanding square footage in three provinces
to meet the domestic and global demand for cannabis. Our expected
square footage footprint over the next 24 months are as
follows:
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
|
|
50,000
|
50,000
|
Option Co
|
2
|
British
Columbia
|
|
|
250,000
|
Total Option
Co
|
|
|
-
|
50,000
|
300,000
|
Total
Combined
|
|
|
56,000
|
327,000
|
817,000
|
"We have done everything necessary to lay a sturdy foundation
for the coming months, when Canada
is expected to commence sales of recreational cannabis," said
Kriznic. "We purchased and developed — and continue to purchase and
develop — key properties for cannabis cultivation and
manufacturing. We built an exceedingly strong management team,
adding entrepreneurial legend Gene
Simmons to a high-profile leadership position. We forged
strong and fruitful partnerships with other industry leaders like
Canopy Growth Corporation. We developed and are poised to execute a
savvy and robust retail plan. We made important extraction and
cultivation investments. We announced plans for a game-changing
zero-cleaning vaporizer. We are proud of the parade of
accomplishments, and with immense anticipation look forward to the
thrilling year ahead."
About Invictus
Invictus owns and operates two cannabis production sites under
the ACMPR in Canada with the
vision of producing a variety of high quality and low cost cannabis
products and strains to the global market place as regulations
permit. The Company's wholly owned subsidiary Acreage Pharms Ltd.
("Acreage Pharms") is located in West-Central Alberta.
Invictus also owns 50% of AB Laboratories Inc. ("AB Labs")
located in Hamilton, Ontario.
During the first quarter of 2018 AB Labs submitted a secondary
license to Health Canada for a nearby property on 100 acres under
the name AB Ventures Inc. ("AB Ventures"). Recently the
Company announced that it has entered into a binding letter of
intent for an option to acquire 100% of the outstanding shares of
an applicant (the "Option Co") the ACMPR.
Combined, the licensed producers owned by Invictus expect to
have approximately 327,000 square feet of cannabis production
capacity by the end of 2018 and 817,000 square feet of cannabis
production capacity by the end of 2019.
Gene Simmons, music legend and
media mogul, conveys the vision of Invictus as the Chief Evangelist
Officer.
Invictus owns 100% of Poda and its related intellectual
property, 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 and residue.
In addition to the ACMPR licenses, the Company has an 82.5%
investment in Future Harvest Development Ltd. a high quality
Fertilizer and Nutrients manufacturer based in Kelowna, British Columbia that has been in
operation for over 20 years under the brand Plant Life Products and
Holland Secret.
For more information, please visit www.invictus-md.com.
On Behalf of the Board,
Dan Kriznic
Chairman & CEO
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 development of
additional cannabis strains, the potential acquisition of Option
Co, the potential production capacity of Option Co, AB Labs, AB
Ventures and Acreage Pharms, the completion of Option Co, AB
Ventures and Acreage Pharms' production facilities, the granting of
regulatory approval and anticipated timing of Option Co, AB Labs
reaching full production capacity, the granting of Option Co's
first and second license, AB Labs secondary license, the granting
of a sales license under the ACMPR to Option Co and Acreage Pharms,
expected sales of inventory and the legalization of the
recreational use of marijuana in Canada in 2018 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 Acreage Pharms will be successful in developing
additional cannabis strains, that the Company will be successful in
exercising its option to acquire Option Co including obtaining TSX
Venture Exchange approval of the acquisition, that Option Co and AB
Labs will be successful in reaching their potential production
capacity on the timeline expected by the Company, Option Co, AB
Ventures and Acreage Pharms' production facilities will be
completed as anticipated, regulatory approval will be granted as
anticipated, Option Co and AB Labs will reach full production
capacity on the timeline anticipated by the Company, Option Co 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,
Option Co and Acreage Pharms will be granted its sales license
under the ACMPR on the terms and timeline anticipated by the
Company, expected sales of inventory will be met and the
legalization of the recreational use of marijuana 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, Acreage Pharms will not be successful in
developing additional cannabis strains or, if developed, such
strains will not have the benefits anticipated by the Company, the
Company will not complete the acquisition of Option Co, Option Co
and AB Labs will not be successful in reaching its potential
production capacity, Option Co, 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 Option Co and
AB Labs reaching full production capacity will be delayed, AB Labs
will not be granted their secondary license, Option Co will
not be granted its first and second licenses and Option Co and
Acreage Pharms will not be granted its sales license under the
ACMPR, licenses or approvals being granted on terms or timelines
that are materially worse than expected by the Company, expected
sales of inventory will not be met and the legalization of the
recreational use of marijuana 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.
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SOURCE Invictus MD Strategies