Invictus Reflects on Major Milestones Including 2 Sales Licenses under ACMPR
May 23 2018 - 10:21AM
InvestorsHub NewsWire
Vancouver, BC -- May 23, 2018 -- InvestorsHub
NewsWire -- 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 approximately $75 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:
“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
Larry
Heinzlmeir
Vice
President, Marketing & Communications
604-537-8676
In the
United States
Terry
Wills
twills@willscom.com
310-877-1458
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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