INVICTUS EXPANDS CULTIVATION FOOTPRINT, ADDS NEW STRAINS TO PORTFOLIO
July 09 2018 - 12:31PM
InvestorsHub NewsWire
Vancouver, BC -- July 09,
2018 -- InvestorsHub NewsWire -- INVICTUS MD STRATEGIES CORP.
(“Invictus” or the “Company”) (TSXV: GENE; OTC: IVITF; FRA: 8IS1)
announced
today the purchase of an additional acre of neighboring land
adjacent to AB Laboratories Inc. (“AB Labs”) property, dedicated to
future expansion opportunities at the facility. The acquisition
represents significant progress in AB Labs’ growth strategy which
involves building a strong production profile in state-of-the-art
cultivation spaces.
Construction
of the Phase 2 expansion at AB Labs remains on-schedule. Phase 2
facility will add 40,000 square feet of operating space, while
increasing total cultivation capacity to 56,000 square feet.
Currently, AB Labs’ 16,000 square foot Phase 1 facility is
operating at full capacity, having completed its second transfer of
63 kg of dried cannabis to Canopy Growth Corporation’s (TSX: WEED)
Tweed’s elite CraftGrow line.
AB Labs is
also focused on expanding its strain profile to meet Invictus’
dynamic and muscular approach to retail sales ahead of the upcoming
recreational marketplace. AB Labs’ latest selection, originating
from a partner in Holland, offers a mix of strains
including:
“Expanding both our
cultivation space and strain selection is key to driving growth in
a sector that will see increasing demand from both the public and
private sector,” said Invictus CEO Dan Kriznic. “By constructing
state-of-the-art production and processing facilities, our team of
award-winning horticulturalists can continue to innovate and
deliver high-quality products that consumers can trust.”
For more information, please visit www.invictus-md.com.
On Behalf of the Board,
Dan Kriznic
Chairman and CEO
Jessica Martin
Vice President, Public Relations and Regulatory Affairs
(647) 828-9655
About Invictus
Invictus owns and operates two cannabis
production facilities, both with sales licenses, under the ACMPR in
Canada, with the vision of producing a variety of high quality and
low-cost cannabis products to the global market, as regulations
permit. The Company’s wholly owned subsidiary, Acreage Pharms Ltd.
(“Acreage Pharms”), is located in West-Central
Alberta. The Company’s 50% owned AB Laboratories Inc. (“AB
Labs”), is located in Hamilton, Ontario. AB Ventures Inc.
(“AB Ventures”) owns 100 acres of land near
Hamilton, Ontario, to be used for future cannabis cultivation.
Recently, the Company announced that it has entered into a binding
letter of intent for an option to acquire an applicant (the
“OptionCo”) under the ACMPR. Combined, the Company
expects to have approximately 262,000 and 846,000 square feet of
cannabis production capacity by the end of 2018 and 2019,
respectively.
Gene Simmons, music legend and media
mogul, conveys the vision of Invictus as the Chief Evangelist
Officer.
The Company’s wholly owned subsidiary,
Poda Technologies Ltd. (“Poda”), has developed
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 or residue.
Finally, the Company’s
82.5% owned Future Harvest Development Ltd. (“Future
Harvest”) is a high-quality Fertilizer and
Nutrients manufacturer, based in Kelowna, British Columbia.
Future Harvest has been in operation for over 20 years under the
brand Plant Life Products and Holland Secret.
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 expected use of the proceeds from the Company’s
option and warrant exercises and the potential production capacity
of OptionCo, AB Labs, AB Ventures and Acreage Pharms, 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” or “would” 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 there will be no material
change in the Company’s business or market conditions that will
require the Company to alter its current anticipated use of the
proceeds from the option and warrant exercises that OptionCo, AB
Labs, AB Ventures and Acreage Pharms will be successful in reaching
their potential production capacity, OptionCo, AB Labs, AB Ventures
and Acreage Pharms’ production facilities will be completed as
anticipated, regulatory approval will be granted as anticipated,
OptionCo, AB Labs, AB Ventures and Acreage Pharms will reach full
production capacity on the timeline anticipated by the
Company,. 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, there will be
a material change in the Company’s business or market conditions
that will require the Company to alter its current anticipated use
of the proceeds from the option and warrant exercises OptionCo, AB
Labs, AB Ventures and Acreage Pharms will not be successful in
reaching its potential production capacity, OptionCo, AB Labs, 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 OptionCo, AB Labs, AB Ventures and Acreage Pharms
reaching full production capacity will be delayed. 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.
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.
Invictus MD Strategies (TSXV:GENE)
Historical Stock Chart
From Apr 2024 to May 2024
Invictus MD Strategies (TSXV:GENE)
Historical Stock Chart
From May 2023 to May 2024