ACREAGE PHARMS SECURES SUPPLY AGREEMENT WITH ALBERTA GAMING, LIQUOR & CANNABIS COMMISSION
August 29 2018 - 8:48AM
InvestorsHub NewsWire
Vancouver, BC
-- August 29, 2018 -- InvestorsHub NewsWire -- INVICTUS MD
STRATEGIES CORP. ("Invictus" or the "Company") (TSXV: GENE; OTC: IVITF; FRA:
8IS1) is pleased
to announce that its wholly-owned Alberta subsidiary, Acreage
Pharms Ltd. (“Acreage Pharms”), has signed a
Purchase Order (“PO”) with Alberta Gaming, Liquor
and Cannabis (“AGLC”) to supply the province with
a selection of premium cannabis products for the upcoming adult
recreational market. The agreement includes an initial one-year
term, with two one-year renewal options.
Invictus’ Acreage Pharms Ltd. (“Acreage
Pharms”), fully licensed under the Access to Cannabis for
Medical Purposes Regulations (“ACMPR”), is scaling
up with new state-of-the-art purpose-built indoor facilities.
Phases 1, 2 and 3 are expected to bring Acreage Pharm’s gross
cultivation space to 130,000 square feet by January 2019, followed
by Phase 4 which will add an additional 90,000 square feet, for a
total production capacity of 220,000 square
feet.
To complement Acreage Pharms’ portfolio of
award-winning strains, Invictus has partnered with world-leading
Authentic Brands Group (“ABG”) in New York to
launch a line of distinct lifestyle inspired cannabis brands that
feature its high-quality products for patients and adult
recreational users. Products will include dried flowers, oils and
concentrates, and consumables as regulations permit. The
Company expects to launch one medical brand and four recreational
brands in the coming weeks.
“On October 17, 2018, retailers across Alberta
and the province’s only legal online store, albertacannabis.org,
will have high-quality, locally grown cannabis products to offer
consumers,” said Dan Kriznic, Chairman and CEO of Invictus. “This
agreement is great news for the province of Alberta. Acreage did
not have its sales license when the initial application was
submitted to AGLC and was therefore excluded from the initial AGLC
announcement of approved licensed producers (LP). The provinces,
including Ontario, have the ability to approve supply agreements on
an ad-hoc basis following the initial agreements with LP’s. We
continue to press on towards multiple supply agreements across
Canada with our initial main focus to be our home province of
Alberta.”
The PO with AGLC is the Company’s second
provincial supply agreement to service the adult-use market and
falls in-line with Invictus’ ambitious five-pillar distribution
strategy that includes medical, adult-use, international, LP to LP
and retail stores. To date, the Company has entered into supply
agreements with British Columbia and Alberta for recreational
product and a Letter of Intent (“LOI”) with
Germany for medical product, while awaiting responses to
Expressions of Interest (“EOI”) submitted to
additional provinces including Ontario.
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
(604)
537-8676
About Invictus
Invictus is a global cannabis company offering a
selection of products under a wide range of lifestyle brands. Our
integrated sales approach is defined by five pillars of
distribution including medical, adult-use, international, Licensed
Producer to Licensed Producer and retail stores.
Invictus has partnered with business leaders to
convey our corporate vision, including KISS music legend and
business mogul Gene Simmons as our Chief Evangelist Officer, and
global branding agency Authentic Brands Group. Invictus is
expanding its cultivation footprint, with two cannabis production
facilities fully licensed under ACMPR in Canada and a third
awaiting approval, featuring 100,000 square feet of available grow
space today with 200,000 expected by January 2019 and 1 million by
end of 2019. The Company will earmark 50 per cent of production to
the medical and recreational markets, respectively. To ensure
consistency in quality and supply, Invictus maintains all aspects
of the growing process through its subsidiary, Future Harvest
Development Ltd., a high-quality Fertilizer and Nutrients
manufacturer. Invictus drives sustainable long-term shareholder
value through a diversified product portfolio with over 69 Health
Canada approved strains and a multifaceted distribution strategy
including medical, recreational, international and retail. For more
information visit www.invictus-md.com.
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
Invictus, 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 Invictus will be successful in reaching its
potential production capacity, its production facilities will be
completed as anticipated, regulatory approval will be granted as
anticipated, Invictus will reach full production capacity on the
timeline anticipated by the Company, and no unforeseen
construction delays will be experienced. 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, Invictus will not be successful in
reaching its potential production capacity, its production
facilities will not be completed as anticipated, and licenses
or approvals being granted on terms or timelines that are
materially worse than expected by the Company. 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.
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