VANCOUVER, Sept. 24, 2018 /CNW/ - INVICTUS MD
STRATEGIES CORP. ("Invictus" or the "Company") (TSXV:
GENE) (OTCQX: IVITF) (FRA: 8IS1) is pleased to provide an
update on its progress towards European Union Good Manufacturing
Practices ("EU-GMP") certification. Invictus' wholly-owned
subsidiary, Acreage Pharms Ltd. ("Acreage Pharms"), has designed
and is currently building its Phase 3 and 4 purpose-built
cultivation facilities to be EU-GMP compliant. EU-GMP standards are
the most stringent regulations in the world and our team at Acreage
Pharms are working together with professional consultants in both
Canada and Germany to meet these standards.
The 90,000 square foot Phase 3 facility has an expected
completion date of January 2019 and
is fully funded as a result of the previously announced
$25.5 million loan from ATB
Financial. Approximately $10 million
has been dedicated to the 90,000 square foot Phase 4 facility,
which will commence construction upon completion of Phase 3.
The Invictus sales approach is defined by five pillars of
distribution including medical, adult-use, international, Licensed
Producer to Licensed Producer and retail stores. Our progress
towards EU-GMP certification is a cornerstone for our international
plan. Despite countries such as Germany, Italy, Norway, Greece, Poland, Switzerland, and the United Kingdom having implemented, or are in
the process of implementing, some form of legal medical cannabis,
many do not permit the cultivation of cannabis on home soil.
Invictus has signed an LOI for cannabis sales into Germany and plans to supply the German market
with medical cannabis upon successful receipt of its EU-GMP
certification (see press release dated June
19, 2018, for further details).
The Importer, whose name will remain undisclosed until execution
of a definitive Offtake Agreement, boasts a vast distribution
network of 20,000 pharmacies, with a focus on product marketing and
professional education. The Importer's experienced management team
previously led an international joint venture successfully to the
final stage of the German tender for domestic cannabis
production.
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
(833) 879-4363
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 2020. 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 timing,
approval and completion of the Arrangement and related matters and
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, the Company will not obtain the requisite
approvals to complete the Arrangement, 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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SOURCE Invictus MD Strategies