VANCOUVER, Sept. 25, 2018
/CNW/ - INVICTUS MD STRATEGIES CORP. ("Invictus" or the
"Company") (TSXV: GENE; OTCQX: IVITF; FRA: 8IS1) is pleased to
have completed its first shipment of recreational cannabis to
British Columbia on time,
following its inaugural shipment to Alberta. Staff have been working around the
clock to meet aggressive deadlines set to ensure Invictus products
are available to adult consumers on October
17, 2018.
This significant milestone was made possible by the Company's
balanced and deliberate approach towards cultivation and regulatory
compliance. While Invictus focused on expansion of its cultivation
facilities, Acreage Pharms secured excise stamps and Health Canada
approved packaging for the adult recreational market early,
allowing Purchase Orders to be completed on time and without
issue.
"I am so proud of what our team has accomplished to date," said
Dan Kriznic, Invictus Chairman and CEO. "With just weeks remaining
until recreational cannabis becomes legal in Canada, it is amazing to see our vision come
to life. Now we are looking ahead to opening day, and we are
ready."
To date, Invictus' wholly-owned subsidiary Acreage Pharms has
secured provincial agreements for the upcoming adult recreational
market in British Columbia,
Alberta and Saskatchewan, with others to follow-suit. To
expand the Company's retail presence, Invictus is working in
collaboration with GTEC who expect to open 15 Cannabis Cowboy
stores in Alberta by October 17, 2018, one location and an e-commerce
platform in Saskatchewan, and
additional retail stores in Ontario as regulations permit.
Invictus is scaling up its cultivation facilities to support
local and international opportunities, with its Phase 3 and 4
expansion at Acreage Pharms constructed to support world-class
EU-GMP standards. The 90,000 square foot Phase 3 facility, expected
to be complete in January 2019, 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.
In order to grow and evolve with the market, Invictus is
employing a five-pillar distribution channel strategy that includes
medical, recreational, international, Licensed Producer to Licensed
Producer, and retail stores. Invictus products will be sold under
the omnichannel TerraWorld and feature four lifestyle-inspired
cannabis brands for recreational users: Dukes, Zooey, Sterling
& Hunt, and Sinister.
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 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