INVICTUS PROVIDES UPDATE ON OIL EXTRACTION PROGRAM
February 25 2019 - 1:16PM
INVICTUS MD STRATEGIES CORP. ("Invictus" or the "Company")
(TSXV: GENE; OTCQX: IVITF
; FRA: 8IS1) is
pleased to announce that its wholly-owned subsidiary, Acreage
Pharms Ltd. ("Acreage Pharms"), has successfully completed testing
on two batches of oil and is working to finalize its
application to Health Canada to allow for the sale of bottled
cannabis oil and cannabis resin.Acreage Pharms' closed-loop CO2
system performs Subcritical and Supercritical Fluid Extraction
utilizing high-pressure carbon dioxide to extract essential oils
from botanicals, using specific temperatures and pressures to
withdraw different components from plants. The system is operating
at full capacity to build inventory in anticipation of Acreage
Pharms receiving Health Canada approval. The new product line is
expected to include a 1-to-1 ratio of CBD to THC oil, high CBD oil,
and high THC oil for both the medial and recreational markets.
"We are expanding our portfolio to satisfy consumer demand,
adding oils and concentrates to our line-up of premium flower
products," said George E. Kveton, CEO of Invictus. " Research shows
oils are increasing in popularity and we need to remain nimble to
keep abreast of market trends.”
Separately, Invictus has also granted 150,000 stock options to a
certain advisor of the Company. Each stock option has an exercise
price of $0.98 and is exercisable into one common share of the
Company. The options vest immediately and are exercisable over a
period of five years. The stock options were granted subject to the
terms and conditions of the Company's Stock Option Plan.For more
information, please visit www.invictus-md.com.
On Behalf of the Board,George E. KvetonChief Executive Officer
and Director
Jessica MartinVice President, Public Relations and Regulatory
Affairs(833) 879-4363About Invictus
Invictus is a global cannabis company offering a selection of
products under a wide range of 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. To meet growing
demand, Invictus is expanding its cultivation footprint, with three
cannabis production facilities licensed under the Cannabis Act and
Cannabis Regulations in Canada. To accommodate international sales,
Invictus’ wholly-owned subsidiary, Acreage Pharms Ltd., has
designed and is currently building its Phase 3 purpose-built
cultivation facility to be European Union Good Manufacturing
Practices compliant. The Company is targeting for up to 50 percent
of its production to comprise medical cannabis. 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 70 Health
Canada approved strains and a multifaceted distribution strategy
including medical, adult-use, international, Licensed Producer to
Licensed Producer and retail stores. 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 that Acreage
Pharms is anticipated to obtain Health Canada approval to sell
cannabis oils and that Acreage Pharms’ cannabis oil product line is
expected include CBD 1-to-1 ratio oils and high THC oils 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 obtain
Health Canada approval to sell cannabis oils and that Acreage
Pharms’ cannabis oil product line will include CBD 1-to-1 ratio
oils and high THC oils. 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, that Acreage
Pharms will not be granted approval from Health Canada to sell
cannabis oils and that Acreage Pharms’ cannabis oil product line
will not include CBD 1-to-1 ratio oils and high THC oils. 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 accepts responsibility for the adequacy or accuracy of
this release.
Jessica Martin
Invictus
(833) 879-4363
jessica@invictus-md.com
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