INVICTUS PROVIDES PROGRESS UPDATE ON LICENSED PRODUCER EXPANSION
March 04 2019 - 9:49AM
INVICTUS MD STRATEGIES CORP. ("Invictus" or the "Company")
(TSXV: GENE; OTCQX: IVITF
; FRA: 8IS1) is
pleased to provide an update on production and expansion plans at
its Licensed Producers: Acreage Pharms Ltd. (“Acreage Pharms”), AB
Laboratories Inc. (“AB Labs”) and 0989561 B.C. Ltd. ("Canandia").
Invictus is proud to have fulfilled 100 per cent of provincial
product orders to date and looks to further strengthen its sales
and distribution relationships with both public and private
enterprises as the Company’s facilities reach full operating
capacity. A production footprint of 189,000 square feet is
underway, with more capacity to come online commensurate with
market needs and funding.
Acreage Pharms Invictus’ flagship production hub, Acreage Pharms
is well advanced in the internal layout, equipping and servicing of
the 45,000 square foot West Wing of its Phase III facility in
Edson, Alberta. Together with the East Wing, the new facility is
anticipated to feature 90,000 square feet of total production
capacity and is designed to be European Union Good Manufacturing
Practices ("EU-GMP") compliant. A strategic imperative for the
Company is to obtain EU-GMP certification, which is a requirement
to sell and distribute medical cannabis to Germany, and across the
European Union. For further details on Invictus’ five-year 10,000
kg supply agreement with Deutsche Medizinalcannabis GmbH in
Germany, please refer to Invictus’ press release dated December 20,
2018. Acreage Pharms’ Phase I and Phase II facilities are now
operating at full capacity with continuous harvests and are
realizing productivity efficiencies from the automation of their
harvesting and packaging lines.
AB Labs
AB Labs is nearing completion of its Phase II facility in
Ancaster, Ontario. The new facility is anticipated to add 40,000
square feet of production capacity to its current operations, for a
total of 55,000 square feet. AB Labs is expected to finalize its
evidence package by mid-March to support a Confirmation of
Readiness submission to Health Canada.
Its Phase I facility is operating at full capacity with bulk
transfers shipped to Acreage Pharms and other Licensed Producers.
AB Labs’ strain variety research and development continues
unabated, with fifteen new strains to be used in the Phase II
facility once ready, adding significant product variety to
Invictus’ product portfolio.
Canandia
Canandia features two properties located in Delta (the "Delta
Location") and Mission (the "Mission Location"), British Columbia.
The Delta Location features 4,000 square feet of production
capacity and recently received its business-to-business license for
cannabis sales under Health Canada’s Cannabis Act and Cannabis
Regulations. The Delta Location is anticipated to complement
Invictus’ production and product profile with its small batch craft
cannabis supply.
Canandia’s Mission Location includes 32 acres of buildable land,
expandable to up to one million square feet of production capacity
under one license. The Mission Location has received approval from
the Fraser Valley Regional District and is currently awaiting
approval from the Agriculture Land Commission. The Mission Location
taps into wholesale energy costs with 38 MG Watt service at the
property line, and access to an ample water supply from underground
aquifers, making it a strategically attractive and cost competitive
addition to Invictus' current cultivation footprint.
For more information, please visit www.invictus-md.com.On Behalf
of the Board,George E. KvetonChief Executive Officer and
DirectorJessica MartinVice President, Public Relations and
Regulatory Affairs(833) 879-4363About InvictusInvictus is a global
cannabis company offering a selection of products under a wide
range of brands. Our integrated route-to-customer approach is
defined by five pillars of sales and distribution including
medical, adult-use recreational, retail, Licensed Producer to
Licensed Producer and international. 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 domestic and international sales,
Invictus’ wholly-owned subsidiary, Acreage Pharms Ltd., is well
advanced in 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 participates in 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.Neither the
TSX Venture Exchange nor its Regulation Services Provider accepts
responsibility for the adequacy or accuracy of this
release.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 the Company
anticipates that its facilities will reach full operating capacity,
the Company anticipates that its production footprint will meet its
year-end targets, that the Company anticipates that Acreage Pharms’
new facility will meet production capacity targets, that the
Company anticipates that Acreage Pharms’ new facility will obtain
EU-GMP certification, that the Company anticipates that AB Labs
will complete its Phase II facility, that the Company anticipates
that AB Labs’ Phase II facility will add 40,000 square feet of
production capacity, that the Company anticipates that AB Labs will
finalize its evidence package by mid-March to support a
Confirmation of Readiness submission to Health Canada and that the
Company anticipates that new strains will be used in the Phase II
facility, is a forward-looking statement 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 the Company’s facilities will reach full operating
capacity, that the Company’s production footprint will meet its
year-end targets, that Acreage Pharms’ new facility will meet
production capacity targets, that Acreage Pharms’ new facility will
obtain EU-GMP certification, that AB Labs will complete its Phase
II facility, that AB Labs’ Phase II facility will add 40,000 square
feet of production capacity, that AB Labs will finalize its
evidence package by mid-March to support a Confirmation of
Readiness submission to Health Canada and that new strains will be
used in the Phase II facility. This forward-looking statement is
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 the
Company’s facilities will not reach full operating capacity, that
the Company’s production footprint will not meet its year-end
targets, that Acreage Pharms’ new facility will not meet production
capacity targets, that Acreage Pharms’ new facility will not obtain
EU-GMP certification, that Acreage Pharms’ will not be able to sell
and distribute medical cannabis to Germany and across the European
Union, that AB Labs will not complete its Phase II facility, that
AB Labs’ Phase II facility will not add 40,000 square feet of
production capacity, that AB Labs will not finalize its evidence
package by mid-March to support a Confirmation of Readiness
submission to Health Canada, that new strains will not be used in
the Phase II facility and that Invictus’ product portfolio will not
expand. 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.
- canandia
- Acreage Pharms Phase III
Jessica Martin
Invictus
(833) 879-4363
jessica@invictus-md.com
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