INVICTUS ANNOUNCES AB VENTURES INC. UPDATE
July 02 2019 - 9:00AM
Vancouver, BC, July 2, 2019 - INVICTUS MD STRATEGIES
CORP. ("Invictus" or the "Company") (TSXV: GENE; OTCQX: IVITF; FRA:
8IS2) Mr. Trevor Dixon, Chief Executive Officer of
Invictus, is pleased to report that AB Ventures Inc. (“AB
Ventures”), a company which Invictus is a 25% shareholder, is a
late stage applicant to obtain a cultivation license under the
Cannabis Act. AB Ventures received the approval to proceed to
construction and will submit its evidence package upon completion
of such construction. Notification of review was granted on May 10,
2019 immediately following Health Canada’s notice of change to
application requirements and procedures.
Mr. Ripa, Chief Operating Officer of the Company and a 75%
shareholder of AB Ventures, advises, “AB Ventures has completed all
conditions set out by the municipality to begin construction on our
new 22,000 sq. ft. facility located on 100 acres of rural property
only minutes from the recently completed AB Laboratories Inc.’s
location previously announced on June 26, 2019. AB
Laboratories Inc. is a company that is a 50% owned subsidiary of
Invictus. AB Ventures has started with infrastructure
upgrades and will begin building construction immediately
thereafter. The project timeline has been longer than
expected, but we are excited that approval has been received and a
start date is in the near future.”
The AB Ventures application was amended in October 2018 to
include outdoor production. The site planning and security features
were submitted which also received authorization to proceed. Mr.
Ripa notes, “It is our intention to complete infrastructure for
outdoor production on the first 25 acres this summer. AB
Ventures is expected produce starting materials in early 2020 with
our first outdoor crop expected to be planted in late spring
2020.”
On Behalf of the Board
Trevor Dixon
Chief Executive Officer
Investor Relations 1-844-800-6086
E-Mail: connect@invictus-md.com
About Invictus
Invictus is a global cannabis company with a focus on the
Canadian cannabis space, offering a selection of products under a
wide range of cannabinoid profiles that fit the demand of the
Company’s medical clients and retail customers. The Company’s
integrated sales approach is defined by five pillars of
distribution including medical, adult-use, international, Licensed
Producer to Licensed Producer and sales to provinces.
To meet growing demand, Invictus is expanding its cultivation
footprint with three cannabis production facilities licensed under
the Cannabis Act, which replaced the Access to Cannabis for Medical
Purposes Regulations in Canada. Invictus’ wholly-owned subsidiary,
Acreage Pharms Ltd.’s (“Acreage”) Phase I and Phase II facilities
are in full production and Acreage is completing its Phase III
cultivation facility. AB Laboratories Inc., a company which is a
50% owned subsidiary of Invictus continues its cultivation facility
expansion. Invictus’ wholly owned subsidiary 0989561 B.C. Ltd. (dba
Canandia Bioceuticals) Delta facility is a licensed producer and
has received its sales license issued by Health Canada under the
Cannabis Act. Another of Invictus’ wholly owned subsidiaries,
2015059 Alberta Ltd. (dba Leaf Wise), continues to connect medical
clients to physicians for medical cannabis and to Invictus’ fully
licensed cannabis producers under the Cannabis Act. Future
Harvest Development Ltd., a company which is a 82.5% owned
subsidiary of Invictus continues to produce high-quality fertilizer
and nutrients which are supplied to licensed cannabis producers.
Invictus is targeting up to 50 percent of production to medical
cannabis. Invictus drives sustainable long-term shareholder value
by continuing to develop Invictus’ Canadian production of medical
and recreational cannabis products. 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. 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
AB Ventures is expected to complete infrastructure for outdoor
production on its first 25 acres this summer, AB Ventures is
expected produce starting materials in early 2020 with its first
outdoor crop expected to be planted in late spring 2020 are
forward-looking statements and contains 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 AB Ventures will complete
infrastructure for outdoor production on its first 25 acres this
summer, AB Ventures will produce starting materials in early 2020
with its first outdoor crop planted in late spring 2020. 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 AB Ventures will not complete
infrastructure for outdoor production on its first 25 acres by this
summer or at all, AB Ventures will not produce starting materials
in early 2020 or at all and will not be able to plant its first
outdoor crop by late spring 2020 or at all. 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.
Kathy Love
Invictus
kathy@invictus-md.com
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