Invictus' Acreage Pharms' Acquires 23 New Strains
February 21 2018 - 10:53AM
InvestorsHub NewsWire
Vancouver, BC -- February 21,
2018 -- InvestorsHub NewsWire -- INVICTUS MD STRATEGIES CORP.’s
("Invictus" or the "Company") (TSXV: IMH; OTC: IVITF; FRA: 8IS1) Acreage Pharms
Ltd. (“Acreage Pharms”) is pleased to announce it
has acquired 23 new cannabis strains. This marks an important step
in Acreage Pharms’ march towards full-capacity cannabis production
and sale this year.
“The acquisition of these strains broadens Acreage Pharms strain
variety in preparation for the recreational market," said Dan
Kriznic, Chairman and CEO of Invictus. “The timing is ideal, as our
Phase 2 expansion includes 11 new flowering rooms, all of which
will be needed to accommodate this welcome and dramatic expansion
of strains.”
The collaboration allows Acreage Pharms to import genetics,
including seed and starting material. As a result, Acreage Pharms’
already innovative and ambitious genetics breeding program is
better able to offer a variety of strains that fully reflect the
genetic diversity of cannabis, including its many health-enhancing
properties. Once the new strains arrive at Acreage Pharms, in
approximately 10 days, Acreage Pharms will begin creating and
selecting specific genomes for production for medical and
recreational use.
Production in the Phase 2 facility will reach 5,000 kg cannabis
production per year. Phases 1 and 2 represent 40,000 square feet of
growing space, and Phase 3 — which due to excellent progress on
Phase 2 construction is on track for 2018 completion — will add
another 80,000 square feet to Acreage Pharms canopy. The combined
projects are projected to allow Acreage Pharms to produce 19,000 kg
in 2018.
“Our team of plant scientists and horticultural engineers have been
eagerly anticipating this exciting enlargement of our reservoir of
strains,” said Kriznic. “We all remain extremely keen on offering
patients and consumers a diverse suite of cannabis profiles this
year.”
About Invictus MD Strategies Corp.
Invictus MD Strategies Corp. is focused on two main verticals
within the Canadian cannabis sector, namely the Licensed
Producers under the ACMPR, being its 100% investment in Acreage
Pharms Ltd., located in West-Central Alberta, and 50% investment in
AB Laboratories Inc., located near Hamilton, Ontario which has both
its cultivation and sales license under ACMPR. Combined the two
licenses and an expected third license under AB Ventures Inc. are
expected to have an approximate annual run-rate production capacity
of 76,400 kg by 2019. In addition to ACMPR licenses the Company has
an 82.5% investment in Future Harvest Development Ltd. a Fertilizer
and Nutrients manufacturer based in Kelowna, British
Columbia.
For more information, please visit www.invictus-md.com.
On Behalf of the Board,
Dan Kriznic
Chairman & CEO
Larry Heinzlmeir
Vice President, Marketing & Communications
604-537-8676
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 potential
production capacity of AB Labs, AB Ventures and Acreage Pharms’
production facilities, the granting of regulatory approval and
anticipated timing of AB Labs reaching full production capacity,
the granting of a sales license under the ACMPR to AB Ventures and
Acreage Pharms, Acreage Pharms’ receipt of a sales license and the
success and timing of Acreage Pharms’ expansion plans, expected
sales of inventory and the completion of the increase in the
Company’s ownership of AB Labs pursuant to the definitive agreement
(the “Transaction”) 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 the assumptions that AB Labs, AB Ventures and Acreage
Pharms will satisfy all conditions for, and receive, regulatory
approval to sell medical cannabis at their production facilities’
full capacity, AB Ventures will satisfy all conditions for and be
granted a license under the ACMPR and will receive a development
permit on the expected terms, AB Ventures is able to successfully
build a production facility, Acreage Pharms will satisfy all
conditions for and successfully obtain the anticipated sales
license and will successfully complete its expansion plans, the
anticipated sales of inventory will take place on the terms and
timing expected by management, all conditions to the closing of the
Transaction will be satisfied and the Transaction will complete on
the terms set out in the definitive agreement and that the
legalization of recreational use of cannabis in Canada will occur
as expected. 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 risk that AB Labs, AB
Ventures and Acreage Pharms will not receive regulatory approval to
sell medical cannabis at their production facilities for their full
production capacity or at all, that AB Labs, AB Ventures or Acreage
Pharms will not reach full production capacity, that AB Ventures
will not be granted a license under the ACMPR or will not receive a
development permit on the expected terms or at all, that AB
Ventures is not able to successfully build a production facility,
that Acreage Pharms is not able to obtain the anticipated sales
license when expected by management or at all or is not able to
successfully complete its expansion plans, that the anticipated
sales of inventory will not occur on the terms and timing expected
by management or at all, that the Transaction will not complete on
the expected terms or at all and that the legalization of
recreational use of cannabis in Canada will not occur at all or as
expected. 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. We seek safe
harbor.
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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