Vancouver, BC -- May 22, 2018 -- InvestorsHub
NewsWire -- INVICTUS MD STRATEGIES CORP. ("Invictus" or the
"Company") (TSXV: GENE; OTC: IVITF; FRA: 8IS1) is pleased to
announce that Acreage Pharms Ltd. (“Acreage
Pharms”) has received its sales license from Health Canada
pursuant to the Access to Cannabis for Medical Purposes Regulations
(ACMPR) effective May 18, 2018.
Dan Kriznic,
Invictus Chairman and CEO commented, “We are thrilled to have
obtained our sales license from Health Canada. This is the
crowning milestone in our licensing journey for Invictus, as we
march towards fulfilling capacity goals during this historic and
important year for Canada’s cannabis industry. We started this
company in 2014 with the intention of becoming Canada’s Cannabis
Company. With the granting of Acreage Pharms’ sales license and the
completion of the Phase 2 structure at Acreage Pharms, two key
milestones in the drive towards that intent now have been achieved.
This dramatically advances our timeline for increasing our annual
run-rate production capacity at our current 39,600 square foot
facilities and construction plan for the 80,000 square foot Phase 3
to be completed by September 2018 in time for the adult-use
market.”
The awarding
of the license coincides with the launch of Invictus' extensive
retail development plan, an ongoing effort that hinges on the
ownership and opening of at least 20 dispensaries in British
Columbia, Alberta and Saskatchewan; supply agreements with
governmental bodies and licensed producers; and securing
large-scale product calls and supply agreements, as well as smaller
"craft" agreements.
With an
emphasis on a refined consumer experience — Invictus stores will
offer shopping experiences evocative of Canada's natural beauty,
with natural woods, open floor plans, tasteful lighting, and
iPad-wielding sales associates deeply trained in cannabis —Invictus
dispensaries will stand apart. Acreage Pharms', which cultivates
and manufactures high-quality cannabis products, is an essential
part of the retail strategy.
Acreage
Pharms anchors 150 acres of convertible land in Alberta, and is
poised to support the cannabis industry and its community with a
safe product that is well-researched, lab-tested and distributed
through regulated channels. Increasing Invictus’ canopy footprint
has been a sharp focus of the company, as beginning in the middle
of 2018 Canada’s demand rises for high-quality, pesticide-free
product for both the current medical cannabis market and the adult
market once legalized.
"This is the
crowning jewel that we all have been working towards since 2013,
and wonderful news," said Acreage Pharms founder and CEO Tervor
Dixon. "Our team has worked tirelessly, and with immense savvy and
commitment to detail, to make this happen. Without all of their
hard work, day after day, this crowning achievement would remain
merely a dream, rather than a reality. Our seed-to-sale model is
now complete in the medical arena, and our client service team is
ready to serve customers in the recreational retail sector,
including dispensaries owned by Acreage Pharms' corporate parent,
Invictus. With so many medical patients signing-up for care every
month, more and more now turn to Acreage Pharms client service team
for assistance in securing our high-quality cannabis. We all look
forward to serving many more consumers in months and years to
come."
Added
Kriznic: “Regulators and lawmakers, community advocates and the
business community across Canada have been working hard to build
the sturdiest, safest and most sensible legal cannabis industry in
the world. Invictus is honored to take part in these historic
efforts.”
About
Invictus
Invictus
owns and operates two cannabis production sites under the ACMPR in
Canada with the vision of producing a variety of high quality and
low cost cannabis products and strains to the global market place
as regulations permit. The Company’s wholly owned subsidiary
Acreage Pharms is located in West-Central Alberta. Invictus also
owns 50% of AB Laboratories Inc. (“AB Labs”)
located in Hamilton, Ontario. During the first quarter of 2018 AB
Labs submitted a secondary license to Health Canada for a nearby
property on 100 acres under the name AB Ventures Inc. (“AB
Ventures”).
Recently the
Company announced that it has entered into a binding letter of
intent for an option to acquire 100% of the outstanding shares of
an applicant (the “OptionCo”) the
ACMPR.
Combined, the licensed producers owned
by Invictus expect to have approximately 327,000 square feet of
cannabis production capacity by the end of 2018 and 817,000 square
feet of cannabis production capacity by the end of 2019.
Gene
Simmons, music legend and media mogul, conveys the vision of
Invictus as the Chief Evangelist Officer.
Invictus
owns 100% of Poda and its related intellectual property, the world’s
first zero-cleaning vaporizer system. Poda’s fully biodegradable
pods are self-contained, and do not contaminate the vaporizer with
odor, flavor and residue.
In addition to the ACMPR licenses, the
Company has an 82.5% investment in Future Harvest Development Ltd.
a high quality Fertilizer and Nutrients manufacturer based in
Kelowna, British Columbia that has been in operation for over 20
years under the brand Plant Life Products and Holland
Secret.
Invictus’ Canadian Production
Footprint:
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 development of additional cannabis
strains, the potential acquisition of OptionCo, the potential
production capacity of OptionCo, AB Labs, AB Ventures and Acreage
Pharms, the completion of OptionCo, AB Ventures and Acreage Pharms’
production facilities, the granting of regulatory approval and
anticipated timing of OptionCo, AB Labs reaching full production
capacity, the granting of OptionCo‘s first and second license, AB
Labs secondary license, the granting of a sales license under the
ACMPR to OptionCo and Acreage Pharms, expected sales of inventory
and the legalization of the recreational use of marijuana in Canada
in 2018 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 be
successful in developing additional cannabis strains, that the
Company will be successful in exercising its option to acquire
OptionCo including obtaining TSX Venture Exchange approval of the
acquisition, that OptionCo and AB Labs will be successful in
reaching their potential production capacity on the timeline
expected by the Company, OptionCo, AB Ventures and Acreage Pharms’
production facilities will be completed as anticipated, regulatory
approval will be granted as anticipated, OptionCo and AB Labs will
reach full production capacity on the timeline anticipated by the
Company, OptionCo will be granted its first and second licenses, AB
Labs will be granted its secondary license on the terms and
timeline anticipated by the Company, no unforeseen construction
delays will be experienced, OptionCo and Acreage Pharms will be
granted its sales license under the ACMPR on the terms and timeline
anticipated by the Company, expected sales of inventory will be met
and the legalization of the recreational use of marijuana 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, Acreage Pharms
will not be successful in developing additional cannabis strains
or, if developed, such strains will not have the benefits
anticipated by the Company, the Company will not complete the
acquisition of OptionCo, OptionCo and AB Labs will not be
successful in reaching its potential production capacity, OptionCo,
AB Ventures and Acreage Pharms’ production facilities will not be
completed as anticipated, construction delays, regulatory approval
will not be granted as anticipated and therefore, the anticipated
timing of OptionCo and AB Labs reaching full production capacity
will be delayed, AB Labs will not be granted their secondary
license, OptionCo will not be granted its first and second
licenses and OptionCo and Acreage Pharms will not be granted its
sales license under the ACMPR, licenses or approvals being granted
on terms or timelines that are materially worse than expected by
the Company, expected sales of inventory will not be met and the
legalization of the recreational use of marijuana 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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