Vancouver, BC
-- June 19, 2018 -- InvestorsHub NewsWire -- INVICTUS MD STRATEGIES
CORP. ("Invictus" or the "Company") (TSXV: GENE; OTC: IVITF; FRA: 8IS1)
is pleased to announce it has signed
a non-binding Letter of Intent (“LOI”) to sell dried cannabis to a
German importer and distributor of medical cannabis (the
“Importer”). The Company will initially commit to selling 1,000 kgs
of dried cannabis flower per annum at a price of $6.50 per gram.
The volumes and respective prices of dried cannabis flower for the
second and consecutive years will be defined in a Definitive
Offtake Agreement (the “Offtake
Agreement”).
The Importer, whose
name will remain undisclosed until execution of the Offtake
Agreement, combines a highly competitive business model with a vast
distribution network of 20,000 pharmacies and a clear focus on
product marketing and professional education. The Importer’s
experienced management team previously led an international joint
venture successfully to the final stage of the German tender for
domestic cannabis production and unites the expertise of medical
professionals, experts in pharmaceutical regulatory law as well as
experienced entrepreneurs. This unique combination will serve to
ensure the secure and reliable import and distribution of Invictus'
products to the exponentially growing market in Germany and
Europe.
Prior to any shipment of dried cannabis flower
to the German market Invictus must first obtain an export permit
from Health Canada as well as a Good Manufacturing Practice ("GMP")
certification, in accordance with the rules governing medicinal
products in the European Union. The EU-GMP certification is a
requirement to distribute medical cannabis to Germany and across
the European Union. The Importer must also obtain an import
permit.
Independent from the Offtake Agreement, the
Company and the Importer will also explore obtaining a cultivation
license in Germany.
“We continue to explore opportunities for sales
and distribution beyond our nation’s borders to countries, like
Germany, that welcome legalized medical cannabis products,” said
Dan Kriznic, Founder and CEO. “These new relationships will
diversify our operations and further allow us to become Canada’s
Cannabis Company, and beyond.”
About Invictus
Invictus owns and operates two cannabis
production facilities, both with sales licenses, under the ACMPR in
Canada, with the vision of producing a variety of high quality and
low-cost cannabis products to the global market, as regulations
permit. The Company’s wholly owned subsidiary, Acreage Pharms Ltd.
(“Acreage Pharms”), is located in West-Central
Alberta. The Company’s 50% owned AB Laboratories Inc. (“AB
Labs”), is located in Hamilton, Ontario. AB Ventures Inc.
(“AB Ventures”) owns 100 acres of land near
Hamilton, Ontario, to be used for future cannabis cultivation.
Recently, the Company announced that it has entered into a binding
letter of intent for an option to acquire an applicant (the
“OptionCo”) under the ACMPR. Combined, the Company
expects to have approximately 332,000 and 822,000 square feet of
cannabis production capacity by the end of 2018 and 2019,
respectively.
Gene Simmons, music legend and media mogul, conveys the vision of
Invictus as the Chief Evangelist Officer.
The Company’s wholly owned subsidiary, Poda
Technologies Ltd. (“Poda”), has developed
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 or
residue.
Finally, the Company’s 82.5% owned Future
Harvest Development Ltd. (“Future Harvest”) is a
high-quality Fertilizer and Nutrients manufacturer, based in
Kelowna, British Columbia. Future Harvest 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 potential acquisition of OptionCo, and the potential
production capacity of OptionCo, AB Labs, AB Ventures and Acreage
Pharms, 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 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, 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, and OptionCo and Acreage Pharms will be
granted its sales license under the ACMPR on the terms and timeline
anticipated by the Company,. 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 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, and licenses or approvals being granted on terms
or timelines that are materially worse than expected by the
Company. 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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