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Highlights from Invictus MD's Corporate Update

July 13, 2017

 

 

Invictus MD Strategies Corp. (TSX-V:IMH)(OTC:IVITF) just came out with an update regarding the second harvest at AB Laboratories, their planned second cultivation facility and some management changes. Here's the highlights...

 

AB Laboratories completed its first harvest four weeks ago, with its second harvest happening this week. Going forward, the company expects a harvest to take place approximately once per month. The first two crops consisted of a variety of strains and THC/CBD concentrations. 

 

AB Ventures Inc. (a company that shares common ownership with AB Labs and was formed formed to establish a second licensed facility) is currently planning its phase 1 expansion. The phase 1 plans include two 21,000 square foot production facilities with multiple grow rooms. Farther down the road, AB Ventures is planning to construct additional facilities totaling 100,000 square feet. Building plans have been completed and the company has engaged a consultant to provide guidance in regards to the site plan approval process. 

 

Invictus MD has committed $5.5 million CAD in funding for AB Ventures. This capital will be used to fund the costs of the phase 1 buildout and the costs related to licensing approval under the ACMPR. Plans to construct the later phases are anticipated to be completed by 2019. 

 

Invitcus MD's current Executive Chairman, Dan Kriznic will be assuming responsibilities as Chairman and CEO for Invictus. Trevor Dixon will be taking over as President and CEO of Acreage Pharms to help facilitate further growth and cost savings at that site. 

 

Market Reaction

 

At the time of this writing, shares of Invictus MD Strategies haven't yet opened for trading in North America. In midday European trading, Invictus is up more than 7% on the Deutsche Borse. Yesterday, Invictus MD closed up 10.75% and 6.95% on the TSX Venture and OTC Markets, respectively. 

 

Conclusion

 

To learn more about Invictus MD Strategies Corp. check out the company's stock profile in The Daily Marijuana Observer's Canadian L.P. database. To view more marijuana stocks, check out their full marijuana stock database

 

Be sure to subscribe to The Daily Marijuana Observer's Canadian L.P. newsletter, so you never miss an important update from one of Canada's 51 LPs. 

 

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D/M/O

 

Disclaimer
 

Investing in nanocap, microcap, and small cap stocks is highly speculative. The publishers of DailyMarijuanaObserver.com are not registered as Investment Advisors or Broker-Dealers in any jurisdiction whatsoever. The information contained on DailyMarijuanaObserver.com (“this site”) has been prepared solely for informational purposes. Nothing on the site is an offer or solicitation to buy or sell securities. Investors should seek financial advice regarding the appropriateness of investing in any securities mentioned from their financial advisor.

 

 

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