VANCOUVER, July 9, 2018 -- /D.M.O. Newswire/ -- INVICTUS MD STRATEGIES CORP. ("Invictus" or the "Company") (TSXV:GENE) (OTC:IVITF) (FRA:8IS1) announced today the purchase of an additional acre of neighboring land adjacent to AB Laboratories Inc. ("AB Labs") property, dedicated to future expansion opportunities at the facility. The acquisition represents significant progress in AB Labs' growth strategy which involves building a strong production profile in state-of-the-art cultivation spaces.
Construction of the Phase 2 expansion at AB Labs remains on-schedule. Phase 2 facility will add 40,000 square feet of operating space, while increasing total cultivation capacity to 56,000 square feet. Currently, AB Labs' 16,000 square foot Phase 1 facility is operating at full capacity, having completed its second transfer of 63 kg of dried cannabis to Canopy Growth Corporation's (TSX:WEED) Tweed's elite CraftGrow line.
AB Labs is also focused on expanding its strain profile to meet Invictus' dynamic and muscular approach to retail sales ahead of the upcoming recreational marketplace. AB Labs' latest selection, originating from a partner in Holland, offers a mix of strains including:
"Expanding both our cultivation space and strain selection is key to driving growth in a sector that will see increasing demand from both the public and private sector," said Invictus CEO Dan Kriznic. "By constructing state-of-the-art production and processing facilities, our team of award-winning horticulturalists can continue to innovate and deliver high-quality products that consumers can trust."
For more information, please visit www.invictus-md.com.
On Behalf of the Board,
Chairman and CEO
Vice President, Public Relations and Regulatory Affairs
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 262,000 and 846,000 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:
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 expected use of the proceeds from the Company's option and warrant exercises 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" or "would" 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 there will be no material change in the Company's business or market conditions that will require the Company to alter its current anticipated use of the proceeds from the option and warrant exercises that OptionCo, AB Labs, AB Ventures and Acreage Pharms will be successful in reaching their potential production capacity, OptionCo, AB Labs, AB Ventures and Acreage Pharms' production facilities will be completed as anticipated, regulatory approval will be granted as anticipated, OptionCo, AB Labs, AB Ventures and Acreage Pharms will reach full production capacity on the 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, there will be a material change in the Company's business or market conditions that will require the Company to alter its current anticipated use of the proceeds from the option and warrant exercises OptionCo, AB Labs, AB Ventures and Acreage Pharms will not be successful in reaching its potential production capacity, OptionCo, AB Labs, 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, AB Labs, AB Ventures and Acreage Pharms reaching full production capacity will be delayed. 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.
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.