VANCOUVER, Nov. 27, 2017 /CNW/ - INVICTUS MD STRATEGIES
CORP. ("Invictus MD" or the "Company") (TSXV: IMH; OTC: IVITF; FRA:
8IS1), through its interests in two Access to Cannabis for
Medical Purposes Regulations ("ACMPR") license holders, its
wholly-owned subsidiary Acreage Pharms Ltd. ("Acreage
Pharms") and its one-third interest in AB Laboratories Inc.
("AB Labs"), continues to execute plans that will achieve
production capacity of 6,000 kg commencing January 2018, several months before Canada expects cannabis to become
recreationally legal. Total current annual production capacity at
both locations is approximately 1,500 kg.
As announced on October 27, 2017,
Health Canada had removed previously disclosed production capacity
restrictions at both Acreage Pharms and AB Labs.
Update on Sales Approval
Both Acreage Pharms and AB Labs have submitted formal
requests to Health Canada to amend its License to allow for the
sale and distribution of medical cannabis. The issuance of the
Amendment is subject to, among other things, a regulatory
inspection of Acreage Pharms' and AB Labs' production
facilities and cannot be guaranteed by the Company. However, the
Company is confident that both facilities are compliant with all
necessary requirements, that they will pass the required
inspection, and that the Amendment will be issued in due course.
The Pre-Sales License Inspection is the last step prior to the
issuance of a Sales License under the ACMPR.
Update on Production
Acreage Pharms and AB Labs facility are currently at full
production with a total combined capacity of approximately 1,500 kg
annually.
Acreage Pharms recently completed its 6th harvest, and the yield
increased by 30% over the prior harvest from the same room as a
result of improved plant spacing and activation of the nutrient
delivery system. The facility continues to grow completely
pesticide free and the purpose built facility is out performing
management's expectations for Good Production Practices and over
all production values.
Update on Construction
Acreage Pharms is on schedule to complete its 32,000 square foot
(phase 2) expansion by January 2018.
Once completed total production capacity of Acreage Pharms is
expected to reach 5,000 kg annually.
Management commentary
"I am extremely pleased that our operational activities are
unfolding according to plan as well as our aggressive development
strategy aimed at creating Canada's Cannabis Company," said Dan Kriznic,
Chairman & CEO, of Invictus MD. "The issuance of the sales and
distribution Amendment to Acreage Pharms and AB Labs cultivation
license under the ACMPR will be a significant value catalyst for
our shareholders. Additionally I can report that Invictus MD's
balance sheet remains very strong; it has minimal debt and the
approximate $26 million cash in the
treasury has been earmarked for expanding its canopy footprint on
its 250 acres of property with a goal to produce 15,000 kg per
annum, which would make Invictus MD a top producer under the
ACMPR. Our production will satisfy the significant demand in
Canada for high quality,
standardized, pesticide free product for the current medical
cannabis market and the recreational market that will begin mid
2018."
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 33.3% investment
AB Laboratories Inc., located near Hamilton, Ontario. Combined the two licenses
expect to have run-rate production capacity of 6,000 kg commencing
January 2018. Invictus MD is currently fully funded to expand
operations at its two ACMPR licensees to approximately 150,000 sq.
ft., which would net approximately 20,000 kg per annum. 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, 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 Labs, AB
Ventures and Acreage Pharms, the success and timing of AB Labs'
release of additional lots; and the success and timing of Acreage
Pharms' expansion plans, 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 AB Labs, AB Ventures and Acreage Pharms
will receive regulatory approval to sell medical cannabis at their
production facilities' full capacity, AB Ventures will be granted a
license under the ACMPR, AB Ventures is able to successfully build
a production facility and Acreage Pharms is able to successfully
complete its expansion plans. 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 or
reach full production capacity, AB Ventures will not be granted a
license under the ACMPR, AB Ventures is not able to successfully
build a production facility; and Acreage Pharms is not able to
successfully complete its expansion plans. 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.
SOURCE Invictus MD Strategies