Invictus MD Strategies (TSXV:IMH; OTC: IVITF; FRA: 8IS1) (“Invictus MD” or the “Company”) is pleased to reaffirm its increased target capacity to 76,000 kg based on expanding facilities in 2019 to approximately 520,000 square feet outlined on January 16, 2018. Dan Kriznic, Invictus MD Chairman and CEO stated, “The Company has achieved a number of important achievements, 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 AB Laboratories Inc.’s sales license and the progress being made on the Phase 2 production facility at Acreage Pharms Ltd.’s, key constructions milestones in the drive towards that intent are being achieved. This dramatically advances our timeline for increasing our annual run-rate production capacity at our facilities to 26,000 kg in 2018 in time for the adult-use market. Invictus MD’s current cash balance is approximately $32 million.
The Company also reports that it has granted 1,100,000 incentive stock options to directors and consultants of the Company. The stock options are exercisable for a period of five years at an exercise price of $1.84 per share. The options were granted under, and are subject to the terms and conditions of the Company’s Stock Option Plan.
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% investment in AB Laboratories Inc., located near Hamilton, Ontario which has both its cultivation and sales license under ACMPR. Combined the two licenses and an expected third license under AB Ventures have an approximate annual run-rate production capacity of 76,000 kg by 2019. 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,
Chairman & CEO
Vice President, Marketing & Communications
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 Ventures and Acreage Pharms, Acreage Pharms’ receipt of a sales license and the success and timing of Acreage Pharms’ expansion plans, expected sales of inventory and the completion of the transaction contemplated by the LOI and the resulting increase in the Company’s ownership interest in AB Labs 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 that AB Labs, AB Ventures and Acreage Pharms will satisfy all conditions for, and receive, regulatory approval to sell medical cannabis at their production facilities’ full capacity, AB Ventures will satisfy all conditions for and be granted a license under the ACMPR, AB Ventures is able to successfully build a production facility, Acreage Pharms will satisfy all conditions for and successfully obtain the anticipated sales license and will successfully complete its expansion plans, the anticipated sales of inventory will take place on the terms and timing expected by management and all conditions to the transaction contemplated by the LOI will be satisfied and the transaction will complete on the expected terms. 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 for their full production capacity or at all, that AB Labs, AB Ventures or Acreage Pharms will not reach full production capacity, that AB Ventures will not be granted a license under the ACMPR, that AB Ventures is not able to successfully build a production facility, that Acreage Pharms is not able to obtain the anticipated sales license when expected by management or at all or is not able to successfully complete its expansion plans, that the anticipated sales of inventory will not occur on the terms and timing expected by management or at all and that the transaction contemplated by the LOI will not complete on the expected terms or at all. 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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