Invictus MD's Future Harvest Achieves 63% Increase In Gross Margin For The Past 7 Months Ending January 31, 2017 Compared To Same Period For The Prior Year
VANCOUVER, BC – February 15, 2017 – INVICTUS MD STRATEGIES CORP. (“Invictus MD” or the “Company”) (CSE: IMH; OTC: IVITF; FRA: 8IS) is pleased to report that Future Harvest Development Ltd. (“Future Harvest”), of which Invictus MD currently owns 82.5%, has generated $1.423 million in revenue for the 7 months ending January 31, 2017, with a gross margin of $727,000, representing a 51% gross margin compared to the same period in the prior year gross margin of $446,000, representing a 33% margin.
Chris Pearson, Chief Revenue Officer of Future Harvest commented, “as the demand for cannabis for medical purposes under the ACMPR dramatically rises, Future Harvest is capturing that growth opportunity and we’re becoming a part of the cannabis growth story by providing specialty fertilizer and supplies for the hydroponic cultivation sector. Through several university research partnerships, we are also developing and manufacturing leading edge nutrient formulations tailored to the specific requirements of our clients.” Pearson further stated “We took full advantage of the industry’s growing demands and re-invested approximately $300,000 in a fully automated bottling line capable of handling bottle sizes of 125ml up to 4 liters, at a rate of 40 liters per minute. This addition increases our overall production efficiency by 400% and allows us to aggressively pursue the emerging market opportunities.”
“Future Harvest’s research team is ready to launch several products in Q1 2017. Utilizing our state-of-the-art pill press (patent pending), we are now able to produce water-soluble nutrient tablets for the cannabis and other sectors, thereby eliminating the need for water and salt and greatly reducing packaging and transportation costs for large-scale commercial applications. This demonstrates our commitment to the development of environmentally friendly products. This is in addition to the new Plantlife Garden & Greens product line for distribution through our large sales channels. These blue-sky initiatives position Future Harvest for highly profitable cannabis-related business opportunities. As we continue to innovate, especially within the cannabis sector, we are focused on building our brand awareness and increasing distribution volumes,” said Pearson.
Dan Kriznic, Chairman and CEO of Invictus MD commented, “Future Harvest’s recent sales success is a testament to our focused execution. Future Harvest has worked diligently over the last several years to develop and nurture their sales channels, especially in the cannabis sector. It is our firm belief that our strategy is well-placed and underpinned with innovative products and services. We remain confident in our ability to continue delivering strong results this year, and over the long term. Furthermore, we remain committed to investing in extending our product line and taking full advantage of the opportunities that the cannabis sector provides.”
About Future Harvest Development Ltd.
For over twenty years, Future Harvest has brought fertilizers, metering and monitoring equipment and other supplies for hydroponics, the indoor method of growing crops favored by the burgeoning cannabis industry,
Future Harvest’s product lines are available through leading distributors and retailers across North America, the United Kingdom and Europe and include Nutradip, Plantlife Products and Future Harvest Plastics.
About Invictus MD Strategies Corp.
Invictus MD Strategies Corp. is focused on three main verticals within the burgeoning Canadian cannabis sector: Licensed Producers under the ACMPR; Fertilizer and Nutrients through Future Harvest Development Ltd.; and Cannabis Data and Delivery, with its wholly owned subsidiary Poda Technologies Ltd.
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 timing and completion of the proposed spin-out of Future Harvest, the forecasted revenue for Future Harvest, and projections regarding the potential future value of the cannabis industry 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 the proposed spin-out of Future Harvest will occur by Spring 2016, that the Company will obtain all requisite approvals of the spin-out transaction, that current Future Harvest sales levels will be sustained and result in the generation of approximately $6-7 million in revenue for the fiscal year ending June 30, 2016, and they 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 the proposed spin-out may not occur by Spring 2016 as planned; the timing and receipt requisite approvals; unexpected operational difficulties (including failure of equipment, unavailability of material, industrial disturbances or job action) as well as other unanticipated events that may prevent Future Harvest from reaching gross sales targets; and failed projections notwithstanding solid research efforts. 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. To the extent that the anticipated achievement of Future Harvest’s gross sales target may constitute a financial outlook within the meaning of applicable Canadian securities laws, such information has been approved by management of the Company and is provided for the purposes of providing information relating to management and Future Harvest’s current expectations and plans. 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 outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbour.
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