Invictus MD Announces Q2 Year 2017 Results

Posted on Categories: Uncategorized

Vancouver, BC, September 28, 2017 – INVICTUS MD STRATEGIES CORP. (“Invictus MD” or the “Company”) (TSXV: IMH; OTC: IVITF; FRA: 8IS1) is pleased to announce its financial results for the quarter ended July 31, 2017. The Company’s financial statements for the period are available under the Company’s profile on SEDAR at www.sedar.com. All amounts are expressed in Canadian dollars.

Operational Highlights

  • All of Invictus MD’s existing licensed production facilities under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”), its wholly owned subsidiary Acreage Pharms Ltd., located in West-Central Alberta, and its non-wholly owned affiliate AB Laboratories Inc., located near Hamilton, Ontario, are at full production.
  • The foundation for the 32,000 square-foot Phase 2 facility at Acreage Pharms Ltd. has been poured; the exterior is expected to be completed by the first part of November 2017 and the interior expected to be completed by the end of January 2018. The new facility will house nine, 1,600 square foot flowering rooms, maximizing available floor space and allowing for a fully controlled and optimized environment facilitating a harvest every two weeks.
  • Based on the improvements realized from Phase 1 plus the construction of the Phase 2 facility, Acreage Pharms will have a production run rate of approximately 5,000 kg of cannabis per annum commencing February 2018
  • The capital costs of constructing the Phase 2 facility continue to remain within the $6 million that was initially budgeted.
  • Initial harvests in the existing state-of-the-art production facility, using pesticide free growing systems and Good Production Practices, has resulted in high quality, non-irradiated medical cannabis. Currently Acreage Pharms has 80,000 grams of dried cannabis in its vault, ready for sale once it receives its sales license.
  • As of July 31, 2017 Invictus MD has $28 million cash in the treasury and approximately $30.75 million working capital.

Management commentary

“Invictus MD’s journey has been defined by its agility, innovation and disciplined execution of our business strategy, achieving progressive growth in its production facilities and shareholder value,” said Dan Kriznic, Chairman & CEO, of Invictus MD. The company’s balance sheet is very strong; it has minimal debt and working capital of $30.75 million. The approximate $28 million cash in the treasury has been reserved to expand its canopy footprint on its 250 acres of property and produce 15,000 kg per annum making it one of the top producers under the ACMPR. This production is needed to meet the significant demand for high quality, standardized, pesticide free product, not only for the existing medical market but also to accommodate the recreational market that will commence mid next year.”

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 wholly owned subsidiary Acreage Pharms and its non-wholly owned affiliate AB Laboratories Inc.; along with Fertilizer and Nutrients through its non-wholly owned subsidiary Future Harvest Development Ltd.

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: Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; and the plans for completion of the Offering, expected use of proceeds and business objectives. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or variations of such words and phrases or statements that certain actions, events or results “would”, “occur” or “be achieved”. Although Invictus has attempted to identify important factors that could affect Invictus and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended, including, without limitation, the risks and uncertainties related to the Offering not being completed in the event that the conditions precedent thereto are not satisfied. In making the forward-looking statements in this news release, Invictus has applied several material assumptions, including the assumptions that (1) the conditions precedent to completion of the Offering will be fulfilled so as to permit the Offering to be completed on or about June 1, 2017; (2) all necessary approvals will be obtained in a timely manner and on acceptable terms; and (3) general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information 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 Information. Except as required by law, Invictus does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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.

Ontario Heads in Smart Direction

Posted on Categories: Knowledge CentreTags: , , , ,

Ontario has issued its plans for how to implement cannabis legalization once it becomes national law, and we believe there is much to champion in the province’s approach towards building a smart regulatory framework that benefits consumers, businesses and government.

As owners of cannabis grow facilities in different provinces, we are eager to begin working with regulatory bodies as they begin drafting rules. We of course fully embrace rules that provide wide latitude to consumers and businesses, but we also endorse a framework that offers clear and sturdy structure to the ways in which we conduct business, shop and consume. Ontario’s efforts reflect a legacy of hard work on the part of provincial staff and quite a bit of regulatory savvy.

This has been a long time coming.

The decades-long demonization of cannabis, as we all know, was misguided and, frankly, absurd. This plant offers the world far too much — everything from avenues towards medical treatment to the same sort of social stimulus provided by lager and cabernet.

With legal cannabis in its fourth year in the United States (both Colorado and Washington rolled-out legal cannabis in 2014) we have much to examine, in terms of the plant’s social impacts. So far, cannabis sales have pumped millions of dollars into state tax coffers, jumpstarted the nation’s fastest-growing industry, offered thousands of jobs and filled warehouses and storefronts that formerly were vacant with commercial activity. Meanwhile, legalization has not led to boosted crime rates, escalating youth cannabis use (in fact, some studies suggest youth cannabis use in legal marijuana states is declining) or emerging health problems.

Studies are conflicting about whether legal cannabis has led to increased traffic accidents and fatalities. Either way, like all responsible cannabis advocates we believe cannabis use, like drinking alcohol, does not mix with driving. And thus we are pleased to see Ontario address potential issues surrounding cannabis and driving with well-considered regulations.

Our enthusiasm for Ontario’s cannabis regulatory framework does not suggest we believe there is not room for improvement. The process is just beginning, and we look forward to engaging with regulators and stakeholders about important issues ranging from the kinds of products available (including cannabis sold in edible form) to the distribution of legal cannabis stores throughout the province, workplace education, and the potential introduction of designated establishments where cannabis could legally be consumed; for now Ontario’s proposed rules forbid cannabis consumption outside of private residences.

As other provinces work to establish regulatory frameworks, we believe Ontario’s approach is an excellent starting point. We all have much work ahead, and we are eager to roll up our sleeves and get involved.

Invictus MD Provides an Update on Construction of Phase 2 at Acreage Pharms Ltd.

Posted on Categories: Investor Relations

Vancouver, BC, September 25, 2017 – INVICTUS MD STRATEGIES CORP. (“Invictus MD” or the “Company”) (TSXV: IMH; OTC: IVITF; FRA: 8IS1) is pleased to announce that construction of the Phase 2 development, a purpose built, multiple room production facility, is well underway at its wholly owned subsidiary, Acreage Pharms Ltd. (“Acreage Pharms”), a licensed producer under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”).

The foundation for the Phase 2 facility has been poured and the exterior is expected to be completed by the first part of November 2017. By the end of January 2018, the interior fit-out is expected.

While the facility was originally planned for 27,800 square feet, utilizing best practices learned from previous developments, the design was optimized to increase it to 32,000 square feet. The additional space will provide added capacity to accommodate administrative and production staff. The new facility will house nine, 1,600 square foot flowering rooms, maximizing available floor space and allowing for a fully controlled and optimized environment facilitating a harvest every two weeks and enabling the grow teams to complete all their procedures in the same day. Additionally, a second level 8 vault will be constructed giving Acreage Pharms the ability to store some $60 million of cannabis product at a given time.

Commencing February 2018 Acreage Pharms will have a production run rate of approximately 5,000 kgs of cannabis per annum based on the improvements realized from Phase 1 plus the construction of the Phase 2 facility. Given the location of Acreage Pharms in West-Central Alberta, electricity for the facility is being achieved at 2.8 cents per kW, which is one of the lowest rates in Canada. Additionally, there are no fees related to the disposal of water at the facility given it will be processed utilizing a septic tank and drain field method. These factors among others will allow Acreage Pharms to be very competitive while producing high-quality cannabis at one of the lowest cost per gram in the industry.

The capital costs of constructing the Phase 2 facility continue to remain within the $6 million that was initially budgeted.

Initial harvests in the existing state-of-the-art production facility, using pesticide free growing systems and Good Production Practices, has resulted in high quality, non-irradiated medical cannabis. Currently Acreage Pharms has 80,000 grams of dried cannabis in its vault, ready for sale once it receives its sales license.

“Invictus MD currently has $27 million in cash in the treasury. This cash has been earmarked for expanding square footage to meet the significant demand that is not only currently existing as part of the medical market but also to accommodate the recreational market that will commence mid next year. Invictus MD has enough cash in the treasury to expand its canopy footprint on its 250 acres of property and produce 15,000 kg’s per annum making it one of the top producers under the ACMPR.” said Dan Kriznic, Chairman & CEO, of Invictus MD. “The construction plans at Acreage Pharms has been our corporate strategy to take advantage of the current and future demand for a high quality standardized pesticide free product, in this emerging market.”

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 wholly owned subsidiary Acreage Pharms and its non-wholly owned affiliate AB Laboratories Inc.; along with Fertilizer and Nutrients through its non-wholly owned subsidiary Future Harvest Development Ltd.

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: Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; and the plans for completion of the Offering, expected use of proceeds and business objectives. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or variations of such words and phrases or statements that certain actions, events or results “would”, “occur” or “be achieved”. Although Invictus has attempted to identify important factors that could affect Invictus and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended, including, without limitation, the risks and uncertainties related to the Offering not being completed in the event that the conditions precedent thereto are not satisfied. In making the forward-looking statements in this news release, Invictus has applied several material assumptions, including the assumptions that (1) the conditions precedent to completion of the Offering will be fulfilled so as to permit the Offering to be completed on or about June 1, 2017; (2) all necessary approvals will be obtained in a timely manner and on acceptable terms; and (3) general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information 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 Information. Except as required by law, Invictus does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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.