Invictus MD Strengthens Management Team With Appointment of New CFO

Posted on Categories: Investor Relations

Vancouver, BC, November 6, 2017 – INVICTUS MD STRATEGIES CORP. (“Invictus MD” or the “Company”) (TSXV: IMH; OTC: IVITF; FRA: 8IS1), is pleased to announce the appointment of Dylan Easterbrook as Chief Financial Officer.

Mr. Easterbrook is a seasoned accounting and financial professional, who most recently was controller of a publicly traded global fibre optic connectivity solution provider. Prior to that role he was with Ernst & Young, one of the largest professional services firms in the world and one of the Big Four accounting firms, where he led audit engagements for both public and privately held companies from a variety of industries, including the emerging markets.

Dylan is a Canadian Chartered Professional Accountant (CPA, CA), and also holds a Bachelor of Science in Life Sciences degree from the University of British Columbia.

The company wishes to thank Mr. Herrick Lau for his contributions to Invictus MD and commitment in assisting the Company with its goal to become Canada’s Cannabis Company.

Further, the Company has issued 150,000 incentive stock options (the “Options”) to Mr. Easterbrook. The Options, of which one third will vest in three months, one third in nine months and one third in fifteen months, are exercisable for a period of five years at an exercise price of $1.19 per share. The Options were granted under and are subject to the terms and conditions of the Company’s Stock Option Plan.

“We are excited about Dylan’s appointment as he brings solid experience and capabilities that match our needs as we continue to develop,” said Dan Kriznic, Chairman & CEO, of Invictus MD. “The timing is ideal as we continue to execute on an aggressive development strategy aimed at creating Canada’s Cannabis Company. Our Company’s balance sheet is very strong; it has minimal debt, and the approximate $26 million cash in the treasury has been reserved to expand the Company’s canopy footprint on its 250 acres of property, making it one of the top producers under the Access to Cannabis for Medical Purposes Regulations (“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 2018.

“Invictus MD is seen as a real leader within this remarkably young and fast-growing cannabis sector,” added Mr. Easterbrook. “I am excited about my new role and look forward to contributing and helping Invictus MD reach the next level in its unprecedented journey. “

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.

 

Invictus MD prepares for legalization with expected cannabis ready production of 6,000 kg

Posted on Categories: Investor Relations

Vancouver, BC, October 27, 2017 – 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”), expects to have production capacity of 6,000 kg commencing January 2018, several months before Canada expects cannabis to become recreationally legal. Total current production capacity at both locations is approximately 1,500 kg.

License Capacity and Term

Health Canada has removed the previously disclosed production capacity restrictions at both Acreage Pharms and AB Labs. In addition, AB Labs received an extension of its existing ACMPR license for a period of two years and Acreage Pharms’ ACMPR license was extended through to March 2020.

Update on Sales Approval

AB Labs has submitted a request to Health Canada to amend its license to allow for the sale and distribution of medical cannabis (the “Amendment”). Health Canada’s approval of the Amendment is subject to, among other things, a regulatory inspection of AB Labs’ production facility and cannot be guaranteed by the Company. However, management of the Company is confident that AB Labs is compliant with all necessary requirements, that AB Labs’ facility will pass the required inspection and that Health Canada will approve the Amendment and grant AB Labs a sales license in due course.

Acreage Pharms has submitted additional samples to three independent labs licensed by Health Canada and management is confident Acreage Pharms will receive a sales license once the quality assurance team has analyzed the results. This will be a significant milestone for Acreage Pharms and the Company.

Update on Production

AB Labs plans to release over 6 Lots consisting in excess of 75 kg over the next one to three months. The facility is currently at full production and development plans have been submitted for an expansion at the AB Ventures Ltd. 100 acre site in Hamilton, Ontario. The current facility at AB Labs can produce 1,000 kg at full capacity.

Acreage Pharms’ existing facility is also currently at full production and additionally has converted a vegetative room into a flowering room, thereby providing additional production capacity. Total capacity is expected to reach 5,000 kg by January 2018 when Acreage Pharms completes its current 32,000 square foot expansion. Acreage Pharms phase 2 expansion is currently underway with the completion of the concrete foundation and expectation the tilt up slab concrete walls will be installed by end of November.

Management commentary

Dan Kriznic, Chairman & CEO, of Invictus MD, commented “I am very pleased to report that our operational activities are unfolding according to our business plan, and that our strategic efforts to build Canada’s Cannabis Company are coming together. The issuing of the sales and distribution Amendment to Acreage Pharms and AB Labs cultivation license under the ACMPR would constitute a significant value catalyst for our shareholders. I would further comment that the company’s balance sheet remains very strong; it has minimal debt and the approximate $26 million cash in the treasury has been reserved to expand its canopy footprint on its 250 acres of property, 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 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, Acreage Pharms Ltd. and AB Laboratories Inc.; along with Fertilizer and Nutrients through 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: 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.

Invictus MD Updates Shareholders on Cannabis Legalization Process

Posted on Categories: Investor Relations

Vancouver, BC, October 17, 2017 – INVICTUS MD STRATEGIES CORP. (“Invictus MD” or the “Company”) (TSXV: IMH; OTC: IVITF; FRA: 8IS1) Today, Invictus MD updated shareholders that it is taking steps to monitor the government policy development process in advance of the legalization of recreational cannabis that is expected in July 2018.

“There are a number of authorities across the country that are developing policies and regulations to support the successful legalization of recreational cannabis. Invictus MD is monitoring these jurisdictions and will engage officials when necessary,” stated Dan Kriznic, Chairman and CEO of Invictus MD.

Invictus MD in Ontario

Invictus MD has been closely monitoring the recreational cannabis framework released by the Ontario government. Some highlights of Ontario’s proposed cannabis framework are:

  • Ontario will mirror the Liquor Control Board of Ontario model for retail sales
  • Purchase and consumption age will be 19 years old
  • Cannabis will not be sold alongside alcohol or in the same location
  • Current private dispensaries are illegal and will be shut down
  • Recreational cannabis use will be permitted in private residences only for now
  • Ontario will operate a scale up approach to storefront retail locations with 40 stores initially, 80 stores by the end of the first year and 120 stores by 2020
  • Online access will be available at the outset
  • Retail locations will resemble the early days of LCBO locations where product is not displayed and kept behind the counter for ordering
  • The new entity will only purchase from federally licensed producers within Canada
  • The government is not speculating on supply and possible increases in demand at the moment
  • The government is only permitting the smoking and ‘vaping’ of cannabis, no edibles at this time

Invictus MD in Alberta

Representatives from Invictus MD attended the Alberta Cannabis Secretariat’s Framework session in Edmonton last week where we were able to monitor stakeholder reaction to Alberta’s framework, including:

  • Oversight and enforcement of regulations will be carried out by the Alberta Gaming and Liquor Commission
  • The government plans to act as the wholesaler and clearinghouse for all cannabis sales through the AGLC using a “postage stamp” model for wholesaling the product – the wholesale price would be identical throughout the province.
  • The government wishes to ensure that both large and small producers can compete to supply the market with the AGLC by acting as a single buyer.
  • There has not been a decision as to whether the sale of cannabis should be made by government-owned stores, or by private retailers.
  • Purchase and consumption age will be 18 years old and will initially only be available in physical stores, not through online sales.
  • Use of the product will not be permitted at retail locations and are not planning to permit lounges and cafes.

Legislative Update on Bill C-45 (Federal Cannabis Act)

Currently, Bill C-45, an Act Respecting Cannabis and to Amend the Controlled Drugs and Substances Act, the Criminal Code and other Acts, passed second reading in June 2017 and was referred to the Standing Committee on Health where they are reporting on the Bill with amendments.

IR Agreement

The Company has entered into an investor relation’s agreement (the “IR Agreement”) with Gold Standard Media LLC, a limited liability company existing under the laws of the State of Texas with an office at 1102 S. Austin Ave, #110-283, Georgetown, Texas, USA. The term of the IR Agreement is for a three-month public awareness campaign. In connection with the IR Agreement, the Company will be compensated one hundred and fifty thousand dollars.

Options Granted

The Company also reports that it has granted 1,535,000 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 $1.34 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 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

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.

Invictus MD Announces Q2 Year 2017 Results

Posted on Categories: Investor Relations

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.