Canopy Growth Corporation Enters Into An Agreement with Invictus MD’s AB Laboratories For Cannabis Sales
BUZ INVESTORS Canopy Growth Corporation INVICTUS MD STRATEGIES CORP. (“Invictus MD” or the “Company”) (TSXV: IMH; OTC: IVITF; FRA: 8IS) is pleased to announce that AB Laboratories Inc. (“AB Labs”), a Licensed Producer under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”), will provide their unique products in Canopy Growth Corporation’s (TSX:WEED) (“Canopy Growth”) curated CraftGrow line on Tweed Main Street’s online store, that brings high quality cannabis grown by a diverse set of producers. People want variety, they want different choices, and Tweed Main Street is an opportunity in the legal market where patients can see what is available through the convenience of an online store.
“AB Labs has received a number of direct inquiries from patients, which underscores the continuously growing demand. As a newer licensed producer with a market capitalization less than our peers, we are able to utilize Canopy Growth’s Tweed Main Street, giving us immediate access to the largest customer base in the rapidly expanding medical cannabis market.” said Dan Kriznic, Chairman and CEO of Invictus MD. “Our collaboration with Canopy Growth demonstrates our commitment to making the sector strong and helping to expose medical cannabis patients visiting Tweed Main Street, to another high quality, unique brand.”
READ Invictus MD's Future Harvest Achieves Increase In Gross Margin Benefiting From Its Focus On The Burgeoning Global Cannabis Sector
With Canada on the global stage as it moves closer to making history by being the first G-7 nation to legalize and regulate access to cannabis for the recreational market and the expected demand that will result, Invictus MD will continue to focus on building out AB Labs and AB Ventures Inc.’s (“AB Ventures”) production capacity in Ontario and successfully acquiring Acreage Pharms Ltd.’s (“Acreage Pharms”) production facility in Alberta. After the successful development and acquisition of these facilities, Invictus MD anticipates that it will have the capacity to supply more than 50,000 kg of cannabis by 2020. This creates an attractive value proposition in the burgeoning cannabis market.
AB Labs, which maintains a 16,000 square foot facility located near Hamilton, Ontario, has successfully conducted test crops and is currently operating at half capacity, with full production capacity scheduled by the end of May 2017. AB Ventures Inc.’s (“AB Ventures”), a company formed to develop a second licensed expansion facility through it’s common ownership with AB Labs, is expected to close a 100-acre acquisition on May 1, 2017, and if licensed under the ACMPR, construction of production facilities totaling 250,000 square feet will begin and be used for future cannabis cultivation. With licensing in place as expected, production at AB Ventures is anticipated to start as early as December 2017.
Considering the magnitude of AB Ventures’ land acquisition and future production facilities, and assuming AB Ventures obtains a license to produce the quantity forecasted, Invictus MD anticipates the combined production capacity of both AB Labs and AB Ventures to exceed 25,000 kilograms in 2020.
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 including an investment in a fully licensed facility, AB Laboratories Inc. as well as the option to now acquire 100% of Acreage Pharms Ltd.; Fertilizer and Nutrients through Future Harvest Development Ltd.; and Cannabis Data and Delivery, with its wholly owned subsidiary Poda Technologies Ltd
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