Invictus MD Announces Completion of its Commitment to Acquire 33.33% of Licensed Producer AB Laboratories Inc.

Invictus MD’s Acreage Pharms Ltd. Receives Development Permit for Phase 2 and Provides Update

Invictus MD’s Acreage Pharms Ltd. Receives Development Permit for Phase 2 and Provides Update

 

FOREX INVESSTORS  PRESS RELEASE  Acreage Pharms Ltd   INVICTUS MD STRATEGIES CORP. (“Invictus MD” or the “Company”) (TSXV: IMH; OTC: IVITF; FRA: 8IS) is pleased to announce that its licensed production facility under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”), Acreage Pharms Ltd. (“Acreage Pharms”) located near Edson, Alberta, utilizing a multi-room indoor perpetual growing methodology, will begin its first harvest the first week of August, with the second harvest occurring the following week.  The company anticipates a harvest to take place approximately monthly going forward.

Invictus MD is further pleased to announce that Acreage Pharms has received its development permit for Phase 2 and has broken ground initiating construction on its 27,800 square foot purpose built, multiple room production facility. All contractors and suppliers necessary for the project have been scheduled. Invictus MD has committed to investing $6.0 million, which will be used to fund the costs of constructing the production facility.

“Following our successful harvest at the AB Laboratories production facility as announced earlier, and by securing the development permit for our Alberta production facility, with $30 million cash available and the majority earmarked for building production capacity, Invictus MD is prepared for an exciting year of growth,” said Dan Kriznic, Executive Chairman and CEO, Invictus MD. “Led by one of the industry’s most experienced teams, we are strongly focused on building our shareholder value. With 250 acres of cultivation space that stretches from Alberta to Ontario, allowing for purpose built production facilities rather than retrofitting existing buildings, our large land package allows for building cultivation facilities as demand increases and we will continue the disciplined but agile execution of our business strategy, and further establishing our leadership position as Canada’s cannabis company” added Kriznic.



Acreage Pharms Ltd

Invictus MD also announced that Mr Paul Sparkes and Mr. Josef W. Hocher have been appointed to the Company’s Board of Directors.

Mr. Paul Sparkes is an accomplished business leader with over twenty five years’ experience in media, public affairs, venture capital, and Canada’s political arena. He is Currently President of Otterbury Holdings Inc., a corporation advising growth companies in the private and public markets.  Most recently Mr. Sparkes was Executive Vice Chair, Director and co-founder of Difference Capital Financial, a TSX-listed specialty finance company. Previously, Mr. Sparkes was Executive Vice President, Corporate Affairs for CTVglobemedia (now Bellmedia). Prior to joining Bell Globemedia in 2001 as Group Vice-President, Public Affairs, Mr. Sparkes held senior positions in public service, including with the Government of Canada and the Government of Newfoundland and Labrador. From 1996 to 2001, he served in the Office of the Prime Minister of Canada as Director of Operations, and Special Assistant for Atlantic Canada. Mr. Sparkes also served as Executive Assistant to two Premiers of Newfoundland and Labrador. Mr. Sparkes sits on several public and private boards including Thunderbird Entertainment (private), Bluedrop Performance Learning Inc. (TSXV: BPL), Antler Gold Inc (TSXV:ANTL.V) BlastGard International Inc (BLGA-US) and is a former board member of the Liquor Control Board of Ontario ( LCBO).

Mr. Josef W. Hocher was a founder of Buried Hill Energy, an international oil and gas company, where he acted as co-chief executive in creating, developing and implementing the organization’s strategic direction.  He continues to serve as the Senior Independent Director and is also either a Chair or a member of various committees. Mr. Hocher also founded Hitic Energy Ltd., and was a partner at Osler, Hoskin & Harcourt LLP. He currently serves as Chairman of Orthoshop Geomatics Ltd., a geomatics services company; holds the position of Chief Commercial Officer at Field Upgrading Limited and Western Hydrogen Limited and since 2016, has been a Partner at Cassels, Brock & Blackwell LLP.

About Invictus MD Strategies Corp.

Invictus MD Strategies Corp. is focused on two main verticals within the burgeoning Canadian cannabis sector: Licensed Producers under the ACMPR, including its wholly owned subsidiary Acreage Pharms Ltd., as well as its investment in the fully licensed facility AB Laboratories Inc.; and Fertilizer and Nutrients through Future Harvest Development Ltd.

For more information, please visit www.invictus-md.com.

On Behalf of the Board,
Dan Kriznic
Executive 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.

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Invictus MD Announces Completion of its Commitment to Acquire 33.33% of Licensed Producer AB Laboratories Inc.

Invictus MD completes acquisition of Acreage Pharms Ltd. a Licensed Producer of Cannabis under the ACMPR

 

Invictus MD completes acquisition of Acreage Pharms Ltd. a Licensed Producer of Cannabis under the ACMPR

 

Invictus MD Announces Completion of its Commitment to Acquire 33.33% of Licensed Producer AB Laboratories Inc.

BUZ INVESTORS PRESS RELEASE  Invictus MD completes acquisition  INVICTUS MD STRATEGIES CORP. (“Invictus MD” or the “Company”) (TSXV: IMH; OTC: IVITF; FRA: 8IS) is pleased to announce that it has acquired 100% of the shares of Acreage Pharms Ltd. (“Acreage Pharms”), a licensed producer of Cannabis under the Access to Cannabis for Medicinal Purposes Regulations (“ACMPR”).

The Company is pleased to announce the appointments of the vendors to the Company’s management team.  Trevor Dixon has been appointed director and Chief Executive Officer of the Company and Brenda Dixon has been appointed the Chief Science Officer of the Company.  Dan Kriznic will continue his leadership role as Executive Chairman of the Company.

“This is an exciting day for Invictus MD, and our shareholders.  With the Company’s acquisition of 100% of Licensed Producer Acreage Pharms in Alberta, we now have 250 acres of cultivation space that stretches from Alberta to Ontario. Acreage Pharms will benefit from a low cost of production as a result of low energy and water costs. Additionally the property is friendly to building as many square feet as required based on the significant demand, which Deloitte reports to be between $4.9 billion and $8.7 billion annually.  I’m also very pleased with Trevor’s appointment as CEO, a highly successful entrepreneur and businessman, and also with Brenda’s appointment.  Invictus MD is fortunate to have both of the Dixons on board, in capacities that will see the Company continue to rapidly expand in the burgeoning cannabis sector. We are Canada’s Cannabis Company,” said Kriznic.

Invictus MD completes acquisition 

“I’m passionate about researching and producing products that have the potential to improve the quality of life for fellow Canadians and am very pleased to be a part of this amazing industry, Invictus MD, and its team of forward thinking professionals.” stated Trevor Dixon, President and CEO.

The Company and the vendors amended the composition of the purchase price for Acreage Pharms concurrently with closing to: (i) decrease the share consideration by one million shares, to 20 million common shares; and (ii) increase the cash consideration by $2 million, to $6 million.  The terms of the three million warrants issued to the vendors with an exercise price of $1.50 per warrant, of which one third will expire every six months on the anniversary of closing, were not changed.  Please see the Company’s news release dated February 24, 2017 for additional information.

Canada’s cannabis industry could reach $22.6 billion over the coming years, according to Deloitte, of which the retail market could be worth up to $8.7 billion. With only 43 producers licensed by Health Canada thus far, there’s a significant market opportunity for Invictus MD to capitalize on this growth over time.  The Company has focused on building its production profile, which includes:

AB Laboratories Inc. (“AB Labs”), a Licensed Producer under the ACMPR, has successfully conducted test crops and is currently operating at half capacity, with full production capacity scheduled by the end of May 2017. They have also acquired a number of different strains and are negotiating numerous others for R & D purposes.

AB Ventures Inc. (“AB Ventures”) 100-acre acquisition is scheduled to close on May 1, 2017, which once licensed under the ACMPR, will be used for future cannabis cultivation. Invictus MD has made a commitment to invest $5.5 million, which will be used to fund the costs of licensing approval under the ACMPR and the initial construction of 42,000 square feet. Considering the magnitude of AB Ventures’ land acquisition and future production facilities, and assuming AB Ventures obtains a license to produce the quantity forecasted for the proposed facility, the combined production capacity of both AB Labs and AB Ventures is expected to exceed 25,000 kilograms in 2020.

Acreage Pharms has constructed a 6,800 square foot production facility and has an expansion plan floor plate of 30,000 square feet, with an option to add a mezzanine. The large 150-acre land package provides the capability to construct facilities to meet the demand that the coming adult recreational marijuana use will create. Acreage Pharms also has plans to produce extracted or oil based products, which are rapidly gaining market share in the cannabis sector. By 2020, Acreage Pharms anticipates production to exceed 25,000 kilograms of high quality, low cost cannabis.
“From day one, we have been very clear: to acquire and grow production capacity under the ACMPR that would allow us to seize the recreational market, when available, was the key driver to increasing shareholder value”, said Dan Kriznic. “Given our ability to aggressively expand the commercial scale of the Acreage Pharms property, we will make key capital investments that enable us to rapidly ramp up production capability.”

Canada is on the global stage for cannabis legalization and moves closer to making history by being the first G-7 nation to legalize and regulate access to cannabis for responsible adult consumption and we welcome the regulatory framework around legalization while reducing access for underage Canadians, keeping profits out of the hands of the black market, and ensuring that customers are protected by having access to clean and safe product. This is of utmost importance, given the expected demand that will come with cannabis legalization for the recreational market.

We embrace the role we will play in the establishment of a secure environment for the continued development of a new cannabis economy that will generate even greater investment, innovation, economic development and job creation to many locations across Canada.

As Canada embarks on this historic and brave path, Invictus MD looks forward to working alongside all levels of government to achieve its goal of keeping cannabis out of the hands of youth and establishing a legitimate market while eradicating the black market.

In connection with the closing, the Company issued to an arm’s length finder a fee consisting of common shares and cash based on 5% of the consideration paid in this transaction.

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 investment in the fully licensed facilities operated by AB Laboratories Inc. and Acreage Pharms Ltd.; 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.

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Invictus MD Announces Completion of its Commitment to Acquire 33.33% of Licensed Producer AB Laboratories Inc.

Invictus MD announces $40,000,000 Bought Deal Private Placement of Convertible Debentures and notice of intention to exercise option on Acreage Pharms

Invictus MD announces $40,000,000 Bought Deal Private Placement of Convertible Debentures and notice of intention to exercise option on Acreage Pharms

 

BUZ INVESTORS Invictus MD announces $40,000,000 Bought Deal INVICTUS MD STRATEGIES CORP. ("Invictus MD" or the "Company") (TSXV: IMH; OTC: IVITF; FRA: 8IS) announced today that it has engaged Canaccord Genuity Corp. and Eventus Capital Corp
BUZ INVESTORS  Invictus MD announces $40,000,000 Bought Deal INVICTUS MD STRATEGIES CORP. (“Invictus MD” or the “Company”) (TSXV: IMH; OTC: IVITF; FRA: 8IS) announced today that it has engaged Canaccord Genuity Corp. and Eventus Capital Corp., as co-lead underwriters and joint-bookrunners, on behalf of a syndicate of underwriters (collectively, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought deal private placement basis, subject to adjustment pursuant to the Underwriters’ Option (as hereinafter defined), $40 million aggregate principal amount of convertible debentures (the “Convertible Debentures”) at a price of $1,000 per Convertible Debenture (the “Offering”).Invictus MD has also granted the Underwriters an option (the “Underwriters’ Option”) to purchase up to an additional $10 million aggregate principal amount of convertible debentures on the same terms as the Convertible Debentures pursuant to the Offering (together with the Convertible Debentures, the “Debentures”). If the Underwriters’ Option is exercised in full, the aggregate gross proceeds of the Offering will be $50 million.




 Invictus MD announces $40,000,000 Bought Deal

The Debentures will bear interest from the date of closing at 8% per annum, payable semi-annually on June 30 and December 31 of each year. The Debentures will have a maturity date of 24 months from the Closing Date of the Offering (the “Maturity Date”).  Net proceeds from the Offering will be used primarily towards expansion and growth opportunities.

The Debentures will be convertible at the option of the holder into common shares of the Company (“Common Shares”) beginning on the date that is four months following the Closing Date and any time prior to the close of business on the Maturity Date at a conversion price of $2.00 per Common Share (the “Conversion Price”). Beginning on the date that is four months and one day following the Closing Date, the Company may force the conversion of all of the principal amount of the then outstanding Debentures at the Conversion Price on 30 days’ prior written notice should the daily volume weighted average trading price of the Common Shares be greater than $3.35, for any 10 consecutive trading days.

The Debentures will be subject to redemption, in whole or in part, by the Company at any time after 12 months upon giving Debenture holders not less than 30 and not more than 60 days’ prior written notice, at a price equal to the then outstanding principal amount of the Debentures plus all accrued and unpaid interest up to and including the redemption date. Upon a change of control of the Company, holders of the Debentures will have the right to require the Company to repurchase their Convertible Debentures, in whole or in part, on the date that is 30 days following the giving of notice of the change of control, at a price equal to 100% of the principal amount of the Debentures then outstanding plus accrued and unpaid interest thereon (the “Offer Price”). If 90% or more of the principal amount of the Debentures outstanding on the date of the notice of the change of control have been tendered for redemption, the Company will have the right to redeem all of the remaining Debentures at the Offer Price.

The Debentures and any Common Shares issuable upon conversion or exercise thereof, as applicable, will be subject to a statutory hold period lasting four months and one day following the closing date.

Closing of the Offering is expected to occur on or about May 9, 2017 (the “Closing Date”). The Offering is subject to certain conditions including, but not limited to, completion of the acquisition of Acreage Pharms, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange.

Notice of Intention to Exercise Option

The Company is also pleased to announce that further to its news release dated February 24, 2017, it has provided Acreage Pharms Ltd. (“Acreage Pharms”), a licensed producer of Cannabis under the Access to Cannabis for Medicinal Purposes Regulations (“ACMPR”), with notification that it intends to exercise its option to acquire 100% of Acreage Pharms’ shares from its current shareholders (the “Vendors”).

The consideration to be paid to the Vendors in connection with the exercise of the option is as follows: (i) a cash payment of $4 million; (ii) 21 million common shares; and (iii) 3 million warrants with an exercise price of $1.50 per warrant, of which: one third of the total number of warrants issued will expire every six months from the date of closing.

Canada is on the global stage for cannabis legalization and moves closer to making history by being the first G-7 nation to legalize and regulate access to cannabis for responsible adult consumption and we welcome the regulatory framework around legalization while reducing access for underage Canadians, keeping profits out of the hands of the black market, and ensuring that customers are protected by having access to clean and safe product. This is of utmost importance, given the expected demand that will come with cannabis legalization for the recreational market.

We embrace the role we will play in the establishment of a secure environment for the continued development of a new cannabis economy that will generate even greater investment, innovation, economic development and job creation to many locations across Canada.

As Canada embarks on this historic and brave path, Invictus MD looks forward to working alongside with all levels of government to achieve its goal of keeping cannabis out of the hands of youth and establishing a legitimate market while eradicating the black market.

The Offering is in the form of a bought deal private placement (i) in Canada to “accredited investors” within the meaning of National Instrument 45-106 and other exempt purchasers in each province of Canada, as agreed upon by the Issuer and the Underwriters, (ii) in the United States in accordance with exemption to the registration requirement under applicable United States securities law, and (iii) outside Canada and the United States on a basis which does not require the qualification or registration of any of the common shares, Warrants, Warrant Shares of the Issuer.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

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 located in both Alberta and Ontario, including Acreage Pharms Ltd. and AB Laboratories Inc. and 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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Invictus MD Announces Completion of its Commitment to Acquire 33.33% of Licensed Producer AB Laboratories Inc.

Invictus MD’s Acreage Pharms Begins Cultivation with Commitment to Produce High Quality Cannabis

Invictus MD’s Acreage Pharms Begins Cultivation with Commitment to Produce High Quality Cannabis

 

BUZ INVESTORS Invictus MD’s Acreage Pharms Begins Cultivation INVICTUS MD STRATEGIES CORP. ("Invictus MD" or the "Company") (TSXV: IMH; OTC: IVITF; FRA: 8IS) announces that Acreage Pharms Ltd. ("Acreage Pharms") which Invictus MD has the option to now acquire

BUZ INVESTORS Invictus MD’s Acreage Pharms Begins Cultivation   INVICTUS MD STRATEGIES CORP. (“Invictus MD” or the “Company”) (TSXV: IMH; OTC: IVITF; FRA: 8IS) announces that Acreage Pharms Ltd. (“Acreage Pharms”) which Invictus MD has the option to now acquire 100 percent and expect to exercise in short order, begins their new cultivation cycle, having received their license to cultivate under the Access to Cannabis for Medical Purposes Regulations (“ACMPR“), they are firmly committed to patient safety and the quality of their cannabis.

“Since being founded, we have established and emphasized a strict culture of regulatory compliance and have committed to enforcing a rigorous Quality Management Program and closely monitoring all our suppliers to ensure that any products used meet or exceed the minimum standards set to comply with Health Canada’s regulations,” said Trevor Dixon, Founder and CEO of Acreage Pharms.  “Our best-in-class Quality Assurance and testing protocols, will give our future clients additional certainty regarding the purity and safety of the medical cannabis we produce. When we set out on this exciting new endeavour we planned on achieving the highest standards when it came to the cultivation and production of medical cannabis. As part of this, we made an important investment in our state-of-the-art, purpose built growth facility near Edson, Alberta, that enables us to produce medical cannabis that meets our exacting standards of quality, consistency, and safety.”



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Invictus MD’s Acreage Pharms Begins Cultivation

Dixon further stated, “additionally, to ensure product integrity through every step of the growing process, we will utilize fertilizer from Future Harvest Development Ltd. (“Future Harvest”), of which Invictus MD currently owns 82.5%, which significantly reduces the risk of unwanted chemicals that might be found in other fertilizers.” Chris Pearson, Chief Revenue Officer of Future Harvest commented that, “We’re committed to our customers’ quality outcomes.  At Future Harvest we’re highly dedicated to consistently producing the highest quality nutrient formulations. This is achieved through our Standard Operating Procedures including closely monitoring and having regular detailed dialogues with our global supply partners to ensure product consistency, a five times cleaning protocol for all batch and formulation tanks, and an independent detailed analysis sample procedure.”

“We’re very proud that Acreage Pharm’s management team has taken steps to implement quality assurance practices and operational controls at the very beginning in order to ensure operations are at a world class standard level,” stated Dan Kriznic, Chairman and CEO of Invictus MD.  “We’re all steadfast in out commitment to lead with practices that meet or exceed the regulatory standard for safety and quality in the Canadian cannabis industry.  We are Canada’s Cannabis Company™.”

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.

For more information, please visit www.invictus-md.com.

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