|Gene Simmons gives this the kiss of life.|
VANCOUVER, March 27, 2018 /CNW/ - INVICTUS MD STRATEGIES CORP.(IVITF) ("Invictus" or the "Company") (TSXV: GENE; OTC: IVITF; FRA: 8IS1) announced today that the company has commenced construction on a key expansion building near Hamilton following a recent tour of AB Laboratories Inc. ("AB Labs") and AB Ventures Inc. ("AB Ventures") by Invictus' new Chief Evangelist Officer, rock legend Gene Simmons of KISS.
"I joined Invictus to become a part of a great company. And to play a role in this dynamic industry. The Invictus team is executing at such a high level — the business acumen, dedication and drive is among the best I have encountered in any industry," said Simmons. "I'm already learning so much, and eager for more. This industry is in full-ferment in Canada, and Invictus is taking all of the right steps as Canada moves closer towards full legalization. It's exciting."
AB Lab's Phase 2 construction adds 40,000 sq. ft. of canopy to the existing 15,600 square feet of cultivation space. The combined facility contains multiple rooms for cultivation, trimming and drying in a controlled and regulated environment, and plays a critical role in Invictus' strong production profile.
"The progress at AB Labs has been a triumph from the beginning, and stands as a testament to savvy project management," said Invictus Chairman and CEO Dan Kriznic. "Given his decades of experience managing highly successful business efforts in such a wide variety of fields — music, merchandising, restaurants and more — I was thrilled to introduce Gene to the experienced staff that work at AB Labs."
Kriznic added: "Beginning with our first conversation, Simmons said he was eager to roll up his sleeves and become deeply involved with the different facets of Invictus. He wasn't kidding. Just days after opening the day of trading at the TSXV on behalf of Invictus, Simmons began diving deep into the regulatory and commercial nitty-gritty of building a leading cannabis company in Canada — touring his first cannabis facility, asking smart questions, dedicating himself to learning the business. We anticipate years of smart insights and hands-on guidance from Simmons."
Invictus operates cannabis companies in Canada with the vision of producing a variety of high quality and low cost cannabis products and strains to the global market place as regulations permit. Gene Simmons, music legend and media mogul, conveys the vision of Invictus as the Chief Evangelist Officer.
Invictus operates two cannabis production sites under the Access to Cannabis for Medical Purposes Regulations ("ACMPR") in Canada and has over 95,000 square feet of cannabis production capacity at the licensed production sites. The Company's wholly owned subsidiary Acreage Pharms Ltd. ("Acreage Pharms"), located in West-Central Alberta on 150 acres, has approximately 40,000 square feet of cannabis ready production with its recently completed Phase 2 expansion. The Company intends on expanding to 120,000 square feet by the end of 2018 once Phase 3 is complete.
Invictus also owns 50% of AB Laboratories Inc. ("AB Labs"), a licensed producer under the ACMPR located in Hamilton, Ontario. AB Labs currently operates in a 16,000 square foot facility and recently acquired a facility adjacent to the existing property that will allow for a total of 56,000 square feet of cultivation space ready for production by June 2018. During the first quarter of 2018 AB Labs submitted a secondary license to Health Canada for a nearby property on 100 acres under the name AB Ventures Inc. ("AB Ventures"). Invictus has committed $5.5 million in cash to AB Ventures to secure its 33 1/3 percent ownership and allow AB Ventures to build its first 20,000 square foot facility on the 100-acre property.
Combined, the licensed producers owned by Invictus expect to have approximately 200,000 square feet of cannabis production capacity by the end of 2018 and 520,000 square feet of cannabis production capacity by the end of 2019.
In addition to the ACMPR licenses, the Company has an 82.5% investment in Future Harvest Development Ltd. a high quality Fertilizer and Nutrients manufacturer based in Kelowna, British Columbia that has been in operation for over 20 years under the brand Plant Life Products and Holland Secret.
For more information, please visit www.invictus-md.com.
On Behalf of the Board,
Chairman & CEO
Vice President, Marketing & Communications
Invictus MD Strategies Corp.(IVITF)
In the United States
Terry L. Wills
Wills Communications, Inc.