Vancouver, BC, March 22, 2019 (GLOBE NEWSWIRE) -- INVICTUS MD STRATEGIES CORP. ("Invictus" or the "Company") (TSXV: GENE; OTCQX: IVITF; FRA: 8IS1) is pleased to announce that the Company’s licensed producer AB Labs Inc. (“AB Labs") has received a medical sales and processing license from Health Canada effective March 16, 2019, pursuant to the Cannabis Act and Cannabis Regulations (“CACR”). The newly awarded license allows for the sale of final packaged flower, plants and seeds to retailers, distributers and patients.
AB Labs, located in Hamilton, Ontario is at the heart of the Company’s presence in Eastern Canada, with its 16,000 square foot Phase 1 facility currently operating at full capacity, and its 40,000 square foot Phase 2 facility just weeks away from finalizing its Confirmation of Readiness submission to Health Canada. AB Labs’ research and development is also ongoing, with fifteen new strains expected to be added to Invictus’ product portfolio this year.
“We are proud to have achieved another major milestone with our third sales license awarded by Health Canada,” said George E. Kveton, President and CEO of Invictus. “We are looking forward to increasing our capacity at facilities across Canada in 2019 to ensure a consistent and substantial supply of products for recreational and medical patients alike.”
AB Labs represents the Company's third cultivation license and third sales license issued by Health Canada under the Cannabis Act and Cannabis Regulations. Invictus' production footprint includes licensed cannabis operations in British Columbia, Alberta and Ontario.
For more information, please visit www.invictus-md.com.
On Behalf of the Board,
George E. Kveton
Chief Executive Officer and Director
Vice President, Public Relations and Regulatory Affairs
Invictus is a global cannabis company offering a selection of products under a wide range of brands. Our integrated sales approach is defined by five pillars of distribution including medical, adult-use, international, Licensed Producer to Licensed Producer and retail stores.
Invictus has partnered with business leaders to convey our corporate vision, including KISS music legend and business mogul Gene Simmons as our Chief Evangelist Officer. To meet growing demand, Invictus is expanding its cultivation footprint, with three cannabis production facilities licensed under the Cannabis Act and Cannabis Regulations in Canada. To accommodate international sales, Invictus’ wholly-owned subsidiary, Acreage Pharms Ltd. (“Acreage Pharms”), has designed and is currently building its Phase 3 purpose-built cultivation facility to be European Union Good Manufacturing Practices (“EU-GMP”) compliant. The Company is targeting up to 50 percent of production to medical cannabis. To ensure consistency in quality and supply, Invictus maintains all aspects of the growing process through its subsidiary, Future Harvest Development Ltd. (“Future Harvest”), a high-quality fertilizer and nutrients manufacturer. Invictus drives sustainable long-term shareholder value through a diversified product portfolio with over 70 Health Canada approved strains and a multifaceted distribution strategy including medical, adult-use, international, Licensed Producer to Licensed Producer and retail stores. For more information visit www.invictus-md.com.
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, timing, assumptions or expectations of future performance, including the AB Labs Phase 2 facility is anticipated to be weeks away from submitting its Confirmation of Readiness to Health Canada and that AB Labs is expected to add 15 new strains of cannabis to the Company’s product portfolio this year 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 that the AB Labs Phase 2 facility is weeks away from submitting its Confirmation of Readiness to Health Canada and that AB Labs will add 15 new strains of cannabis to the Company’s product portfolio this year. 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, that the AB Labs Phase 2 facility will not submit its Confirmation of Readiness to Health Canada on the timeline anticipated by management or at all and that AB Labs will not add 15 new strains of cannabis to the Company’s product portfolio this year or at all. 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.
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