Vancouver, June 26, 2019 (GLOBE NEWSWIRE) --
Vancouver, BC, June 26, 2019 - INVICTUS MD STRATEGIES CORP. ("Invictus" or the "Company") (TSXV: GENE; OTCQX: IVITF; FRA: 8IS2) Mr. Trevor Dixon, Chief Executive Officer of Invictus, is pleased to report that AB Laboratories Inc. (“AB Labs”), a company which is a 50% owned subsidiary of Invictus has completed construction of their 40,000 sq. ft. custom built cultivation facility located near Hamilton, Ontario. AB Labs’ facility contains ten identical cultivation rooms capable of producing over 65 crops annually on a tightly controlled weekly production schedule.
Mr. Marc Ripa, Chief Operating Officer of Invictus and Chief Executive Officer of AB Labs and the other 50% owner of AB Labs stated, “It has been a long road to completion, but we are extremely excited about the end product. AB Labs submitted their evidence package to Health Canada on June 4, 2019 to amend its license to include the new facility. I will continue to work closely with Health Canada to expedite the start of production.”
Mr. Ripa continued, “AB Labs is focused on producing high quality products within a highly automated production environment. AB Labs Phase I facility has been in full production since January 1, 2017 and continues to work on a strict production schedule yielding crops on a monthly basis. The Phase I research and development on strain varieties continues with great success. AB Labs is currently offering fifteen strain varieties to their registered medical clients”.
AB Labs became a Licensed Producer under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) on October 21, 2016. AB Labs also received its sales license pursuant to the ACMPR, effective January 5, 2019. On October 22, 2017, Health Canada extended the existing ACMPR license for a period of two years. AB Labs applied for the renewal of their license under the Cannabis Act, which replaced the ACMPR, for an additional 3 years on June 21, 2019.
On Behalf of the Board
Chief Executive Officer
Investor Relations 1-844-800-6086
Invictus is a global cannabis company with a focus on the Canadian cannabis space, offering a selection of products under a wide range of cannabinoid profiles that fit the demand of the Company’s medical clients and retail customers. The Company’s integrated sales approach is defined by five pillars of distribution including medical, adult-use, international, Licensed Producer to Licensed Producer and sales to provinces.
To meet growing demand, Invictus is expanding its cultivation footprint with three cannabis production facilities licensed under the Cannabis Act, which replaced the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) in Canada. Invictus’ wholly-owned subsidiary, Acreage Pharms Ltd.’s (“Acreage”) Phase I and Phase II facilities are in full production and Acreage is completing its Phase III cultivation facility. Invictus’ wholly owned subsidiary 0989561 B.C. Ltd. (dba Canandia Bioceuticals) Delta facility is a licensed producer and has received its sales license issued by Health Canada under the Cannabis Act. Another of Invictus’ wholly owned subsidiaries, 2015059 Alberta Ltd. (dba Leaf Wise), continues to connect medical clients to physicians for medical cannabis and to Invictus’ fully licensed cannabis producers under the Cannabis Act. Future Harvest Development Ltd., a company which is a 82.5% owned subsidiary of Invictus continues to produce high-quality fertilizer and nutrients which are supplied to licensed cannabis producers. Invictus is targeting up to 50 percent of production to medical cannabis. Invictus drives sustainable long-term shareholder value by continuing to develop Invictus’ Canadian production of medical and recreational cannabis products. For more information visit www.invictus-md.com.
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Invictus MD Strategies Corp.