Vancouver, BC, Feb. 13, 2019 (GLOBE NEWSWIRE) -- INVICTUS MD STRATEGIES CORP. ("Invictus" or the "Company") (TSXV: GENE; OTCQX: IVITF; FRA: 8IS1) is pleased to announce that its wholly-owned subsidiary, Acreage Pharms Ltd. ("Acreage Pharms"), has signed an agreement to supply the Ontario Cannabis Retail Corporation (“OCRC”), through the Ontario Cannabis Store (“OCS”), with a selection of premium cannabis products for the adult recreational market.
Acreage Pharms, located in Edson, Alberta, is Invictus’ largest purpose-built indoor facility fully licensed under the Cannabis Act and Cannabis Regulations. The Company’s portfolio of Licensed Producers also includes 0989561 B.C. Ltd. (“Canandia”) in Delta, British Columbia, and AB Laboratories Inc. ("AB Labs") in Hamilton, Ontario.
"We are thrilled to bring our premium cannabis products to Canada’s largest market through the OCS,” said George E. Kveton, President and CEO of Invictus. “Since the legalization of adult recreational cannabis on October 17, 2018, we have been supplying consumers in Alberta and BC. Now, for the first time, consumers in Ontario will have an opportunity to experience what we have to offer.”
Invictus’ product portfolio is expected to expand in 2019 with a variety of new strains, oils and concentrates, as regulations permit. In August 2018, Acreage Pharms received its extraction license for the production of oil and is continuing to work with Health Canada to obtain its sales license for oil products. Looking ahead, Invictus is actively participating in consultations with the Government of Canada on the proposed regulatory framework governing edibles, which are expected to become legal in Canada in the fourth quarter of 2019.
The Ontario supply agreement for adult recreational cannabis is the Company’s fourth in Canada, following Alberta, British Columbia and Saskatchewan. Invictus has also signed its first international supply and distribution agreement for medical cannabis with Deutsche Medizinalcannabis GmbH in Germany.
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., has designed and is currently building its Phase 3 purpose-built cultivation facility to be European Union Good Manufacturing Practices compliant. The Company is targeting for up to 50 percent of its production to comprise medical cannabis. To ensure consistency in quality and supply, Invictus maintains all aspects of the growing process through its subsidiary, Future Harvest Development Ltd., 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 sale of the Company’s products to recreational consumers in Ontario, the Company’s expansion of its product portfolio in 2019 and edible cannabis anticipated to become legal in 2019 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 Company will be able to sell its products to recreational consumers in Ontario, that the Company will expand its product portfolio in 2019 and that the Company will complete its launch of Invictus medical and adult recreational brands under T2C, and edible cannabis becoming legal in 2019. 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 Company will not be able to sell its products to recreational consumers in Ontario, that the Company will not be able to expand its product portfolio in 2019 and that edible cannabis will not become legal in 2019. 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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