INVICTUS MD REAFFIRMS ITS TARGET CAPACITY IN 2019 TO 76,000 KG
Invictus MD Strategies Corp. has reaffirmed its increased target capacity to 76,000 kilograms based on expanding facilities in 2019 to approximately 520,000 square feet outlined on Jan. 16, 2018. Dan Kriznic, Invictus MD's chairman and chief executive officer, stated: "The company has achieved a number of important achievements as we march towards fulfilling capacity goals during this historic and important year for Canada's cannabis industry. We started this company in 2014 with the intention of becoming Canada's cannabis company. With the granting of AB Laboratories Inc.'s sales licence and the progress being made on the phase 2 production facility at Acreage Pharms Ltd.'s, key constructions milestones in the drive towards that intent are being achieved. This dramatically advances our timeline for increasing our annual run-rate production capacity at our facilities to 26,000 kilograms in 2018 in time for the adult-use market. Invictus MD's current cash balance is approximately $32-million."
The company also reports that it has granted 1.1 million incentive stock options to directors and consultants of the company. The stock options are exercisable for a period of five years at an exercise price of $1.84 per share. The options were granted under and are subject to the terms and conditions of the company's stock option plan.
About Invictus MD Strategies Corp.
Invictus MD Strategies is focused on two main verticals within the Canadian cannabis sector, namely the licensed producers under the ACMPR (Access to Cannabis for Medical Purposes Regulations), being its 100-per-cent investment in Acreage Pharms, located in west-central Alberta, and its 33-per-cent investment in AB Laboratories, located near Hamilton, Ont., which has both its cultivation and sales licence under ACMPR. Combined, the two licences and an expected third licence under AB Ventures have an approximate annual run-rate production capacity of 76,000 kilograms by 2019. In addition to ACMPR licences, the company has an 82.5-per-cent investment in Future Harvest Development Ltd., a fertilizer and nutrient manufacturer based in Kelowna, B.C.
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