Invictus’ Acreage Pharms Ltd. (“Acreage Pharms“), fully licensed under the Access to Cannabis for Medical Purposes Regulations (“ACMPR“), is scaling up with new state-of-the-art purpose-built indoor facilities. Phases 1, 2 and 3 are expected to bring Acreage Pharm’s gross cultivation space to 130,000 square feet by January 2019, followed by Phase 4 which will add an additional 90,000 square feet, for a total production capacity of 220,000 square feet.
To complement Acreage Pharms’ portfolio of award-winning strains, Invictus has partnered with world-leading Authentic Brands Group (“ABG“) in New York to launch a line of distinct lifestyle inspired cannabis brands that feature its high-quality products for patients and adult recreational users. Products will include dried flowers, oils and concentrates, and consumables as regulations permit. The Company expects to launch one medical brand and four recreational brands in the coming weeks.
“On October 17, 2018, retailers across Alberta and the province’s only legal online store, albertacannabis.org, will have high-quality, locally grown cannabis products to offer consumers,” said Dan Kriznic, Chairman and CEO of Invictus. “This agreement is great news for the province of Alberta. Acreage did not have its sales license when the initial application was submitted to AGLC and was therefore excluded from the initial AGLC announcement of approved licensed producers (LP). The provinces, including Ontario, have the ability to approve supply agreements on an ad-hoc basis following the initial agreements with LP’s. We continue to press on towards multiple supply agreements across Canada with our initial main focus to be our home province of Alberta.”
The PO with AGLC is the Company’s second provincial supply agreement to service the adult-use market and falls in-line with Invictus’ ambitious five-pillar distribution strategy that includes medical, adult-use, international, LP to LP and retail stores. To date, the Company has entered into supply agreements with British Columbia and Alberta for recreational product and a Letter of Intent (“LOI“) with Germany for medical product, while awaiting responses to Expressions of Interest (“EOI“) submitted to additional provinces including Ontario.
About Invictus
Invictus is a global cannabis company offering a selection of products under a wide range of lifestyle 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, and global branding agency Authentic Brands Group. Invictus is expanding its cultivation footprint, with two cannabis production facilities fully licensed under ACMPR in Canada and a third awaiting approval, featuring 100,000 square feet of available grow space today with 200,000 expected by January 2019 and 1 million by end of 2019. The Company will earmark 50 per cent of production to the medical and recreational markets, respectively. 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 69 Health Canada approved strains and a multifaceted distribution strategy including medical, recreational, international and retail. For more information visit www.invictus-md.com.
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