​Invictus MD's (IMH: CA) Acreage Pharms Receives Development Permit for Phase 2 and Provides Update

Spotlight Companies |

Invictus MD Strategies Corp.'s (IMH:CA) licensed production facility under the access to cannabis for medical purposes regulations, Acreage Pharms Ltd., located near Edson, Alta., utilizing a multiroom indoor perpetual growing methodology, will begin its first harvest the first week of August, with the second harvest occurring the following week. The company anticipates a harvest to take place approximately monthly going forward.

Invictus MD is further pleased to announce that Acreage Pharms has received its development permit for phase 2 and has broken ground initiating construction on its 27,800-square-foot purpose-built, multiple-room production facility. All contractors and suppliers necessary for the project have been scheduled. Invictus MD has committed to investing $6.0-million, which will be used to finance the costs of constructing the production facility.

"Following our successful harvest at the AB Laboratories production facility as announced earlier, and by securing the development permit for our Alberta production facility, with $30-million cash available and the majority earmarked for building production capacity, Invictus MD is prepared for an exciting year of growth," said Dan Kriznic, executive chairman and chief executive officer, Invictus MD. "Led by one of the industry's most experienced teams, we are strongly focused on building our shareholder value. With 250 acres of cultivation space that stretches from Alberta to Ontario, allowing for purpose-built production facilities rather than retrofitting existing buildings, our large land package allows for building cultivation facilities as demand increases and we will continue the disciplined but agile execution of our business strategy, and further establishing our leadership position as Canada's cannabis company," added Mr. Kriznic.

Invictus MD also announced that Paul Sparkes and Josef W. Hocher have been appointed to the company's board of directors.



Mr. Sparkes is an accomplished business leader with over 25 years experience in media, public affairs, venture capital and Canada's political arena. He is currently president of Otterbury Holdings Inc., a corporation advising growth companies in the private and public markets. Most recently Mr. Sparkes was executive vice-chair, director and co-founder of Difference Capital Financial, a Toronto Stock Exchange-listed specialty finance company. Previously, Mr. Sparkes was executive vice-president, corporate affairs, for CTVglobemedia (now Bellmedia). Prior to joining Bell Globemedia in 2001 as group vice-president, public affairs, Mr. Sparkes held senior positions in public service, including with the government of Canada and the government of Newfoundland and Labrador. From 1996 to 2001, he served in the office of the Prime Minister of Canada as director of operations, and special assistant for Atlantic Canada. Mr. Sparkes also served as executive assistant to two Premiers of Newfoundland and Labrador. Mr. Sparkes sits on several public and private boards including Thunderbird Entertainment (private), Bluedrop Performance Learning Inc., Antler Gold Inc., BlastGard International Inc. and is a former board member of the Liquor Control Board of Ontario.

Mr. Hocher was a founder of Buried Hill Energy, an international oil and gas company, where he acted as co-chief executive in creating, developing and implementing the organization's strategic direction. He continues to serve as the senior independent director and is also either a chair or a member of various committees. Mr. Hocher also founded Hitic Energy Ltd., and was a partner at Osler, Hoskin & Harcourt LLP. He currently serves as chairman of Orthoshop Geomatics Ltd., a geomatics services company, holds the position of chief commercial officer at Field Upgrading Ltd. and Western Hydrogen Ltd., and since 2016 has been a partner at Cassels, Brock & Blackwell LLP.

About Invictus MD Strategies Corp.

Invictus MD Strategies is focused on two main verticals within the burgeoning Canadian cannabis sector: licensed producers under the ACMPR, including its wholly owned subsidiary Acreage Pharms Ltd., as well as its investment in the fully licensed facility AB Laboratories Inc.; and fertilizer and nutrients through Future Harvest Development Ltd.

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Companies

Symbol Name Price Change % Volume
IMH:CA Invictus MD Strategies Corp 1.38 0.01 0.73 715,984

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