From IR:
Ahead of cannabis legalization on October 17, 2018, we are working diligently to ensure Invictus is well positioned to succeed. We have done so by taking measured steps to expand our cultivation space and strain profile, while developing a dynamic and muscular approach to retail sales. Health Canada recently awarded our second sales license, which now include Acreage Pharms Ltd. (“Acreage Pharms”) in Alberta and AB Laboratories Inc. (“AB Labs”) in Ontario.
Our ambitious retail plan involves building out dispensaries across Western Canada, as well as partnerships with other sales platforms and industry colleagues. We are also launching a first-of-its-kind zero-cleaning vaporizer called PODA, cultivating an ever-increasing portfolio of strains, and meeting ongoing construction and development goals.
Some additional accomplished milestones include:
- Acreage Pharms acquired 23 new strains, offering even more depth and breadth to the company’s cannabis strain portfolio
- Acreage Pharms completes its 33,000-square-foot Phase 2 construction and begins preparing site for 90,000-square-foot Phase 3 expansion project for total of 130,000 square feet exiting 2018
- Increased its strategic investment in AB Labs from 33.3 percent ownership to 50 percent ownership.
- AB Labs construction of the Phase 2 expansion remains on-schedule. The Phase 2 facility, located adjacent to Phase 1, will add 40,000 square feet to the current operations and increase total cultivation space to 56,000 square feet
- AB Labs’ 16,000 square foot Phase 1 facility, operating at full capacity, completes its second transfer of 63 kg of dried cannabis to Canopy Growth Corporation’s (TSX: WEED) Tweed’s elite CraftGrow line.
-AB Labs purchases an additional acre of neighboring land dedicated to future expansion opportunities at the facility.
-Signs a non-binding Letter of Intent (“LOI”) to sell dried cannabis to a German importer and distributor of medical cannabis
-Appoints music legend and entrepreneurial powerhouse Gene Simmons, one of the founders of the seminal rock ’n’ roll band KISS, as Chief Evangelist Officer and changes TSX Venture Exchange symbol from IMH to GENE.
-Launched an ambitious cannabis oil extraction program, an investment that involved the purchase of top-of-the-line C02 extraction equipment and the hiring of key extraction personnel.
-Announces that it had entered into a binding letter of intent for an option to acquire 100% of the outstanding shares of a British Columbia ACMPR applicant with two properties one of which is on 32 acres with low cost of power and significant land to build expansion.
The anticipated year ahead includes the launch of retail stores and sales of cannabis through agreements with other industry partners in addition to expanding square footage in three provinces to meet the domestic and global demand for cannabis.
We look forward to even more announcements in the weeks and months ahead.
Kindest regards,
Jessica Martin
