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Invictus MD Provides Update On Acreage Pharms



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In April, Invictus MD Strategies Corp. (IMH.V) (IVITF) announced that Acreage Pharms' new cultivation cycle had commenced after receiving their license to cultivate under the ACMPR.

Today, Invictus reported that Acreage Pharms will begin its first harvest the first week of August, with the second harvest occurring the following week. Acreage Pharms expects monthly harvests going forward.

Acreage Pharms also received its development permit for Phase 2 and broke ground on its 27,800-square foot production facility. Invictus MD committed to investing $6 million into the project to fund the costs of constructing the production facility.

Invictus Continues to Execute and Deliver

We were favorable on this update and will monitor how the market responds to it. In late April, Invictus completed the acquisition of Acreage Pharms. The acquisition was announced in late 2016 and completed one month after Acreage Pharms received a cultivation license from Health Canada.

We are favorable on the acquisition because Invictus should recognize millions worth of synergies form it over the next few years. Initially, we expect Invictus to benefit by Acreage Pharms utilizing fertilizer from its subsidiary, Future Harvest Development throughout the growing process.

Board Room Expansion

Concurrent with today's announcement, Invictus MD also reported two additions to the Board of Directors, Paul Sparkes and Josef W. Hocher. We are favorable on these additions as well as the company's focus on strengthening its leadership team.

Paul Sparkes is an accomplished business leader with over 25 years' experience in media, public affairs, venture capital, and Canada's political arena. He is President of Otterbury Holdings Inc., a corporation advising growth companies in the private and public markets.

Josef W. 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. Hocher also founded Hitic Energy Ltd., and was a partner at Osler, Hoskin & Harcourt LLP.

A Story that Continues to Develop and Advance

We are favorable on the recent developments reported by Invictus when it comes to its investments and subsidiaries (AB Labs, AB Ventures, Acreage Pharms, and Future Harvest Development).

Shares of Invictus have rallied off its recent lows and we continue to see upside to current levels. We are monitoring how the company executes from here and continues to view Invictus as a company to watch.

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This article was written by Mark Maulden for on .

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