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Invictus MD: Canada's Cannabis Company Continues to Deliver

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Invictus MD (TSX: IMH.V) (OTC: IVITF) issued a corporate update after it closed a bought deal financing and reiterated its vision to expand and solidify its cultivation portfolio.

Over the last six months, Invictus has executed on its previously announced strategy and reported several significant milestones. During this time, the company has strengthened its balance sheet and has positioned the company to take advantage of the burgeoning legal cannabis industry.

Highlights from the Update

In early May, AB Ventures closed its 100-acre acquisition and once this land is licensed, it will be used for cannabis cultivation. The company appointed Michael Alezane as its construction manager and he will facilitate the buildout of the initial 42,000 square foot cultivation facility.

AB Ventures plans to build additional production facilities on the new land totaling 100,000 square feet. Once licensed, the land will enable AB Ventures to significantly increase capacity and keep pace with the growing demand.

AB Laboratories is another subsidiary of the company and has a 16,000 square foot facility located near Hamilton, Ontario. AB Labs recently conducted its first harvest that provided very favorable results. AB Labs has achieved full production capacity and will apply for its pre-sales inspection soon.

In late April, Invictus significantly increased the amount of land it may be able to grow on after completing the acquisition of Acreage Pharms. The acquisition was initially reported in late 2016 and the final announcement came one month after Acreage Pharms received a cultivation license from Health Canada.

Invictus MD plans to create value for its shareholders in the very near future by spinning off Poda Technologies, a wholly owned subsidiary that is focused on the development of consumer cannabis devices.

From the Management Team

Invictus MD Executive Chairman Dan Kriznic said, "Following our successful financing with Canaccord Genuity Corp., Eventus Capital Corp., Echelon Wealth Partners Inc., GMP Securities L.P. and PI Financial Corp., including the over-allotment option, for aggregate gross proceeds of $25,008,750, Invictus MD is well capitalized and prepared for an exciting year of growth. 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, we now have the largest land package in Canada for building cultivation facilities as demand increases and we will continue the disciplined but agile execution of our business strategy."

Invictus MD President and CEO Trevor Dixon said, "The Company is focused on achieving increased production profile growth in the near future. Cultivation began earlier in the month at Acreage Pharms Ltd. (Acreage Pharms), a Licensed Producer under the Access to Cannabis for Medical Purposes Regulations ("ACMPR"). Planning has begun for the Phase 2 build out; Acreage Pharms has an existing 6,800 square foot production facility with an expansion plan floor plate of 27,400 square feet, that sits on 150 acres of land in West Central Alberta. To facilitate the construction of Phase 2, Mr. Harmen Bangma has been appointed construction manager."

A Story to Watch

Invictus MD has been under significant pressure recently and we believe this announcement should receive a favorable reaction from the market. The company has continued to execute over the last six months and the shares are well off its 2017 highs.

IMH.V and IVITF are down more than 30% from its April highs and momentum has been trending lower.


This article was written by Mark Maulden for https://technical420.com/cannabis-article/invictus-md-canadas-cannabis-company-continues-deliver on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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