VANCOUVER, Oct. 27, 2017 /CNW/ - INVICTUS MD STRATEGIES
CORP. ("Invictus MD" or the "Company") (TSXV: IMH; OTC: IVITF; FRA: 8IS1), through its interests in two Access to Cannabis
for Medical Purposes Regulations ("ACMPR") license holders, its wholly-owned subsidiary Acreage Pharms Ltd. ("Acreage
Pharms") and its one-third interest in AB Laboratories Inc. ("AB Labs"), expects to have production capacity of
6,000 kg commencing January 2018, several months before Canada
expects cannabis to become recreationally legal. Total current production capacity at both locations is approximately 1,500
kg.
License Capacity and Term
Health Canada has removed the previously disclosed production capacity restrictions at both
Acreage Pharms and AB Labs. In addition, AB Labs received an extension of its existing ACMPR license for a period of two years
and Acreage Pharms' ACMPR license was extended through to March 2020.
Update on Sales Approval
AB Labs has submitted a request to Health Canada to amend its license to allow for the sale and distribution of medical
cannabis (the "Amendment"). Health Canada's approval of the Amendment is subject to,
among other things, a regulatory inspection of AB Labs' production facility and cannot be guaranteed by the Company.
However, management of the Company is confident that AB Labs is compliant with all necessary requirements, that AB Labs' facility
will pass the required inspection and that Health Canada will approve the Amendment and grant AB Labs a sales license in due
course.
Acreage Pharms has submitted additional samples to three independent labs licensed by Health Canada and management is
confident Acreage Pharms will receive a sales license once the quality assurance team has analyzed the results. This
will be a significant milestone for Acreage Pharms and the Company.
Update on Production
AB Labs plans to release over 6 Lots consisting in excess of 75 kg over the next one to three months. The facility
is currently at full production and development plans have been submitted for an expansion at the AB Ventures Ltd. 100 acre site
in Hamilton, Ontario. The current facility at AB Labs can produce 1,000 kg at full capacity.
Acreage Pharms' existing facility is also currently at full production and additionally has converted a vegetative room into a
flowering room, thereby providing additional production capacity. Total capacity is expected to reach 5,000 kg by January 2018 when Acreage Pharms completes its current 32,000 square foot expansion. Acreage Pharms phase 2
expansion is currently underway with the completion of the concrete foundation and expectation the tilt up slab concrete walls
will be installed by end of November.
Management commentary
Dan Kriznic, Chairman & CEO, of Invictus MD, commented "I am very pleased to report that our operational activities are
unfolding according to our business plan, and that our strategic efforts to build Canada's
Cannabis Company are coming together. The issuing of the sales and distribution Amendment to Acreage Pharms and AB Labs
cultivation license under the ACMPR would constitute a significant value catalyst for our shareholders. I would further comment
that the company's balance sheet remains very strong; it has minimal debt and the approximate $26
million cash in the treasury has been reserved to expand its canopy footprint on its 250 acres of property, making it one
of the top producers under the ACMPR. This production is needed to meet the significant demand for high quality, standardized,
pesticide free product not only for the existing medical market but also to accommodate the recreational market that will
commence mid 2018."
About Invictus MD Strategies Corp.
Invictus MD Strategies Corp. is focused on two main verticals within the Canadian cannabis sector, namely the Licensed
Producers under the ACMPR, Acreage Pharms Ltd. and AB Laboratories Inc.; along with Fertilizer and Nutrients through Future
Harvest Development Ltd.
For more information, please visit www.invictus-md.com.
On Behalf of the Board,
Dan Kriznic
Chairman & CEO
Larry Heinzlmeir
Vice President, Marketing & Communications
604-537-8676
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may
constitute forward-looking information within the meaning of applicable Canadian securities laws or forward-looking statements
within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements in this news release,
other than statements of historical facts, including statements regarding future estimates, plans, objectives, assumptions or
expectations of future performance, including the potential production capacity of AB Labs, AB Ventures and Acreage Pharms'
production facilities, the granting of regulatory approval and anticipated timing of AB Labs reaching full production capacity,
the granting of a sales license under the ACMPR to AB Labs, AB Ventures and Acreage Pharms, the success and timing of AB Labs'
release of additional lots; and the success and timing of Acreage Pharms' expansion plans, are forward-looking statements
and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of
forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that
certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain
material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press
release, including the assumptions AB Labs, AB Ventures and Acreage Pharms will receive regulatory approval to sell medical
cannabis at their production facilities' full capacity, AB Ventures will be granted a license under the ACMPR, AB Ventures is
able to successfully build a production facility and Acreage Pharms is able to successfully complete its expansion plans. These
forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied
by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary,
include, without limitation, the risk that AB Labs, AB Ventures and Acreage Pharms will not receive regulatory approval to sell
medical cannabis at their production facilities or reach full production capacity, AB Ventures will not be granted a license
under the ACMPR, AB Ventures is not able to successfully build a production facility; and Acreage Pharms is not able to
successfully complete its expansion plans. Although management of the Company has attempted to identify important factors that
could cause actual results to differ materially from those contained in forward-looking statements or forward-looking
information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and
forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes.
The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that
are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Invictus MD Strategies
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