INVICTUS PROVIDES UPDATE ON OIL EXTRACTION PROGRAM
Vancouver, BC, Feb. 25, 2019 (GLOBE NEWSWIRE) -- INVICTUS MD STRATEGIES CORP. ("Invictus" or the "Company") (TSXV: GENE; OTCQX: IVITF; FRA: 8IS1) is pleased to announce that its wholly-owned subsidiary, Acreage Pharms Ltd. ("Acreage Pharms"), has successfully completed testing on two batches of oil and is working to finalize its application to Health Canada to allow for the sale of bottled cannabis oil and cannabis resin.
Acreage Pharms' closed-loop CO2 system performs Subcritical and Supercritical Fluid Extraction utilizing high-pressure carbon dioxide to extract essential oils from botanicals, using specific temperatures and pressures to withdraw different components from plants. The system is operating at full capacity to build inventory in anticipation of Acreage Pharms receiving Health Canada approval. The new product line is expected to include a 1-to-1 ratio of CBD to THC oil, high CBD oil, and high THC oil for both the medial and recreational markets.
We are expanding our portfolio to satisfy consumer demand, adding oils and concentrates to our line-up of premium flower products
said George E. Kveton, CEO of Invictus.
Research shows oils are increasing in popularity and we need to remain nimble to keep abreast of market trends
Separately, Invictus has also granted 150,000 stock options to a certain advisor of the Company. Each stock option has an exercise price of $0.98 and is exercisable into one common share of the Company. The options vest immediately and are exercisable over a period of five years. The stock options were granted subject to the terms and conditions of the Company's Stock Option Plan.
For more information, please visit www.invictus-md.com.
On Behalf of the Board,
George E. Kveton
Chief Executive Officer and Director
Vice President, Public Relations and Regulatory Affairs
Invictus is a global cannabis company offering a selection of products under a wide range of brands. Our integrated sales approach is defined by five pillars of distribution including medical, adult-use, international, Licensed Producer to Licensed Producer and retail stores.
Invictus has partnered with business leaders to convey our corporate vision, including KISS music legend and business mogul Gene Simmons as our Chief Evangelist Officer. To meet growing demand, Invictus is expanding its cultivation footprint, with three cannabis production facilities licensed under the Cannabis Act and Cannabis Regulations in Canada. To accommodate international sales, Invictus’ wholly-owned subsidiary, Acreage Pharms Ltd., has designed and is currently building its Phase 3 purpose-built cultivation facility to be European Union Good Manufacturing Practices compliant. The Company is targeting for up to 50 percent of its production to comprise medical cannabis. To ensure consistency in quality and supply, Invictus maintains all aspects of the growing process through its subsidiary, Future Harvest Development Ltd., a high-quality fertilizer and nutrients manufacturer. Invictus drives sustainable long-term shareholder value through a diversified product portfolio with over 70 Health Canada approved strains and a multifaceted distribution strategy including medical, adult-use, international, Licensed Producer to Licensed Producer and retail stores. For more information visit www.invictus-md.com.
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, timing, assumptions or expectations of future performance, including that Acreage Pharms is anticipated to obtain Health Canada approval to sell cannabis oils and that Acreage Pharms’ cannabis oil product line is expected include CBD 1-to-1 ratio oils and high THC oils 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 that Acreage Pharms will obtain Health Canada approval to sell cannabis oils and that Acreage Pharms’ cannabis oil product line will include CBD 1-to-1 ratio oils and high THC oils. 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, that Acreage Pharms will not be granted approval from Health Canada to sell cannabis oils and that Acreage Pharms’ cannabis oil product line will not include CBD 1-to-1 ratio oils and high THC oils. 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.