INVICTUS MD STRATE COM NPV (OTCMKTS:IVITF)
INVICTUS MD STRATE COM NPV (OTCMKTS:IVITF) has announced the full acquisition of Acreage Pharms Ltd. Acreage Pharms Ltd – a licensed cannabis producer under the Access to Cannabis for Medicinal Purposes Regulations (“ACMPR“). The company has also announced the appointment of the company’s management. Brenda Dixon has been appointed the company’s Chief Science Officer while Trevor Dixon will serve as the company’s Director and Chief Executive Officer. Dan Kriznic will retain his position as the company’s Executive Chairman.
In a statement, Kriznic said it is an opportune moment for Invictus MD and its shareholders adding that this will increase their cultivation area to 250 acres stretching from Alberta to Ontario. He adds that the company will benefit from reduced production costs as a result of reduced water and energy costs. Kriznic also lauded the appointment of Trevor as the company’s CEO adding that he is a highly experienced businessman and entrepreneur.
On his part, Trevor Dixon said he is very passionate about researching and producing products and have the ability to change and improve people’s quality of life. Acreage Pharms and the vendors unanimously agreed to amend INVICTUS MD STRATE COM NPV (OTCMKTS:IVITF)’s composition of the purchase price. In the resolutions, the company’s shares were reduced by one million to 20 million common shares. In addition, cash consideration was increased by $2 million to $6 million. The terms of the 3 million warrants held by the vendors at a price of $1.50 per warrant were not altered.
According to a report by Deloitte, the cannabis industry in Canada is likely to reach $22.6 billion in the coming years with the retail market hitting $8.7 billion. There are only 43 producers who have been by Health Canada which creates a big market for INVICTUS MD STRATE COM NPV (OTCMKTS:IVITF) MD to exploit.
INVICTUS MD STRATE COM NPV (OTCMKTS:IVITF) is currently concentrated on expanding its production line that includes the AB Laboratories Inc which has been licensed under the ACMPR. AB Laboratories has done successful crop tests and is currently running at half capacity. The company expects to commence full production by end of May 2017. The company has also acquired several strains and are currently in talks to acquire several others for purposes of research and development.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.