Invictus (TSXV:GENE, OTCQX: IVITF; FRA: 8IS2) the Company is pleased to announce the appointment of Trevor Dixon as a Director and Chief Operating Officer of the Company effective immediately. Mr. Dixon is the founder, President and Chief Executive Officer of the Company’s wholly owned subsidiary Acreage Pharms Ltd. (“Acreage Pharms”).
“Mr. Dixon brings 35 years of successful business experience to the leadership team of Invictus,” said George E. Kveton, CEO of Invictus. “Trevor will continue to hold his current positions within Acreage Pharms,” continued Mr. Kveton.
Mr. Dixon stated that, “moving forward, it is my intention to create synergy with all of the Invictus companies and to continue to grow and further increase the Company’s production and sales.”
Mr. Dixon advised that “Phase I and II at the Acreage Pharms facilities, located near Edson, Alberta, are in full production utilizing all eleven flowering rooms for growing both medical and recreational cannabis. Acreage Pharms continues to increase its bottled cannabis oil inventory while it awaits approval of its oil sales license in accordance with Health Canada’s Cannabis Act and Cannabis Regulations. The Company eagerly awaits Acreage Pharms entering into production in its Phase III, 90,000 square foot, state of the art facility when the anticipated license amendment is awarded by Health Canada, which is expected in the fall of this year.”
Acreage Pharms obtained a Health Canada license to produce, grow and harvest medical cannabis on March 29, 2017and received its sales license on May 18, 2018. Acreage Pharms continues to accept patients and retail orders for cannabis. Effective August 3, 2018, Health Canada amended Acreage Pharms license to include the production of cannabis oil and cannabis resin.
On Behalf of the Board,
George E. Kveton
Chief Executive Officer and Director
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.
Acreage Pharms Ltd. has designed and is building the Phase 3, purpose-built cultivation facility, to meet all European Union Good Manufacturing Practices to facilitate international medical cannabis sales.
The Company is targeting 50 percent of its production for medical cannabis nationally and internationally. 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 receive approval for from Health Canada to amend their license to allow for the sale of cannabis oil is a forward-looking statement and contains 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 application to Health Canada for an amendment to their license will be successful and Acreage Pharms will receive approval for from Health Canada to amend their license to allow for the sale of cannabis oil. 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 receive approval for from Health Canada to amend their license to allow for the sale of cannabis oil. 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.
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