Invictus  MD Strategies Corp. (CSE: IMH; OTC: IVITF; FRA: 8IS) is pleased to announce that AB Ventures Inc. (“AB Ventures”), a newly incorporated company formed to develop a second licensed expansion facility through it’s common ownership with AB Laboratories Inc. (“AB Labs”), a Licensed Producer under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”), has acquired 100 acres in Hamilton, Ontario, for cannabis cultivation and sale under the ACMPR.
The land acquisition, worth $1,650,000 CDN, is scheduled to close on May 1, 2017 and will be used for future cannabis cultivation once licensed under the ACMPR. Plans to construct five production facilities on the new land totaling 100,000 square feet will be completed by 2019. AB Labs is licensed for cultivation under the ACMPR and maintains a 16,000 square foot facility located in Hamilton, Ontario.
AB Ventures plans to initially construct 42,000 square feet using the $5.5 million committed from Invictus MD. The entire 100 acres will be available for future expansion. Deloitte, a well- respected consulting company, recently published a survey that suggested the Canadian retail cannabis market would be worth between $4.9 billion and $8.7 billion annually. Additionally, the market for marijuana products and services – including growers, testing labs, lighting, and security systems – would increase that number to between $12.7 billion and $22.6 billion. Once taxes, licensing fees, and weed-related tourism are factored in, the market could be even greater than $22.6 billion. The consulting firm further estimates that satisfying the recreational cannabis market will mean producing 600,000 kilograms of marijuana annually – far more than the existing 38 licensed producers grow for medicinal purposes.
Dan Kriznic, Chairman and CEO of Invictus MD, commented, “This is a tremendous milestone for Invictus-MD and its shareholders. Breaking ground into the ACMPR has always been our intention since inception of our Company in December 2014.” “Once the option to acquire a 100% interest in OptionCo announced on February 7, 2017 is exercised for 150 acres that has already been pre license inspected by Health Canada, along with the previously acquired interest in AB Laboratories, a licensed producer under the ACMPR and the increased expansion plan on 100 acres with AB Ventures, Invictus MD will have significant land holdings for cannabis cultivation in Canada to meet the projected demand. From early on, Invictus MD has viewed acquiring production capacity under the ACMPR as a key driver to increasing shareholder value”, said Kriznic.
Click here to learn more about Invictus  MD Strategies Corp. (CSE: IMH; OTC: IVITF; FRA: 8IS)
 

American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.

Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.

Keep reading... Show less

An Emerging Markets Sponsored Commentary

Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.

Keep reading... Show less

As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.

A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.

Keep reading... Show less

The product will include polyphenols known to have significant health benefits.

BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.

Keep reading... Show less

Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.

The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).

Keep reading... Show less