Invictus MD announces binding LOI to acquire 100% of a Late Stage Applicant under Health Canada's ACMPR
VANCOUVER, BC, February 7, 2017 - INVICTUS MD STRATEGIES CORP. ("Invictus MD" or the "Company") (CSE: IMH; OTC: IVITF; FRA: 8IS) is pleased to announce that on February 6, 2017 it had entered into a binding letter of intent (" LOI ") for an option to acquire 100% (the " Option ") of the outstanding shares of a Late Stage Applicant (the " OptionCo ") under the Access to Cannabis for Medical Purposes Regulations (" ACMPR ") from its current shareholders (the " Vendors "). In early January 2017, OptionCo had its Pre-license inspection from Health Canada and expects to receive a license to cultivate under the ACMPR in short order.
OptionCo has built 60,000 square feet of secured perimeter for its current production facility located on 150 acres (the " Property "), which is expected to have production capacity of up to 6,000 kg per annum. OptionCo has already submitted plans for additional buildings on the Property including a 30,000 square foot facility. Assuming OptionCo receives the requisite regulatory approval to cultivate, OptionCo has future expansion plans on the 150 acre Property to establish itself as a leader in the Canadian cannabis industry.
- Published: 07 February 2017
- Written by Editor