Invictus MD Strategies (IMH.C) significantly increased its public market presence today when the company announced that it had received conditional approval to list on the TSX Venture Exchange.
This news comes in the wake of the company’s recent announcement that AB Laboratories, a licensed producer under the Access to Cannabis for Medical Purposes Regulations (ACMPR), had grown a series of successful test crops and was currently operating at half capacity with plans for operating at full capacity by the end of May 2017.
Also within the last year, Invictus MD Strategies announced that the 100-acre acquisition by AB Ventures, expected to close on May 1, 2017, once licensed under the ACMPR, will be used for expansion of future cannabis cultivation with plans for the construction of five production facilities totalling 100,000 square foot. That’s a lot of growing room. Sorry, couldn’t resist.
Invictus also closed the definitive option agreement to acquire 100% interest in an unnamed producer who has constructed a 6,800-square foot facility with a 30,000-square foot expansion plan floor plate, and an option to add a mezzanine within the 60,000-square foot secured perimeter on 150 acres of secured land.
The “OptionCo” went through its pre-license inspection from Health Canada in January and expects the license to cultivate under ACMPR to arrive in short order
In the past four months, Invictus has raised $28.2 million and the company currently has $15.5 million in the till after snapping up 33.33% of AB Laboratories and 100 acres for AB Ventures.
Moving up to the bigger boards is an important step for Invictus as Chairman and CEO, Dan Kriznic affirmed, “As one of the few cannabis producing companies in North America listed on a major exchange such as the TSXV, this move will enable us to engage a wider investor audience, along with strengthening the cannabis sector.”
FULL DISCLOSURE: Invictus MD Strategies is an EQUITY.GURU client.