Invictus Signs LOI For Cannabis Sales into Germany
VANCOUVER, June 19, 2018 /PRNewswire/ – INVICTUS MD STRATEGIES CORP. (“Invictus” or the “Company”) (TSXV: GENE; OTC: IVITF; FRA: 8IS1) is pleased to announce it has signed a non-binding Letter of Intent (“LOI”), executed on June 13, 2018, to sell dried cannabis to a German importer and distributor of medical cannabis (the “Importer”). The Company will initially commit to selling 1,000 kgs of dried cannabis flower per annum at a price of $6.50 per gram. The volumes and respective prices of dried cannabis flower for the second and consecutive years will be defined in a Definitive Offtake Agreement (the “Offtake Agreement”).
The Importer, whose name will remain undisclosed until execution of the Offtake Agreement, combines a highly competitive business model with a vast distribution network of 20,000 pharmacies and a clear focus on product marketing and professional education. The Importer’s experienced management team previously led an international joint venture successfully to the final stage of the German tender for domestic cannabis production and unites the expertise of medical professionals, experts in pharmaceutical regulatory law as well as experienced entrepreneurs. This unique combination will serve to ensure the secure and reliable import and distribution of Invictus’ products to the exponentially growing market in Germany and Europe.
Prior to any shipment of dried cannabis flower to the German market Invictus must first obtain an export permit from Health Canada as well as a Good Manufacturing Practice (“GMP”) certification, in accordance with the rules governing medicinal products in the European Union. The EU-GMP certification is a requirement to distribute medical cannabis to Germany and across the European Union. The Importer must also obtain an import permit.
Independent from the Offtake Agreement, the Company and the Importer will also explore obtaining a cultivation license in Germany.
We continue to explore opportunities for sales and distribution beyond our nation’s borders to countries, like Germany, that welcome legalized medical cannabis products. These new relationships will diversify our operations and further allow us to become Canada’s Cannabis Company, and beyond.
Dan Kriznic, Founder and CEO
Invictus owns and operates two cannabis production facilities, both with sales licenses, under the ACMPR in Canada, with the vision of producing a variety of high quality and low-cost cannabis products to the global market, as regulations permit. The Company’s wholly owned subsidiary, Acreage Pharms Ltd. (“Acreage Pharms”), is located in West-Central Alberta. The Company’s 50% owned AB Laboratories Inc. (“AB Labs”), is located in Hamilton, Ontario. AB Ventures Inc. (“AB Ventures”) owns 100 acres of land near Hamilton, Ontario, to be used for future cannabis cultivation. Recently, the Company announced that it has entered into a binding letter of intent for an option to acquire an applicant (the “OptionCo”) under the ACMPR. Combined, the Company expects to have approximately 332,000 and 822,000 square feet of cannabis production capacity by the end of 2018 and 2019, respectively.
Gene Simmons, music legend and media mogul, conveys the vision of Invictus as the Chief Evangelist Officer.
The Company’s wholly owned subsidiary, Poda Technologies Ltd. (“Poda”), has developed the world’s first zero-cleaning vaporizer system. Poda’s fully biodegradable pods are self-contained, and do not contaminate the vaporizer with odor, flavor or residue.
Finally, the Company’s 82.5% owned Future Harvest Development Ltd. (“Future Harvest”) is a high-quality Fertilizer and Nutrients manufacturer, based in Kelowna, British Columbia. Future Harvest has been in operation for over 20 years under the brand Plant Life Products and Holland Secret.
Invictus’ Canadian Production Footprint:
For more information, please visit www.invictus-md.com.