Shares of Invictus MD Strategies Corp. (TSXV:GENE) have been singing a sweet tune since appointing KISS co-founder Gene Simmons as its Chief Evangelist Officer
SmallCapPower | March 28, 2018: Invictus MD Strategies Corp. (TSXV:GENE), based in Vancouver, announced on Monday that its wholly-owned subsidiary, Acreage Pharms, has undergone physical on-site sales license inspection by Health Canada, which is now completing its assessment report. As Acreage Pharms is strongly committed to adherence of regulatory guidelines and requirements, Invictus MD Strategies is confident about acquiring its sales license.
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Invictus Chairman and CEO Dan Kriznic said, “All of the hard work that goes into building innovative, safe, and long-lasting facilities for cannabis production revolves around smart, demanding requirements crafted by Health Canada officials. We value the sturdy guidelines laid-out by Federal officials and consider regulatory compliance one of our most important business-building responsibilities. We look forward to continuing to work with officials as they oversee and examine our progress. Creating a successful cannabis company in this increasingly competitive environment requires a number of corporate strengths, including efficient project management. Building these facilities involves the coordination of a wide range of factors, from understanding and implementing regulatory demands to working closely with professional teams from a diversity of disciplines — framing, electrical, plumbing, HVAC, security and much more. The process is multi-faceted, always in flux and complex.”
Meanwhile Acreage Pharms, located in west-central Alberta, is installing cooling and environmental systems all over its Phase 2 facility, which will have 39,600 square feet for marijuana production. Invictus MD Strategies expects its first five grow rooms to be equipped for cannabis production within a week. Furthermore, the Phase 2 security system is currently being installed and should be completed by the first week of April this year. Additionally, land for Acreage Pharms’ Phase 3 facility is being cleared in order to prepare for construction. The road leading to the future Phase 3 site is also being constructed.
At present, Acreage Pharms has two facilities, Phase 1 and Phase 2, which represent 40,000 square feet of cannabis-growing space. Once the Phase 3 site is constructed and operational, it will add another 80,000 square feet to the Company’s marijuana production space.
Invictus changed its TSX Venture ticker from ‘IMH’ to ‘GENE’ effective March 20, 2018. On March 14, 2018, Invictus MD announced the appointment of Gene Simmons, co-founder of the rock music group KISS, as its Chief Evangelist Officer.
The stock currently trades at a market capitalization of $165 million on the TSXV with a price-to-book multiple of 2.17x. After the announcement, the Company’s stock rose 8% to close at $2.15 on Monday. Over the past week, though, shares of Invictus MD Strategies have jumped 11% to its current price of $2.06.
Disclosure: Neither the author nor his family own shares in any of the company mentioned above.
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