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Invictus MD Strategies Corp. (OTCMKTS:IVITF) Moves South On The Chart

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In the last trading session, the stock price of Invictus MD Strategies Corp. (OTCMKTS:IVITF) declined more than 8% to close the day at $1.67. The decline came at a share volume of 554,042 compared to average share volume of 460,794. Post the recent decline, the market cap of firm was noted at $144.81 million.

The buzz

Invictus’ finalization of the definitive deal to increase investment in the approved production facility AB Labs records another important achievement for company as Canada moves within 6 months of the projected full adult-use decriminalization of cannabis. AB Labs obtained the amendment to offer dried pot under the ACMPR earlier this month.

Invictus reported that the terms of the definitive deal comprise a cash investment of $10 million in AB Labs that will be utilized for the expansion of AB Labs’ current facility, land acquisition and building at the current facility from the landlord and for the deal of an adjacent building and land including retrofitting expenses towards the existing structure on the adjacent property for a combined production area of around 56,000 square feet. Invictus will make available line of credit worth $2 million to AB Labs in case costs surpass budget over the course of construction period.

Invictus also projects Acreage Pharms Ltd. to get its sales license in Q1 2018 as it has already reaped several successful crops and item has already been evaluated. The filing of another license application by AB Ventures Ltd. to Health Canada, and AB Ventures’ development license on the 100 acres of property for the initial Phase I construction that is entirely funded, signals another major milestone as Invictus continues to build out substantial kilogram capacity for the projected international and domestic demand. The increase of their stake in AB Labs and the changes to the Secondary Facility will considerably advance their timeline for increasing their projected annual run-rate production capacity.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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