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Invictus MD Strategies Corp (OTCMKTS:IVITF) To Hike Investment In AB Laboratories

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Invictus MD Strategies Corp (OTCMKTS:IVITF) has entered into a Letter of Intent to make an additional strategic investment in the approved production center under the “ACMPR”, AB Laboratories Inc. based near Hamilton, from its prevailing 33.3% ownership stake to 50%. In addition, the firm is delighted to report that AB Labs has obtained the amendment to sell dried pot under the ACMPR.

The details

AB Labs has now obtained its Sales License to offer dried pot under the ACMPR. It has 130 kilograms of dried pot in its vault and plans to sell 100% of this stock in this month to Canopy Growth Corp commencing its first revenue stream since start. Dan Kriznic, the CEO and Chairman, expressed that this is a considerable milestone for Invictus. They started this firm in 2014 with the objective of becoming Cannabis Company of Canada.

AB Labs produces premium quality strains, which will fulfill the growing demand in the Canadian market. They also anticipate to get a sales certificate for Acreage Pharms Ltd. within Q1 2018. The terms of the LOI comprise a cash investment in AB for $10 million to be utilized for its expansion of current facility, acquisition of the building and land at the current center from the landlord and for the deal of an adjacent property and building counting retrofitting expenses towards the current building on the adjacent asset, for a combined production area of around 56,000 square feet.

Invictus will make accessible to AB Labs a line of credit worth $2 million in the event costs surpass budget during the building period. The deal is subject to different conditions including nod of company’s board and satisfactory closure of due diligence. There exists no assurance that the deal contemplated by the deal will complete.

In the last trading session, the stock price of Invictus declined more than 5% to close the day at $1.75.

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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