Invictus MD Provides Corporate Update On Acreage Pharms Ltd.

Invictus MD Provides Corporate Update On Acreage Pharms Ltd.

Canadian cannabis stocks have been under pressure recently and many investors have moved to the sidelines while they wait for new opportunities to emerge.

The legal cannabis industry is the fastest growing industry in the world and this growth cycle is just getting started. From Brazil to Germany, new medical marijuana markets continue to open and develop.

These emerging markets represent major opportunities for Canadian licensed medical marijuana producers and these companies are working tirelessly on increasing production capacity to satisfy a significant increase in demand, domestically and aboard.

An Emerging Opportunity

One company focused on capitalizing on this opportunity is Invictus MD Strategies (IMH.V) (IVITF) and today, the licensed medical marijuana producer released an important update pertaining to this opportunity.

Earlier this month, the company’s Acreage Pharms subsidiary completed its first two successful harvests and expects two more harvests to take place the first week of September.

Acreage Pharms CEO Trevor Dixon said the yields from the first two harvests exceeded expectations and the next two will use the entire grow space, which will maximize yields and generate sufficient data to determine anticipated annual production rates.

Dixon also said that Acreage Pharms will be in a position to receive its sales license once the QA team has analyzed the results of the third-party lab tests.

Expansion is On-Track and On-Budget

Invictus is focused on increasing production capacity and expanding its reach. Today, the company reported to have made significant progress with its Phase 2 expansion and said that construction on the 27,800-square-foot production facility should be completed by the end of January.

The company has not only executed quickly but it also has been very efficient. Invictus reported the costs associated with the Phase 2 expansion are expected to fall within the initial $6 million budget.

Invictus has learned a lot from its previous expansion projects and production improvements. The company has used the knowledge gained to make further improvements from what it learned during Phase 1.

Based on these improvements, Invictus expects the new facility to produce up to 4,200 kilograms annually. This is significant and would result in an 800% increase in production capacity when compared to the existing production facility.