Acquisition

Invictus Closes 100% Acquisition of Canandia for $29.4 Million

By November 18, 2018 No Comments
Invictus MD Strategies Corp. (OTCQX: IVITF) announced on November 16th that it has closed its previously announced acquisition agreement with 0989561 B.C. Ltd. (Canandia). Invictus Strategies, through this acquisition, now has a third cannabis cultivation licenses from Health Canada.
The company also gained two large properties with cannabis cultivation facilities. The first property, Delta Facility, contains a cultivation facility, production room, and a research facility that recently was licensed through the Cannabis Act. The second property, Mission Location, contains 32 acres of land that buildings and structures can be built upon and is able to expand to 1 million sq. ft. of production capacity.
Invictus, with the close of this recent acquisition, now has a licensed cannabis producer in Alberta, British Columbia, and Ontario, which is in-line with the company’s expansion plan to meet the demand of local and international consumers. Chief Executive Officer of Invictus, George Kveton, stated, “We are continuing to expand our cultivation footprint to strengthen our ability to control a steady supply of cannabis to medical and recreational markets, both at home and abroad”.
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