After a Banner Year of Strategic Moves, Invictus is Shaping Itself to be a Powerhouse in Western Canada
As the cannabis market unfolds in 2019, Invictus MD Strategies Corp. ( (IVITF[OTO] – $0.80 )/ (GENE:CA[CDX] – $1.05 0.12 (10.26%) )). has laid out an ambitious plan for this seminal year in the sector. The company has steadily made strategic moves that are setting the stage for it to become a prominent seller in Western Canada, along with stakes in the most advanced European marketplace: Germany.
The company’s new CEO George E. Kveton, who himself comes from the world of big tobacco by way of Philip Morris International (PM), has characterized Invictus’ recent growth as “conservative expansion”—an accurate description, as the company has methodically striven to build a vertically-integrated business model.
Back in 2017, when only a few cannabis companies in Canada were getting their operations in order, Invictus was already paying dividends to shareholders thanks to an early investment in hydroponic systems. Balance and financial acumen have been trademarks of the company, contributing to a milestone year in 2018. The company kicked off last year by delivering dried cannabis flower to Canopy Growth Corp. (WEED:CA[TSX] – $56.97 1.29 (2.32%) ) for its Craftgrow line. By May, the company had brought Rock and Roll legend Gene Simmons aboard as Chief Evangelist Officer, and Invictus’ wholly-owned subsidiary Acreage Pharms received its sales license under the Access to Cannabis for Medical Purposes Regulations (ACMPR).
Moreover, one of the most exciting developments for Invictus last year was the stronghold it built in Western Canada for both recreational and medical-use cannabis supply. Between July and September, Acreage Pharms inked recreational supply agreements with the British Columbia Liquor Distribution Branch and the Alberta Gaming and Liquor Commission ahead of the commencement of legalization in October. In addition, the company was accepted as a supplier with the Saskatchewan Liquor and Gaming Authority.
On the medical-use side, in late October, the company bought 100% of Alberta-based Leaf Wise and gained access to its 3,400 patients registered under the ACMPR. Typically, medical cannabis supply sales have high profit margins, but this move by Invictus opens the door for medical distribution across Alberta and initiated an important rapport with patients.
However, these momentous developments are only a few of the ways Invictus has cemented a forward-looking position in the Canadian cannabis market.