The marijuana rally continues, with shares of Invictus MD Strategies, Corp. (TSX-Venture:GENE) (OTCQX:IVITF) perking higher on news that its wholly-owned subsidiary, Acreage Pharms Ltd., has been granted conditional approval to become a registered supplier with the Saskatchewan Liquor and Gaming Authority once legislation is implemented on October 17.
In the interim, and subject to any federal restrictions, Acreage Pharms is eligible to supply product to authorized provincial wholesalers and retailers in advance of October 17.
Saskatchewan becomes the company’s third provincial agreement behind British Columbia and Alberta. Commenting on the announcement, Dan Kriznic CEO and Chairman for Invictus stated, "We can feel the momentum building ahead of legalization on October 17, 2018 and are actively seeking agreements with additional provinces to help ensure governments across Canada have enough supply to meet consumer demand."
Invictus is set to gain access to the retail market in Saskatchewan through an LOI with GTEC Holdings Ltd. (TSX-Venture:GTEC) that provides the Company with an opportunity to fill purchase orders that GTEC is seeking from third party licensed producers for the purposes of supporting GTECs distribution channels.
Invictus' product portfolio includes 69 Health Canada-approved strains that will be sold under four lifestyle-inspired cannabis brands for recreational users: Dukes, Zooey, Sterling & Hunt, and Sinister. Each brand has been crafted for a specific target audience and his or her lifestyle.
Shares of GENE are continuing a rally that began in mid-August with the stock climbing $0.07, or 3.91% at $1.86 in mid-afternoon trading.
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