INVICTUS MD STRATEGIES CORP. (TSXV: IMH) (OTC: IVITF) announced that construction of the Phase 2 development, a purpose built, multiple room production facility, is well underway at its wholly owned subsidiary, Acreage Pharms Ltd. , a licensed producer under the Access to Cannabis for Medical Purposes Regulations.
The foundation for the Phase 2 facility has been poured and the exterior is expected to be completed by the first part of November 2017. By the end of January 2018, the interior fit-out is expected.
While the facility was originally planned for 27,800 square feet, utilizing best practices learned from previous developments, the design was optimized to increase it to 32,000 square feet. The additional space will provide added capacity to accommodate administrative and production staff. The new facility will house nine, 1,600 square foot flowering rooms, maximizing available floor space and allowing for a fully controlled and optimized environment facilitating a harvest every two weeks and enabling the grow teams to complete all their procedures in the same day. Additionally, a second level 8 vault will be constructed giving Acreage Pharms the ability to store some $60 million of cannabis product at a given time.
The capital costs of constructing the Phase 2 facility continue to remain within the $6 million that was initially budgeted.
credit:420intel.com
