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Medical Cannabis Clinics And Alberta Retail License To Be Acquired By Invictus


07/21/2018


Medical Cannabis Clinics And Alberta Retail License To Be Acquired By Invictus
 Alberta. Canada, based Clinic and Retail Co - a medical clinic and cannabis retail company would be acquired by Invictus MD Strategies Corp pending final review approval of the deal as well as issuance of a cannabis license by the Alberta Gaming and Liquor Commission, announced Invictus.
 
The business model of Clinic and Retail Co comprises of a clinics' patient-first philosophy and comprises of educators and physicians providing on-site to education to patients about the good effects of medical cannabis and the method in which they can access the medicine in Canada. For patients to start getting the product form the company, there are three easy steps which are patients visiting a physician or vice versa, getting support in the form of education about medical cannabis, and then registering themselves with a licensed producer.
 
under Access to Cannabis for Medical Purposes Regulations (ACMPR) clause, there are 3,400 patients that are registered with the cannabis clinic which would also open up a direct channel for them to gain access to Licensed Producers (LPs), fully licensed under ACMPR, from Invictus.
 
There are five distribution methods that are used by Invictus' multifaceted sales approach for cannabis. It includes distribution of medical cannabis via through business to customer sales according to permission from the ACMPR and supplying the product to the adult recreational market in Canada through sales agreements with government agencies. An example of this is a recently concluded Memorandum of Understanding with British Columbia. The company is also establishing its distribution network for medical cannabis outside of Canada with Germany being the first country in 2018.

Making use of LP to LP partnerships and coordinating with other LP's to make use of their distribution channels as is the case with the subsidiary company AB Laboratories Inc. and its partnership with Canopy Growth Corporation. The company is also distributing its products through retail stores in Western Canada and it has initially launched its flagship retail store recently that is expected to start operations after Clinic and Retail Co receives final licensing from the AGLC.
 
The acquisition of Clinic and Retail Co is expected to be closed by August 31, 2018. A management services agreement would be struck between the two executive officers of Clinic and Retail Co for operation of the day-to-day business activities of the retail business. The merged entity would also open more retail storefronts and expand operations. Capital investment worth $2,000,000 would be made by Invictus in the new entity for purposes of expansion of the existing medical clinic business and the construction of retail storefronts.
 
Dan Kriznic, Chairman and CEO said: "The industry is now shifting to a focus on brands and distribution. There are talks of a shortage of supply during the first 18 months after Canada legalizes cannabis recreationally and we are fortunate to have approximately 100,000 square feet of production space with an additional 100,000 square feet by the end of 2018 ready for this demand. We have started down the path with the Authentic Brands Group with regards to our overall medical and lifestyle brands, which we will be launching in the coming weeks and months."
 
(Source:www.prnewswire.com)