24
AB VENTURES – Sister Company to AB Laboratories
In addition to the AB Laboratories acquisition, AB Ventures is a newly incorporated company that plans to acquire and develop 100 acres in Hamilton, Ont., for cannabis cultivation and sale under the ACMPR. Invictus has committed $7.5M to finance the costs of licensing approval under the ACMPR, acquiring land and constructing the cultivation facility, in exchange for a 33.33% interest in AB Ventures. The company advanced an initial $2M at closing into escrow to be deployed primarily for the purchase of the land.
WASHINGTON STATE I502
Invictus inked a deal with Cannera Equipment Leasing (CEL) (cannera.com), in which Cannera provides equipment, assets and tenant improvement financing for Pacific Coast Farms (PFC) in the form of debt. PFC currently has a cultivation and processing license. Cannera has an option to sell, assign, or obtain a 20% stake equity in PCF (which must be subject to the Washington Liquor Control Board approval). Cannera also has the right of first refusal on any future capital raises, share sales and IPO. The facility is 18,000 sq feet and is currently in the final stages of construction.