Shipment Marks Company Milestone in the Lead
Up to Cannabis Legalization
TORONTO, Sept. 18, 2018 /CNW/ - Newstrike Brands
Ltd. (TSX-V:HIP) ("Newstrike"), is pleased
to announce its wholly-owned subsidiary Up Cannabis Inc. ("Up
Cannabis"), in a historic company milestone, has completed its
first shipment of adult-use cannabis as it ramps up production
leading up to legalization on Oct.
17.
"With one month to go before adult-use cannabis becomes
legalized nationally, our team has worked tirelessly to ensure that
our production schedule and provincial shipments remain on-track,"
said Jay Wilgar, CEO of Newstrike
and Up Cannabis. "I am extremely proud of the work our team has put
into executing on our plans and look forward to expanding our
shipments as we approach legalization and beyond."
Up Cannabis has worked to begin building distribution networks
with five provinces to date. The company was last week cleared as a
supplier of cannabis to Saskatchewan Retail and Wholesale Permit
Holders once registered on October 17,
2018. Up Cannabis has also been selected to supply cannabis
to the Nova Scotia Liquor Corporation and has formalized supply
agreements with the Ontario Cannabis Store, and the Alberta Gaming,
Liquor & Cannabis Commission, in addition to having a signed
Memorandum of Understanding with the British Columbia Liquor
Distribution.
About Newstrike and Up Cannabis
Newstrike is the parent company of Up Cannabis Inc., a licenced
producer of cannabis that is licenced to both cultivate and sell
cannabis in all acceptable forms. Newstrike, through Up Cannabis
and together with select strategic partners, including Canada's iconic musicians The Tragically Hip,
is developing a diverse network of high quality cannabis brands.
For more information, visit http://www.up.ca or
http://www.newstrike.ca
Forward-Looking Information
This news release contains forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Newstrike to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Often, but not always,
forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "is expected",
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"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved. Accordingly, readers
should not place undue reliance on the forward-looking statements
and information contained in this press release. Since
forward-looking statements and information address future events
and conditions, by their very nature they involve inherent risks
and uncertainties. Actual results could differ materially from
those currently anticipated due to a number of factors and risks.
Readers are cautioned that the foregoing list of factors is not
exhaustive. The forward-looking statements contained in this news
release are made as of the date of this release and, accordingly,
are subject to change after such date. Newstrike does not assume
any obligation to update or revise any forward-looking statements,
whether written or oral, that may be made from time to time by us
or on our behalf, except as required by applicable law.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Newstrike Brands Ltd.