Up Cannabis Adds New Brunswick as Eighth
Province for Distribution
TORONTO, March 25, 2019 /CNW/ - Newstrike Brands Ltd.
(TSX-V:HIP) ("Newstrike" or the "Company"), is
pleased to announce that Up Cannabis Inc. ("Up Cannabis"), its
wholly-owned subsidiary, has entered into an agreement with
Cannabis NB as a licensed producer to supply cannabis.
"We are very excited to announce this partnership with Cannabis
NB," said Jay Wilgar, CEO of both
Newstrike and Up Cannabis. "Being among the select group of
licensed producers that will supply cannabis to the New Brunswick marketplace is a privilege, and
we look forward to helping Cannabis NB achieve its goals of
providing safe, reliable product to adult-use consumers."
With this announcement, Up Cannabis becomes one of only eight
Licensed Producers that currently supplies Cannabis NB.
New Brunswick also marks the
eighth Canadian province with which Up Cannabis has announced
distribution. The company has also announced an arrangement with
the Manitoba Liquor and Lotteries Corporation as well as the Prince
Edward Island Cannabis Management Corporation. The Company has also
formalized agreements with the Nova Scotia Liquor Corporation, the
Ontario Cannabis Store and the Alberta Gaming, Liquor &
Cannabis Commission. The Company has a signed Memorandum of
Understanding with the British Columbia Liquor Distribution as well
as having been approved as a supplier to the Saskatchewan Liquor
& Gaming Authority.
With agreements in place with eight provincial distributors, Up
Cannabis continues to operate within an elite group of Licensed
Producers. Health Canada has
issued licenses to more than 100 entities under the Cannabis Act,
and Up Cannabis is one of only nine with provincial agreements in
at least eight provinces.
About Newstrike and Up Cannabis
Newstrike is the parent company of Up Cannabis Inc., a licensed
producer of cannabis that is licensed 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. These forward-looking
statements include, but are not limited to, statements relating to
Newstrike's expectations with respect to the supply, distribution
and sales of cannabis to Cannabis New Brunswick. 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", "estimates", "intends", "anticipates" or "does not
anticipate", or "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.