TORONTO, Sept. 11, 2018 /CNW/ - Newstrike Brands Ltd. (TSX-V:HIP) ("Newstrike" or the "Company"), is pleased to announce that it has been approved for graduation from Tier 2 to Tier 1 issuer status on the TSX Venture Exchange (the "TSXV").
"Advancing to a Tier 1 listing on the TSXV reflects Newstrike's continued progress and development as a company with Canada's legalized adult-use cannabis market fast approaching," said Jay Wilgar, Chief Executive Officer and Chairman of Newstrike. "We're excited to reach this listing milestone and we look forward to others as we execute our strategy to build Up Cannabis as a premier adult-use cannabis brand across Canada."
The TSXV classifies issuers into different tiers based on standards including historical financial performance, stage of development and financial resources. Tier 1 is the TSXV's premier tier and is reserved for the TSXV's most advanced issuers.
About Newstrike and Up Cannabis
Newstrike is the parent company of Up Cannabis, 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
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", "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.
For further information: Investor Relations, Telephone: (416) 283-9930, Email: [email protected]; Jason Redman, Chief Financial Officer, (905) 844-8866