TORONTO, Sept. 14, 2018 /CNW/ - Newstrike Brands Ltd. (TSX-V: HIP) ("Newstrike"), is pleased to announce its wholly-owned subsidiary Up Cannabis Inc. ("Up Cannabis"), has been issued an amended licence from Health Canada to sell cannabis in dried marijuana form produced at its facility in Brantford, ON, from its facility in Niagara, ON, in accordance with Access to Cannabis for Medical Purposes Regulations.
"This amended licence from Health Canada is an important step that allows us to take the hand-crafted product from our Brantford Facility and marry it with the innovative and automated packaging solutions located at our flagship Niagara Facility," said Jay Wilgar, CEO of Newstrike and Up Cannabis. "As a result, we expect Up Cannabis branded product to be available in at least five provinces, and we look forward to achieving future milestones as we continue to execute against our four strategic pillars: production, brand, distribution and innovation."
Up Cannabis was earlier this 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
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.
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SOURCE Newstrike Brands Ltd.
For further information: Newstrike Investor Relations, 1-877-541-9151, [email protected]; Jason Redman, Chief Financial Officer, (905) 844-8866