TORONTO, Aug. 24, 2018 /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 been selected by the Nova Scotia Liquor Corporation ("NSLC") as one of fourteen licensed producers who have received initial purchase orders for adult-use cannabis.
"We are very excited to announce this partnership with the NSLC," said Jay Wilgar, CEO of both Newstrike and Up Cannabis. "Being among the select group of licensed producers who will supply cannabis to the Nova Scotia marketplace is a privilege, and we look forward to helping the NSLC achieve its goals of providing safe, reliable product to adult-use consumers."
The NSLC intends to sell adult-use cannabis in a dozen retail stores throughout the province and provide online sales.1
Up Cannabis is now positioned to offer its products from coast-to-coast as Nova Scotia is the fourth Canadian province to announce distribution of its adult-use cannabis. Up Cannabis has, as previously announced, formalized supply agreements with the Ontario Cannabis Store and the Alberta Gaming, Liquor & Cannabis Commission and has signed a Memorandum of Understanding with the British Columbia Liquor Distribution.
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 legalization, supply and sales of cannabis. 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: Newstrike Investor Relations, 1-877-541-9151, [email protected]