TORONTO, Jan. 8, 2019 /CNW/ - Newstrike Brands Ltd. (TSX-V:HIP) ("Newstrike" or the "Company"), is pleased to announce that its wholly-owned subsidiary, Up Cannabis Inc. ("Up Cannabis"), has been accepted by the Manitoba Liquor and Lotteries Corporation ("MBLL"), as an official supplier of non-medical adult-use cannabis to the province's licensed private sector retailers.
"We are very proud to say that, with this agreement in place, we continue to build a best-in-class distribution network for Up Cannabis products from coast to coast," said Jay Wilgar, CEO of both Newstrike and Up Cannabis. "We are thrilled to announce this relationship with Manitoba Liquor and Lotteries, and look forward to building a long-term partnership by providing high quality, safe and reliable products to adult-use consumers in Manitoba."
Manitoba is the seventh Canadian province with which Up Cannabis has announced distribution. The Company recently announced an agreement with the Prince Edward Island Cannabis Management Corporation, and has also formalized supply agreements with the Nova Scotia Liquor Corporation, 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 seven provincial distributors, Up Cannabis operates within an elite group of Licensed Producers. Health Canada has issued licences to more than 100 entities under the Cannabis Act, and Up Cannabis is one of only seven with provincial agreements in at least seven 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
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. 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 Up Cannabis
For further information: Newstrike Investor Relations: 1-877-541-9151, [email protected]; Jay Wilgar, CEO, Newstrike Brands, (905) 844-8866