12 Sep, 2018, 07:00 ET
Saskatchewan is the 5th Canadian province for Up Cannabis Adult-Use Market Distribution
TORONTO, Sept. 12, 2018 /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 notified by the Saskatchewan Liquor & Gaming Authority ("SLGA") that it has been cleared as a supplier of cannabis to Saskatchewan Retail and Wholesale Permit Holders once registered on October 17, 2018.
"Up Cannabis is very pleased to be supplying the Saskatchewan market," said Jay Wilgar, CEO of both Newstrike and Up Cannabis. "To be selected by the SLGA marks yet another major milestone and achievement in our strategy to make Up Cannabis a premier adult-use cannabis brand. We are proud and honored to have a presence there upon the legalization of cannabis."
The SLGA has granted a total of 51 retail permits throughout Saskatchewan, who will also be able to independently offer online sales. Up Cannabis has been cleared to supply both retail and wholesale permit holders throughout the province.
Saskatchewan becomes the fifth Canadian province to which Up Cannabis will supply cannabis. Up Cannabis has also been selected to supply cannabis to the Nova Scotia Liquor Corporation and 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 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 legalization, supply and sales of cannabis and the finalization of permits. 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]; Jason Redman, CFO, 1-905-844-8866
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