TORONTO, Aug. 13, 2018 /CNW/ - Newstrike Brands Ltd. (TSX-V:HIP) ("Newstrike" or the "Company"), is pleased to provide the following comments from Jay Wilgar, CEO of both Newstrike and its wholly-owned subsidiary, Up Cannabis, in response to the Ontario government's recent announcement regarding cannabis retail privatization.
"We welcome Ontario's move to implement a responsible, private retail model for cannabis sales and look forward to collaborating with government to provide the best path-to-purchase for adult-use cannabis consumers," Wilgar said.
"We believe that providing further retail options will increase the availability of safe, regulated product at competitive prices, which in turn will help eliminate the black market."
"We look forward to engaging the Ontario government on potential retail locations. Our first priority, however, will always be to ensure we provide adult-use consumers with a safe and reliable product," he added.
"Therefore, we also support the province's plans to ensure strict regulation of the retail environment, including maintaining control of wholesale, distribution and online sales, and strictly enforcing minimum age requirements for buyers."
With a definitive Supply Agreement in place with the Alberta Gaming, Liquor & Cannabis Commission (AGLC), along with a signed Memorandum of Understanding with the British Columbia Liquor Distribution (BCLDB), Up Cannabis is well positioned to provide Canadians with adult-use cannabis.
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. 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 action s, 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.
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