Up Cannabis Completes Historic First Shipment of Adult-Use Cannabis
Shipment Marks Company Milestone in the Lead Up to Cannabis Legalization
TORONTO, Sept. 18, 2018 /CNW/ - Newstrike Brands Ltd. (TSX-V:HIP) ("Newstrike"), is pleased to announce its wholly-owned subsidiary Up Cannabis Inc. ("Up Cannabis"), in a historic company milestone, has completed its first shipment of adult-use cannabis as it ramps up production leading up to legalization on Oct. 17.
"With one month to go before adult-use cannabis becomes legalized nationally, our team has worked tirelessly to ensure that our production schedule and provincial shipments remain on-track," said Jay Wilgar, CEO of Newstrike and Up Cannabis. "I am extremely proud of the work our team has put into executing on our plans and look forward to expanding our shipments as we approach legalization and beyond."
Up Cannabis has worked to begin building distribution networks with five provinces to date. The company was last 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
Forward-Looking Information
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SOURCE Newstrike Brands Ltd.
Newstrike Investor Relations, 1-877-541-9151, [email protected]; Jason Redman, Chief Financial Officer, (905) 844-8866
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