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.
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 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.