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
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. 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.