TORONTO, Dec. 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 received initial purchase orders
from PEI Cannabis Management Corporation (PEICMC) for adult-use
cannabis products.
"We are increasing the availability of Up Cannabis products from
coast to coast," said Jay Wilgar,
CEO of both Newstrike and Up Cannabis. "We are thrilled to announce
this agreement with PEI Cannabis and look forward to building a
long-term partnership by providing high quality, safe and reliable
products to their adult-use consumers."
Prince Edward Island becomes
the sixth Canadian province with which Up Cannabis has announced
agreements. Up Cannabis has also formalized supply agreements with
the Nova Scotia Liquor Corporation (NSLC), Ontario Cannabis Store
(OCS) and the Alberta Gaming, Liquor & Cannabis Commission
(AGLC). The company also has a signed Memorandum of Understanding
with the British Columbia Liquor Distribution (BCLDB) as well as
having been cleared as a supplier to the Saskatchewan Liquor &
Gaming Authority (SLGA).
With agreements in place with six provincial distributors, Up
Cannabis continues to operate in an elite group of Licensed
Producers. Health Canada has
issued licenses to more than 100 entities under the Cannabis Act,
and Up Cannabis is one of only eight with provincial agreements in
at least six provinces.
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 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.