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Micster1on Jan 05, 2018 9:33am
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Fantastic News. All aboard UP UP UP
Fantastic News. All aboard UP UP UP PRESS RELEASE FROM MARKETWIRE
Newstrike's Up Cannabis Inc. Receives Health Canada Approval For Amendment To Its Producer's License For Sales
Major milestone achieved on path to supplying adult-use cannabis market
Friday, January 05, 2018
Newstrike's Up Cannabis Inc. Receives Health Canada Approval for Amendment to its Producer's License for Sales
09:10 EST Friday, January 05, 2018
TORONTO, ONTARIO--(Marketwired - Jan. 5, 2018) - Newstrike Resources Ltd. (TSX VENTURE:HIP) ("Newstrike" or the "Company") is pleased to announce that Health Canada has approved the application by Newstrike's wholly-owned subsidiary, Up Cannabis Inc. ("Up Cannabis") to amend its license, thereby allowing Up Cannabis to sell cannabis in dried marijuana form, in accordance with Access to Cannabis for Medical Purposes Regulations.
"We are delighted to have achieved this major strategic milestone in our growth strategy," said Jay Wilgar, CEO of Newstrike and Up Cannabis. "We already have a significant inventory in place, a supply agreement with CanniMed, and a unique marketing strategy being developed with our creative partners, The Tragically Hip. Up Cannabis is extremely well-positioned to succeed and very excited to launch when the adult-use market opens in the coming months."
"We have been confident throughout our process that we would receive the regulatory approvals we require to access the exciting opportunities that Canada's adult-use cannabis market will present," continued Mr. Wilgar. "Our team has worked diligently to obtain the necessary regulatory approvals and to position Up Cannabis for success well in advance of the retail market opening later this year. With this approval in hand, we have all of the key strategic elements in place to move forward successfully."
About Newstrike and Up Cannabis