Newstrike Board Enhanced by Addition of Stephen A. Smith, CPA, CA
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Source: Newstrike Resources Ltd.
- new Lead Director brings audit & governance expertise complemented by an unparalleled career in consumer packaged goods, hospitality/food service, retail and branding sectors -
TORONTO, April 30, 2018 (GLOBE NEWSWIRE) -- Newstrike Resources Ltd. (TSX-V:HIP) ("Newstrike" or the "Company”) announced today that it is pleased to welcome Stephen A. Smith CPA, CA to its Board of Directors. Mr. Smith is expected to serve as Lead Director and Chair of Newstrike’s Audit Committee.
“I want to warmly welcome Stephen to our Board and our Company,” said Newstrike CEO Jay Wilgar. “Stephen brings a wealth of Board-level perspective and sector-specific operational experience that is unparalleled and will be invaluable to our Board, Management team and shareholders as we enter a critical phase of our growth strategy with the pending opening of the Canadian market for adult-use recreational cannabis,” added Wilgar.
Mr. Smith served on the Board of Directors, Audit Committee and the Executive Committee for CST Brands (recently acquired by Couche-Tard), was recently an Advisory Board member of Jackman Reinvention Inc., a brand strategy consultancy in Toronto and is a member of the Board, and Chair of the Finance1 and Audit Committee, for the Metro Toronto Convention Centre. His Executive experience includes serving as an Executive Vice President with the Loblaw Companies Ltd. and CFO, later Co-CEO of Cara Operations Ltd.
As part consideration for consenting to serve as a director, Newstrike issued Mr. Smith 1,000,000 options with an exercise price of $1.02 and a term of 3 years in accordance with the terms of Newstrike’s option plan.
Mr. Smith succeeds Scott M. Kelly, who has resigned as Executive Chair and stepped down from the Board. Jay Wilgar, has accepted the role of Board Chair on an interim basis. Mr. Kelly’s departure and the appointment of Mr. Smith are the latest steps in a well-coordinated succession plan developed by Newstrike’s Board to enhance both the Board itself and Newstrike’s Management team as the Company prepares to participate successfully in the opening of the Canadian market for adult-use cannabis.
“Scott Kelly was instrumental in building this company into what it is today: a strong and focused company with a very bright future,” said Mr. Wilgar. “On behalf of the Board of Directors, the Management team and everyone at Newstrike and Up Cannabis, I would like to express our gratitude to Scott for his unwavering commitment to the Company, his guidance, and his many contributions to our success. Scott is stepping off the Board, but he is not stepping away, he will continue to provide counsel to me personally, the Board and the Company as a whole, as a Special Advisor and Chair of our Advisory Board.”
For further information, please contact:
Jay Wilgar, Director and CEO
Telephone: (905) 844-8866 ext. 12
Email:ir@newstrike.ca