Newstrike Brands Ltd NWKRF

Going out on a limb

[thebiz]

https://globenewswire.com/news-release/2019/01/16/1700869/0/en/MediPharm-Labs-Signs-New-Cannabis-Oil-Agreements-and-Completes-First-Shipments-of-Supply-in-December.html

I may be going out on a limb here but I would bank on the fact that some of the 50% increase in extraction and 1,600 KG in first 3 weeks of 2019 was from UP Cannabis.

"MediPharm Labs’ strong momentum has continued into 2019 with several significant accomplishments to support its continued growth as the leader in specialized, research-driven cannabis extraction business designed for large scale commercial production. Highlights include:

• Processed and sold large quantities of cannabis oil inventory under its white label program. Has since acquired large volume of dried cannabis to ensure uninterrupted supply of oil for existing and new customers. Deep industry relationships and proactive supply chain management have secured over 1,600kg of cannabis flower and trim over a 3-week period from 7 different licensed producers (“LPs”).  The Company has now made supply purchases from 13 LPs and is continuing to procure additional supply to meet strong demand. 
   
• Executed multiple long-term tolling agreements with 6 LPs under Cannabis Concentrates Program under which it has received large quantities of dried cannabis for processing. In addition to the current arrangements in place, the Company has a robust pipeline of new opportunities which are under evaluation and/or negotiation. 
   
• Initial extraction capacity of 100,000 kg of dried cannabis was increased by 50% to an industry leading capacity of 150,000 kg as approved by Health Canada December 24, 2018.  (This total capacity equates to 29.1 million vape pen cartridges equivalent). Continued expansion plans are underway to support growing demand for cannabis oils, the fastest growing segment of the cannabis industry."

[stockshock45]

I would agree with your Statement!!! Heres the link to the old Supply aggreeement with MediPharm in sept 2018.  https://www.newswire.ca/news-releases/up-cannabis-signs-supply-agreement-with-medipharm-labs-for-extraction-694121241.html

[thebiz]

Yup yup! This is nice! Should show up as additional revenues for Q4 in Feb and Q1 to follow. Thanks for posting!

[Oilersgoforcup]

Great Post.....keep up the good work....good luck to all !!!

[EagerBeaver1972]

That would be so awesome. I think HIP will be profitable without this, but with is the icing on the cake.