Newstrike Brands Ltd NWKRF

Newstrike unit gets Health Canada OK for dried cannabis

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2018-01-05 09:20 ET - News Release Mr. Jay Wilgar reports NEWSTRIKE'S UP CANNABIS INC. RECEIVES HEALTH CANADA APPROVAL FOR AMENDMENT TO ITS PRODUCER'S LICENSE FOR SALES Health Canada has approved the application by Newstrike Resources Ltd.'s wholly-owned subsidiary, Up Cannabis Inc., to amend its license, thereby allowing Up Cannabis to sell cannabis in dried marijuana form in accordance with the Access to Cannabis for Medical Purposes Regulations. "We are delighted to have achieved this major strategic milestone in our growth strategy," said Jay Wilgar, chief executive officer 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 Resources Ltd. and Up Cannabis Inc. Newstrike is the parent company of Up Cannabis, a licensed producer of cannabis. Newstrike, together with its strategic partners, is developing a diverse network of high-quality cannabis brands. We seek Safe Harbor. 2018 Canjex Publishing Ltd. All rights reserved.