 | | Introducing Newstrike Brands Ltd. | | | The Company launched its name change to Newstrike Brands Ltd. and unveils its new logo on its website. The name reflects the Company’s focus on the importance of brands in the cannabis industry anchored by its flagship brand, Up Cannabis. | |  Newstrike closed its previously announced bought deal, including the full exercise of the over-allotment option, for gross proceeds of $51,750M on June 19, 2018. A total of 69M units, made up of one common share and one half of a common share purchase warrant were sold at $0.75. Now, with strong cash reserves and a materially debt-free balance sheet with no external bank financing, the company is extremely well positioned to move forward, not just on the initiatives already announced, but also for any accretive opportunities that may present themselves and are strongly in line with our growth plans. | |  | | World Cannabis Congress was held from June 10-12, 2018 in Saint John, NB. | | | We’ve kept up front and centre on the conference circuit with a strong presence at the invite-only World Cannabis Congress in Saint John, New Brunswick. Liam Scott and Ruth Chun presented on a panel entitled, “A Brand New World: Corporate Branding Within The Law”. Up Cannabis hosted the Maritime Kitchen Party with special musical guests, Joel Plaskett and The Emergency. | | UP CANNABIS BECOMES A FOUNDING MEMBER OF THE GLOBAL CANNABIS PARTNERSHIP | | |  | | The Global Cannabis Partnership is a collaboration of leaders in the government-sanctioned adult-use recreational cannabis industry. | | Up Cannabis is proud to be a founding member of the Global Cannabis Partnership, established in January, 2018. Up Cannabis joins a select group of licensed producers, government agencies and affiliate organizations involved in the adult-use cannabis industry. In its first year, the Global Cannabis Partnership will develop its governance model, responsible cannabis framework and third-party accreditation process.
To learn more, please visit www.globalcannabispartnership.com | |  | | Unison Benevolent Fund is a non-profit, registered charity that provides counselling and emergency relief services to the Canadian music community. | | | Up Cannabis is a very proud sponsor of the Unison Benevolent Fund, a non-profit, registered charity that provides counseling and emergency relief services to the Canadian music community. On June 20th 2018, we were recognized for donating $150,000 to this very special not for profit charity (the second highest single donation the charity has ever received since inception). | |  We also divested of our subsidiary Enderlein Nurseries. The purchaser in this deal is acquiring all of the outstanding shares of Enderlein for $2.5 million in two payments. With a greater understanding of the expansion process now that we are through the approvals for a site B, we are looking at more strategic facilities that are in line with our overall strategy. | |  Newstrike Brands Ltd. is the parent company of Up Cannabis Inc., a licensed producer of cannabis that received its cultivation license on December 19, 2016 and amendment for sales on January 5, 2018. Newstrike Brands, together with its strategic partners, is developing a diverse network of high quality cannabis brands. For more information visit www.up.ca or www.newstrike.ca | | | Do you have questions about these topics, or any others related to Newstrike, Up Cannabis, or the emerging market for cannabis in Canada? We’d love to have a conversation. Follow us on | | | If you want to speak to one of us directly please contact ir@newstrike.ca and one of our team will be happy a facilitate a connection to, and a conversation with, any member of our team. | | | Forward-Looking Information
The update contains forward-looking information and forward-looking statements based on current expectations. It has been prepared by Newstrike Brands Ltd. and is general background information about Newstrike Brands Ltd.’s activities current as at the date of this update. This information is given in summary form and does not purport to be complete. These statements relate to future events or Newstrike Brands Ltd.’s future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates” or “believes”, or variations of, or the negatives of, such words and phrases, or statements that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Newstrike Brands Ltd.’s actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements.
Information in this update, including forecast financial information, should not be considered as advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling securities or other financial products or instruments and does not take into account your particular investment objectives, financial situation or needs. Before acting on any information you should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, you should seek independent financial advice. All securities and financial product or instrument transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments and, in international transactions, currency risk. This update may contain forward looking statements including statements regarding our intent, belief or current expectations with respect to Newstrike Brands Ltd.’s businesses and operations, market conditions, results of operation and financial condition, capital adequacy, specific provisions and risk management practices. Newstrike Brands Ltd. undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law. If Newstrike Brands Ltd. does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements, unless required by law.
Past performance is not a reliable indication of future performance. Unless otherwise specified all information is as of April 18, 2018. | | | |