Newstrike Resources Ltd.

Newstrike Resources Ltd.
Up Cannabis Inc.

Up Cannabis Inc.

January 12, 2018 03:30 ET

The Tragically Hip Supports CMED & HIP Combination

"Putting consumers first is how you build something that will last," band says, re-iterating resolute backing for the agreement to create Canada's premier cannabis company

TORONTO, ONTARIO--(Marketwired - Jan. 12, 2018) - Newstrike Resources Ltd. (TSX VENTURE:HIP) ("Newstrike") welcomes a statement from Canada's iconic musicians, The Tragically Hip, in strong support of Up Cannabis continuing to reach important milestones and Newstrike's agreement to combine with CanniMed Therapeutics Inc. (TSX:CMED) ("CanniMed"). The band, which acts as a creative partner and major shareholder in Newstrike, made the following statement today:

"For decades, we have known that the legalization of cannabis was both inevitable and desirable. The slow but steady movement toward the acceptance of, first medical cannabis and now the recreational use of cannabis by adults, reveals a strong social inclination for caution, compassion and a reliance on fact based decision making. Now the time is upon us.

When we first met the folks at Newstrike we recognized a natural connection, not just on a personal basis, but more importantly on an ideological one. Their devotion to the details of quality and responsibility, and their desire to build a brand that will become a pillar of the industry, told us that we had found someone with whom to partner. Our interest, like in our music, has never been in the 'quick hit make a few bucks' model. If our name and reputation are to be attached or associated, we need to be certain that our partners are on the same page as us. Like The Tragically Hip, the folks at Newstrike understand that putting the consumer first, whether audience, patient or adult-use customer, is how you build something that will last.

When we first heard of the proposal to merge with CanniMed we were cautiously optimistic about the prospect and mutual benefits but, after meeting and chatting with Brent Zettl a few times, we knew that this was a really solid move for Newstrike and for both companies.

The Tragically Hip are both active shareholders and partners in Newstrike and hope to continue to be active participants in marketing and brand decisions for many years to come.

We, The Tragically Hip, fully support the combining of CanniMed and Newstrike. CanniMed brings an unparalleled expertise in the medicinal field and Newstrike/Up Cannabis brings creative fire in marketing and branding, new production capacity and a deep understanding of the opportunities and responsibilities required for success in the recreational market. Now, with Up Cannabis having received its license amendment to begin sales, the path to success is even more defined as the adult-use cannabis market comes into focus and Up Cannabis realizes its business plan.

We strongly feel that this combination of companies will create shareholder value and a formidable force in the Canadian cannabis market for many decades to come.

Sincerely (and on behalf of The Hip)

Robert E. Baker

About Newstrike and Up Cannabis

Newstrike is the parent company of Up Cannabis Inc., a licensed producer of cannabis that received its cultivation license on December 19, 2016, and was granted an amendment to begin sales on January 5, 2018. Up Cannabis is in turn the parent company of Up Cannabis Niagara Inc. Newstrike, together with its strategic partners, including Canada's iconic musicians The Tragically Hip, is developing a diverse network of high quality cannabis brands. For more information visit or

Forward-Looking Information

This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Newstrike to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These forward-looking statements include, but are not limited to, statements relating to Newstrike's expectations with respect to: the timing and outcome of the proposed acquisition of Newstrike by CanniMed and the anticipated benefits of the acquisition of Newstrike to CanniMed and Newstrike shareholders. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

In respect of the forward-looking statements and information concerning the anticipated benefits and completion of the proposed acquisition of Newstrike by CanniMed, the Company has provided such statements and information in reliance on certain assumptions that it believes are reasonable at this time, including assumptions as to the time the ability of Newstrike (and CanniMed) to receive, in a timely manner and on satisfactory terms, the necessary regulatory, court and shareholders approvals for the acquisition; the ability of the parties to the Newstrike acquisition to satisfy, in a timely manner, the other conditions to the closing of the transaction; and other expectations and assumptions concerning the acquisition. There can be no assurance that the proposed acquisition of Newstrike by CanniMed will occur, or that it will occur on the terms and conditions contemplated in this news release. The proposed transaction could be modified, restructured or terminated. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties.

Actual results could differ materially from those currently anticipated due to a number of factors and risks. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date.

Newstrike does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • PM Rendon
    Director, Communications & Public Relations
    Up Cannabis Inc.
    Telephone: 365-773-5432