Newstrike Shares Corporate Update and Financial Report

Newstrike Resources (TSXV:HIP) released a financial report for the twelve-month period ended December 31, 2017.

As quoted in the press release:

“In just under 12 months, Newstrike has made extraordinary progress towards its goal of becoming a top-five cannabis company”, noted Jay Wilgar, Newstrike’s CEO.  “Our balance sheet is strong, our production-capacity is fully-funded and we have the resources, platform and people to selectively seize the right strategic growth opportunities which deliver sustained value to our investors and stakeholders.”

Milestones Achieved

Licensing & Production

Up Cannabis’ license was successfully amended to permit the sale of cannabis in all acceptable forms:

• to all authorized persons under the ACMPR; and, once the applicable legislation comes into force,
• into the broader adult-use Canadian recreational market.

The Brantford Facility:

• Health Canada removed all limitations on the amount of cannabis that may be produced at Up Cannabis’ facility in Brantford, Ontario (the “Brantford Facility”) and, upon installation of the requisite extraction equipment, Up Cannabis is permitted to produce an unlimited amount of cannabis oils at this same facility; and,
• received ISO 9001:2015 certification.

Click here to read the full press release.

Source: globenewswire.com