Newstrike Brands Ltd. (TSX-V:HIP) ("Newstrike" or the "Company"), is pleased to announce that its wholly-owned subsidiary, Up Cannabis Inc. ("Up Cannabis"), has entered into an agreement naming it to the list of official suppliers to the Ontario Cannabis Store (OCS), positioning Up Cannabis to service Canada's largest adult-use cannabis market.

"We are absolutely thrilled to be among the select group of licensed producers to partner with the OCS to service the ground-breaking launch of Canada's largest adult-use cannabis market," said Jay Wilgar, CEO of both Newstrike and Up Cannabis. "This agreement marks yet another significant achievement for Newstrike and Up, bolstering our strategy to position Up Cannabis as a premier adult-use brand."

According to a 2018 report from Deloitte, Ontario represents approximately 38 per cent of Canada's entire adult-use cannabis market, which translates to a market size upwards of $1.68 billion1.

Added Wilgar: "We support Ontario's plan to ensure strict regulation of the retail environment and the need for a measured roll-out as we approach legalization on October 17th. We look forward to working with the OCS to ensure safe, regulated and reliable product at competitive prices, which will help eliminate the black market."

With the OCS signed agreement in place, along with a definitive Supply Agreement with the Alberta Gaming, Liquor & Cannabis Commission (AGLC), and a signed Memorandum of Understanding with the British Columbia Liquor Distribution (BCLDB), Up Cannabis is well positioned to provide Canadians with adult-use cannabis.