SASKATOON, Saskatchewan & OAKVILLE, Ontario--(BUSINESS WIRE)-- CanniMed Therapeutics Inc. (TSX:CMED) (“CanniMed”) and Newstrike Resources Ltd. (TSX-V:HIP) (“Newstrike”) will be hosting a conference call and webcast with presentation to discuss the acquisition announced on Friday, November 17, 2017.
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- Combining the leading medical brand and a high profile recreational brand to create a premier global cannabis company
- Well positioned to offer innovative, high quality products with two top tier distinct brands uniquely positioned to address key product trends and emerging drivers of growth in both market segments
- CanniMed and Up Cannabis will leverage infrastructure and expertise across both platforms to drive strong synergistic value while focusing on being leaders in their distinct markets, with best-in-class production and marketing practices
- Expected to be accretive (before synergies) on key metrics in 2019
- The Tragically Hip remain intimately involved as shareholders and active participants in the creation and support of the Up Cannabis brand
- Significantly improves operational scale with a targeted 45,000 kg of capacity in 2019 and market breadth
- Improved capital markets presence with a pro-forma capitalization exceeding $500mm
- Newstrike shareholders to receive 33.0 CanniMed shares for each 1,000 shares of Newstrike
Conference Call Information
CanniMed and Newstrike will host a conference call and a webcast accompanied by slides to discuss the recently announced transaction on Monday, November 20, 2017 at 10:00 AM EST. Analysts, investors and media are invited and welcome to participate.
Conference Call information:
If you are unable to participate in the live webcast, please use the following call in specifics. The presentation will be available at www.CanniMedTherapeutics.com.
Toll Free Dial-In: 1-866-521-4909
International Dial-In: 647-427-2311
Conference ID: 5469669
Following completion, an archive version will be available here: http://event.on24.com/r.htm?e=1548402&s=1&k=BD174F2AB5EECF4E99B8DEF6666DF687. You can also download the presentation from the CanniMed Therapeutics website at www.CanniMedTherapeutics.com.
About CanniMed Therapeutics Inc.
CanniMed is a Canadian-based, international plant biopharmaceutical company and a leader in the Canadian medical cannabis industry, with 16 years of pharmaceutical cannabis cultivation experience, state-of-the-art, GMP-compliant production process and world class research and development platforms with a wide range of pharmaceutical-grade cannabis products. In addition, the Company has an active plant biotechnology research and product development program focused on the production of plant-based materials for pharmaceutical, agricultural and environmental applications.
CanniMed, through its subsidiaries, was the first producer to be licensed under the Marihuana for Medical Purposes Regulations, the predecessor to the current Access to Cannabis for Medical Purposes Regulations. It was the sole supplier to Health Canada under the former medical cannabis system for 13 years, and has been producing safe and consistent medical cannabis for thousands of Canadian patients, with no incident of product diversion or recalls.
About Newstrike and Up Cannabis
Newstrike is the parent company of Up Cannabis, a licensed producer of cannabis that received its cultivation license on December 19, 2016. Newstrike, 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.
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CanniMed Therapeutics Inc.
Source: CanniMed Therapeutics Inc. and Newstrike Resources Ltd.