TORONTO, May 08, 2018 (GLOBE NEWSWIRE) -- Newstrike Resources Ltd. (TSXV:HIP) ("Newstrike" or the "Company”), announced today the appointment of Jason Redman as Chief Financial Officer, subject to applicable regulatory and exchange approvals.



Jason brings a broad range of skills in operations and financial management built over a career spanning more than 20 years. Most recently he served as Chief Financial Officer for Sirius XM Canada where he was instrumental in completing the organization’s recapitalization go-private transaction.

Prior to SiriusXM Canada, he served as President, Drainage Solutions at Armtec LP (a Brookfield company). In this role, Jason also served as President of the Corrugated Steel Pipe Institute and was an active member of the Management Committee of the U.S. Plastic Pipe Institute.

Prior to joining Armtec, Jason held numerous other senior positions including Chief Operating Officer/Chief Financial Officer for Dealfind/Teambuy, Chief Financial Officer for Sirius Canada (prior to its merger with XM Canada),Chief Financial Officer for ONEnergy Inc. and Director of Finance for Trapeze Software (a Constellation Software company).

Jason is a Canadian Chartered Accountant, Chartered Professional Accountant, and a U.S. Certified Public Accountant-Delaware. He holds a Masters of Accounting degree from the University of Waterloo and a Masters of Business Administration from the Kellogg School of Management – Northwestern University. Jason is the recipient of the Governor General of Canada Medal and serves as an active member of the Young Presidents’ Organization – Toronto Chapter.

“We are excited to bring Jason on board here at Newstrike. He has a strong track record of achievements including proven leadership ability, executing growth strategies and completing accretive M&A transactions,” said Jay Wilgar, Chief Executive Officer of Newstrike. “We anticipate his strict financial discipline and strong business acumen will prove invaluable as we work towards taking our company to the next level.”

“Newstrike’s extraordinary progress in a highly competitive market is what attracted me to this company.” said Jason Redman. “They have achieved much in the last year and I look forward to working closely with the team to bring the company’s strategic goals to fruition.”

In connection with Jason’s appointment, he has been granted 2,100,000 options with an exercise price of $1.00 and vesting over two years in accordance with Newstrike’s option plan.

Jason succeeds Jim Macpherson, who has served as CFO since Newstrike’s acquisition of Up Cannabis.

“Jim has been a valuable team member as we transitioned to a public company,” said Wilgar. “We’re grateful to him for the contributions he has made and the guidance he has provided. We sincerely wish him all the best.”

For further information, please contact:

Jay Wilgar, Director and CEO

Telephone: (905) 844-8866 ext. 12

Email: ir@newstrike.ca

About Newstrike and Up Cannabis

Newstrike is the parent company of Up Cannabis Inc., a licensed producer of cannabis that is licensed to both cultivate and sell cannabis in all acceptable forms. Up Cannabis is in turn the parent company of Up Cannabis Niagara Inc. Newstrike, through Up Cannabis and together with select strategic partners, including Canada’s iconic musicians The Tragically Hip, is developing a diverse network of high quality cannabis brands. For more information visit www.up.ca or www.newstrike.ca.

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. 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. These forward-looking statements include, but are not limited to, statements relating to Newstrike’s expectations with respect to its performance and achievements. 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