TORONTO, Feb. 27, 2018 (GLOBE NEWSWIRE) -- Newstrike Resources Ltd. (TSXV:HIP) (“Newstrike” or the “Company”) announces that it has granted incentive stock options to certain of its directors, officers, employees and service providers to purchase up to an aggregate of 4.75 million Newstrike common shares (the “Options”). The Options are exercisable for a period of five years, at a price of $1.10 per share, being a premium of more than 15% to the closing price of the common shares on the TSX Venture Exchange on February 23, 2018, the last trading day prior to the date of grant. All Options were granted in accordance with the Company's stock option plan.

For further information, please contact:

PM Rendon

Director, Communications & Public Relations

Up Cannabis Inc.

Telephone: (365) 773-5432

Email: pm@up.ca

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-license permitting it to sell cannabis in all acceptable forms to all authorized persons on January 5, 2018. Newstrike, together with its strategic partners, including Canada’s iconic musicians, The Tragically Hip, is developing a diverse portfolio of high-quality cannabis brands and complementary production capacity. For more information visit www.up.ca or www.newstrike.ca.

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