Mr. Jay Wilgar reports

NEWSTRIKE GRADUATES TO TIER 1 LISTING ON THE TSX VENTURE EXCHANGE

Newstrike Brands Ltd. has been approved for graduation from Tier 2 to Tier 1 issuer status on the TSX Venture Exchange.

"Advancing to a Tier 1 listing on the TSX-V reflects Newstrike's continued progress and development as a company with Canada's legalized adult-use cannabis market fast approaching," said Jay Wilgar, chief executive officer and chairman of Newstrike. "We're excited to reach this listing milestone and we look forward to others as we execute our strategy to build Up Cannabis as a premier adult-use cannabis brand across Canada."

The TSX-V classifies issuers into different tiers based on standards including historical financial performance, stage of development and financial resources. Tier 1 is the TSX-V's premier tier and is reserved for the TSX-V's most advanced issuers.

About Newstrike Brands Ltd.

Newstrike is the parent company of Up Cannabis, a licensed producer of cannabis that is licensed to both cultivate and sell cannabis in all acceptable forms. 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.

We seek Safe Harbor.