Mr. Jay Wilgar reports
NEWSTRIKE ANNOUNCES AGM RESULTS
All business tabled for consideration and approval at Newstrike Resources Ltd.'s annual and special meeting of shareholders held on May 22, 2018, in Toronto, was passed with approximately 99 per cent of votes cast being in favour of: (1) the election of the management slate of directors; (2) the appointment of DMCHL LLP as auditor of the company; (3) the approval of a resolution affirming the company's stock option plan, in accordance with the requirements of the TSX Venture Exchange; (4) the approval of a special resolution providing the company's directors with the ability -- but not requirement -- to consolidate the company's common shares at a time and in such circumstances as may be later determined; and (5) the approval of a special resolution to change the company's name to Newstrike Brands Ltd. Details of the business conducted at the AGM may be found in the company's information circular, dated April 23, 2018, and available at SEDAR. Votes representing 267,391,181 common shares or 55.5 per cent of the issued and outstanding shares at the record date were cast at the meeting.
At a meeting immediately following the AGM, the board of directors unanimously appointed Jay Wilgar, Newstrike's chief executive officer, as chair of the board and Steve Smith as chair of the audit committee. The board also directed company management to file articles of amendment implementing the above-noted name change to Newstrike Brands. The company expects to complete this filing and commence trading as Newstrike Brands Ltd. on or about June 1, 2018.
About Newstrike
Resources Ltd.
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.
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