Newstrike Announces Shareholder Approval of Plan of Arrangement with CanniMed

TORONTO, ONTARIO--(Marketwired - Jan. 17, 2018) - Newstrike Resources Ltd. (TSX VENTURE:HIP) ("Newstrike" or the "Company") is pleased to announce that at an annual and special meeting of its shareholders held today (the "Meeting"), its shareholders overwhelmingly approved the previously announced proposed plan of arrangement (the "Plan of Arrangement") with CanniMed Therapeutics Inc. ("CanniMed"), pursuant to which CanniMed will acquire all of the outstanding common shares of Newstrike (the "Common Shares"). Of those votes cast with respect to the Plan of Arrangement, an aggregate of 271,880,416 Common Shares, representing approximately 99.40% of the votes cast by the shareholders at the Meeting or represented by proxy, were voted in support of the resolution. In addition, an aggregate of 239,517,680 Common Shares, representing approximately 99.30% of the votes cast by the shareholders at the meeting or represented by proxy excluding certain insiders, were voted in support of the resolution.

In addition to the foregoing, all other matters voted upon at the Meeting by shareholders were approved, including the election of all nominated directors, the appointment of the Company's auditor, and the confirmation of Newstrike's existing stock option plan.

The Plan of Arrangement remains subject to approval of the shareholders of CanniMed at a special meeting of shareholders which is currently scheduled for Tuesday, January 23, 2018, court approval, applicable regulatory approvals, and the satisfaction of certain other closing conditions customary in transactions of this nature, as specified in the Company's management information circular dated December 12, 2017, available on SEDAR at www.sedar.com.

About Newstrike

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 begin sales on January 5, 2018. Up Cannabis is in turn the parent company of Up Cannabis Niagara Inc. Newstrike, together with its 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