• Daily Marijuana Observer Facebook
  • Daily Marijuana Observer Twitter
  • Daily Marijuana Observer StockTwits
  • Daily Marijuana Observer SA
  • Daily Marijuana Observer Instagram
  • Daily Marijuana Observer Youtube
  • Pinterest Social Icon
  • Daily Marijuana Observer Talk Market

Newstrike's UP Cannabis Acquires Greenhouse Facility

July 13, 2017


Newstrike Resources Ltd. (TSX VENTURE:HIP) just announced that its wholly-owned ACMPR licensed producer subsidiary, Up Cannabis Inc. has agreed to acquire a greenhouse facility in Ontario. 


About the Facility 


  • Approximately 200,000 square foot, with 160,000 of that space dedicated to production 

  • Situated on 16.6 acres of land

  • Potential to add an additional 140,000 sq. feet of production space

  • Company estimates that this facility when online could increase production capacity to nearly 15,000 kg/year

  • UP plans to develop and apply for licensing of this facility under the ACMPR in addition to its existing licensed facility


Terms of Deal & Related Financing 


  • The purchase price of ~$7.3 million CAD will be financed in part through a $4.0 secured acquisition facility. The balance of the purchase price will be funded from the company's existing capital. 

  • This secured acquisition facility has been committed to the Company by a syndicate of Newstrike officers, directors and shareholders led by Beechhill Capital Corp.

  • The loan is for a term of just under seven months, expiring on February 15, 2018 and includes simple interest at the rate of 15% per year (1.25% per month) with monthly interest-only payments during the term and repayment in-full at the end of term.

  • The loan can be repaid early with the addition of a cancellation fee of 1.0% of all amounts outstanding at the time of cancellation. 

  • The loan is secured by a general charge over the assets, inventory and undertakings of UP Cannabis Inc. and upon completion of pending first-mortgage financing for the Facility, a subordinated charge on the 16.6 acres of land included in the Acquisition.

  • The Company expects to complete the acquisition and all related financings by July 31, 2017.




The Daily Marijuana Observer is working on a marijuana stock profile for Newstrike Resources. In the meantime, be sure to subscribe to one or more of their free email newsletters and check out their marijuana stock database


Also, connect with The Daily Marijuana Observer on social media via FacebookTwitter and Instagram




Investing in nanocap, microcap, and small cap stocks is highly speculative. The publishers of DailyMarijuanaObserver.com are not registered as Investment Advisors or Broker-Dealers in any jurisdiction whatsoever. The information contained on DailyMarijuanaObserver.com (“this site”) has been prepared solely for informational purposes. Nothing on the site is an offer or solicitation to buy or sell securities. Investors should seek financial advice regarding the appropriateness of investing in any securities mentioned from their financial advisor.

Please reload

Please reload

Please reload


© Copyright 2016-2020 Smoke Show Ventures, Inc.

RSS Feed

Disclaimer: Except for the historical information and data presented herein, matters discussed in articles on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future performance or achievements expressed or implied by such coverage. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. Smoke Show Ventures, Inc. or its affiliates, which owns The Daily Marijuana Observer, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.dailymarijuanaobserver.com/legal-disclaimer/.