– CANADA, Toronto – Newstrike Resources Ltd. (TSX-V:HIP), announced today that it welcomes Stephen A. Smith to its Board of Directors. Mr. Smith is expected to serve as Lead Director and Chair of Newstrike’s Audit Committee.
“I want to warmly welcome Stephen to our Board and our Company,” said Newstrike CEO Jay Wilgar. “Stephen brings a wealth of Board-level perspective and sector-specific operational experience that is unparalleled and will be invaluable to our Board, Management team and shareholders as we enter a critical phase of our growth strategy with the pending opening of the Canadian market for adult-use recreational cannabis,” added Wilgar.
Mr. Smith served on the Board of Directors, Audit Committee and the Executive Committee for CST Brands (recently acquired by Couche-Tard), was recently an Advisory Board member of Jackman Reinvention Inc., a brand strategy consultancy in Toronto and is a member of the Board, and Chair of the Finance1 and Audit Committee, for the Metro Toronto Convention Centre. His Executive experience includes serving as an Executive Vice President with the Loblaw Companies Ltd. and CFO, later Co-CEO of Cara Operations Ltd.
Mr. Smith succeeds Scott M. Kelly, who has resigned as Executive Chair and stepped down from the Board. Jay Wilgar, has accepted the role of Board Chair on an interim basis. Mr. Kelly’s departure and the appointment of Mr. Smith are the latest steps in a well-coordinated succession plan developed by Newstrike’s Board to enhance both the Board itself and Newstrike’s Management team as the Company prepares to participate successfully in the opening of the Canadian market for adult-use cannabis.
“Scott Kelly was instrumental in building this company into what it is today: a strong and focused company with a very bright future,” said Mr. Wilgar. “On behalf of the Board of Directors, the Management team and everyone at Newstrike and Up Cannabis, I would like to express our gratitude to Scott for his unwavering commitment to the Company, his guidance, and his many contributions to our success. Scott is stepping off the Board, but he is not stepping away, he will continue to provide counsel to me personally, the Board and the Company as a whole, as a Special Advisor and Chair of our Advisory Board.”
About Newstrike and Up Cannabis
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.
For more information : http://www.newstrike.ca
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