Article by Lift News
The Tragically Hip announced this morning a partnership with licensed medical cannabis producer Newstrike. According to the company website, Newstrike is a licensed producer of medical cannabis through its wholly owned subsidiary Hemisphere Pharmaceuticals.
Hemisphere Pharmaceuticals received its cultivation license on December 19th, 2016 and is based in Brantford, Ontario. Newstrike is reportedly expected to trade on the TSX under the symbol ‘HIP’. Hemisphere told the press they had about 14,000 sq. ft. of production space last December.
The short press release says that “Newstrike has done its due diligence with respect to all aspects of this business. They’ve hired pre-eminent scientists and growers, developed large, well-structured sites and have the wherewithal and expertise to take this on.” Newstrike does not yet have a sales license. It can take a producer from 6 months to several years to get a sales license after a production license.