Newstrike Confirms Partnership

TORONTO, ONTARIO--(Marketwired - May 30, 2017) - Newstrike Resources Ltd. (TSX VENTURE:NR) ("Newstrike" or the "Company") is pleased to confirm that one of Canada's most iconic group of musical artists, The Tragically Hip, are the investors and partners identified indistinctly as the "band" in the Company's Filing Statement dated May 18, 2017, filed as part of the recently completed business combination with HPI Holdings Ltd. Newstrike's common shares are expected to commence trading on a post-closing basis on the TSX Venture Exchange at the open of markets on Thursday, June 1, 2017, under the new ticker symbol "HIP".

"Newstrike is uniquely positioned at a time of unprecedented opportunity for companies in the emerging cannabis market: the dawn of a completely new consumer category. The members of The Tragically Hip are known to a generation of Canadians for their unwavering commitment to quality and integrity and, as investors and partners, we look forward to drawing on their artistic sensibilities and complementary business acumen to help Newstrike develop brands, within the government's evolving regulatory framework, that reflect these same values," said Newstrike's CEO, Jay Wilgar. "I am proud, humbled and honoured that they chose to partner with us and invest in our team."

Further Information

For further information regarding the Transaction, please refer to the filing statement of Newstrike and HPI dated as of May 18, 2017, available on SEDAR at www.sedar.com. Investors are cautioned that, except as disclosed in such filing statement any information released or received with respect to the business combination may not be accurate or complete and should not be relied upon. Trading in the securities of Newstrike should be considered highly speculative. The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.

About Newstrike

Newstrike is a Canadian medical cannabis company licensed by Health Canada through its wholly-owned subsidiary and operating from a dedicated, state-of-the-art production and manufacturing facility in Brantford, Ontario. For additional information please visit www.newstrike.ca.

Forward-Looking Information

This press release contains forward-looking information based on current expectations. Statements about the recently completed business combination, the commencement of trading and the parties' ability to receive necessary approvals are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the business combination will have been completed on the terms described above. Newstrike assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.