NWKRF - Newstrike Resources - Cash Position Supports it's Expansion Strategies

The Newstrike Resources (OTCPK: NWKRF) earnings release, highlights its aggressive growth plans for this year. The Canada-based licensed producer and cultivator of medical cannabis, has also generated a massive amount of cash in the latest quarter supporting its aggressive growth plans. The company’s first-quarter results also demonstrated that its business growth strategies are working.

Its cash and stock equivalents increased to $88.0 million at the end of the first quarter from $24 million in the prior year period. Newstrike Resources received $9.5 million in the first quarter for termination fee from CanniMed Therapeutics Inc. (CMMDF). It ...