NAMASTE RECEIVES HEALTH CANADA CONFIRMATION OF READINESS
January 22 2018 - 9:20AM
InvestorsHub NewsWire
Vancouver, BC -- January 22, 2018 -- InvestorsHub NewsWire
-- Namaste Technologies Inc. (“Namaste” or the
“Company”) (CSE:N)
(FRA:M5BQ) (OTCMKTS:NXTTF) is
pleased to announce that Health Canada’s Office of Medical Cannabis
has provided the Company with a Confirmation of Readiness (“COR”)
for a license under Canada’s Access to Cannabis for Medical
Purposes Regulations (“ACMPR”) for the Company’s wholly owned
subsidiary, Cannmart Inc. (“Cannmart”). Cannmart is a late-stage
applicant under the ACMPR for a medical cannabis “sales-only”
license. Namaste plans to leverage its growing site traffic and
existing consumer databases along with the Company’s revolutionary
patient acquisition tool, NamasteMD.com, to become Canada’s leading
e-commerce retailer for medical cannabis products.
Further to receiving the COR and as construction of the Cannmart
facility nears completion, the Company is now focused on providing
all additional information as required by Health Canada in order to
have the “sales-only” license issued.
Once Cannmart’s ACMPR “sales-only” license is issued, the
Company will focus on sourcing medical cannabis from a large
variety of domestic and international producers in order to offer
the largest variety of strains to its patients. Namaste’s goal is
to create a simplified user experience to assist patients with a
smooth onboarding process and access to the highest quality
products available on the market.
Management Commentary
Sean Dollinger, President and CEO of Namaste
comments: “We are beyond excited to receive this
amazing news. After all of the hard work and dedication from our
management team as well as our consultants, we believe we are
finally poised to execute on our strategy to become the most
comprehensive online marketplace for medical cannabis in Canada.
Once the sales license is issued, we will focus on sourcing
high-quality products from local ACMPR licensed producers with a
specific focus on craft cannabis brands as we bring great value and
exposure for all producers, big and small.
This is a monumental day for the Company and I’m very proud of
our team and I would also like to take this opportunity to thank
all of our peers in the cannabis industry who saw value in both the
products and services we are able to provide and decided to work
collaboratively with Namaste for the betterment of all Canadian
cannabis patients. While this is an important step in our journey,
we believe this is only the beginning of a transformational year
for Namaste and its shareholders.”
About Namaste Technologies Inc.
Namaste is the largest online retailer of medical cannabis delivery
systems globally. Namaste distributes vaporizers and smoking
accessories through e-commerce sites in 26 countries and with 5
distribution hubs located around the world. Namaste has majority
market share in Europe and Australia, with operations in the UK,
Canada and Germany and has opened new supply channels into emerging
markets including Brazil, Mexico and Chile. Namaste, through its
acquisition of Cannmart Inc., a Canadian based late-stage applicant
for a medical cannabis distribution license (under the ACMPR
Program) is pursuing a new revenue vertical in online retail of
medical cannabis in the Canadian market. Namaste intends to
leverage its existing database of Canadian medical cannabis
consumers, along with its expertise in e-commerce to create an
online marketplace for medical cannabis patients, offering a larger
variety of product and a better user experience.
Forward-Looking Information
This press release contains forward-looking information based on
current expectations. 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. The Company assumes no responsibility to update or
revise forward-looking information to reflect new events or
circumstances unless required by law.
Although the Company believes that the expectations and
assumptions on which the forward-looking statements are based are
reasonable, undue reliance should not be placed on the
forward-looking statements because the Company can give no
assurance that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. These
statements speak only as of the date of this press release. Actual
results could differ materially from those currently anticipated
due to a number of factors and risks including various risk factors
discussed in the Company’s disclosure documents which can be found
under the Company’s profile on sedar.com.
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E the Securities Exchange Act of 1934, as
amended and such forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The CSE has neither reviewed nor approved the
contents of this press release.
On behalf of the Board of Directors
“Sean Dollinger”
Chief Executive Officer
Direct: +1 (786) 389 9771
Email: info@namastetechnologies.com
Further information on Namaste and its products can be accessed
through the links below:
namastetechnologies.com
namastevaporizers.co.uk
everyonedoesit.co.uk
australianvaporizers.com.au