~Ignite and CannMart announce the launch of
Ignite Branded Cannabis and Cannabis 2.0 offerings and accessories
in the Canadian marketplace~
TORONTO, March 2, 2020 /CNW/ - Namaste Technologies
Inc. ("Namaste" or the "Company") (TSXV: N) (FRANKFURT: M5BQ)
(OTCMKTS: NXTTF), a leading platform for cannabis
products, accessories, and education, today announced that its
wholly owned subsidiary, CannMart Inc. ("CannMart"), has executed a
licensing agreement (the "Agreement") with IGNITE International
Brands, Ltd. ("IGNITE") (CSE: BILZ) (OTCQX: BILZF). The Agreement
grants CannMart a licence to use certain IGNITE brand trademarks on
legal cannabis-based products (the "IGNITE Products") in
consideration for certain royalty payments.
Pursuant to the Agreement, CannMart will work with IGNITE's
quality control and product development teams to source premium
inputs, including flower and Cannabis 2.0 offerings, from Canadian
craft cannabis producers for the IGNITE Products. Under the
Agreement, CannMart assumes all functions associated with
procurement, processing, and packaging of the IGNITE Products in
its Health Canada-licenced processing facility. In addition,
CannMart will oversee the sale and distribution of the IGNITE
Products in Canada, leveraging its
Canadian trade channels. Pursuant to the Agreement, IGNITE will, on
behalf of CannMart, market the IGNITE Products in Canada.
"The IGNITE team remains committed to delivering cannabis
products to every market we target. We firmly believe working with
CannMart will provide quality product offerings and a quicker route
to market given CannMart's competencies," said IGNITE CEO,
Dan Bilzerian. "The IGNITE
philosophy aligns with CannMart's passion to deliver innovative
products through its global distribution channels."
"CannMart delivers a unique value-added proposition to brands,"
said Curtis Heffernan, President of
IGNITE. "The agreement with CannMart will allow IGNITE to remain
laser-focused on expanding brand awareness to maximize its reach to
Canadian consumers."
"CannMart continues to demonstrate its ability to attract
leading brands like IGNITE, to deliver recognizable quality
products to consumers," said Meni
Morim, CEO of Namaste Technologies. "Namaste believes IGNITE
is well known among our current customer base and CannMart intends
to leverage IGNITE's brand recognition to drive sales throughout
its network of government partners and retailers."
Namaste also reports that they have loaned Pineapple Express
Delivery Inc. ("Pineapple"), of which they have a 49% equity
interest, $125,000 in support of
Pineapple's efforts for cash flow purposes.
About Ignite International Brands Ltd.
IGNITE (CSE:BILZ, OTCQX: BILZF) is a CSE-listed and OTCQX traded
company operating in permissible CBD and cannabis sectors. IGNITE
intends to expand its business, which currently includes branding,
marketing, licensing, sales and distribution, across the United States, Canada and United
Kingdom into international jurisdictions by leveraging
multiple product platforms. IGNITE intends to affect this expansion
through brand leverage, product development, targeted marketing and
strategic supply chain partnerships in each of its active and
target jurisdictions.
Further information on Ignite International Brands, Ltd. and its
products, can be accessed through the links below:
ignite.co
ignitecbd.co
igniteinternational.co
About Namaste Technologies Inc.
With headquarters in Toronto,
ON, and offices in both B.C. and around the globe, Namaste
Technologies is a leading online platform for cannabis products,
accessories, and responsible education. The company's 'everything
cannabis store', CannMart.com, provides customers with a diverse
selection of hand-picked products from a multitude of
federally-licensed cultivators, all on one convenient site.
Namaste's global technology and continuous innovation address local
needs in a burgeoning cannabis industry requiring smart
solutions.
Information on the Company and its many products can be accessed
through the links below:
NamasteTechnologies.com
NamasteMD.com
Cannmart.com
NamasteVapes.ca
Everyonedoesit.ca
FORWARD-LOOKING INFORMATION – This news release contains
"forward-looking information" within the meaning of applicable
securities laws. All statements contained herein that are not
historical in nature contain forward-looking information.
Forward-looking information can be identified by words or phrases
such as "may", "expect", "likely", "should", "would", "plan",
"anticipate", "intend", "potential", "proposed", "estimate",
"believe" or the negative of these terms, or other similar words,
expressions and grammatical variations thereof, or statements that
certain events or conditions "may" or "will" happen. The
forward-looking information contained herein is made as of the date
of this press release and is based on assumptions management
believed to be reasonable at the time such statements were made,
including management's perceptions of Namaste's standing in the
online marketplace for cannabis products, any future Health Canada
license grant to Pineapple, management's perceptions of IGNITE and
its standing in the cannabis industry, the expectation by
management that IGNITE's brand awareness among Namaste's existing
and new customer base will driver sales, the ability of Pineapple
to grow its market share, the ability of Pineapple to launch next
day delivery service outside the Greater
Toronto Area, the submission and timing of Pineapple's
evidence regarding its Health Canada application, the effect of
Health Canada license approval on Pineapple's business sand
operations, future growth, results of operations, operational
matters, historical trends, current conditions and expected future
developments, as well as other considerations that are believed to
be appropriate in the circumstances. While we consider these
assumptions to be reasonable based on information currently
available to management, there is no assurance that such
expectations will prove to be correct. By their nature,
forward-looking information is subject to inherent risks and
uncertainties that may be general or specific and which give rise
to the possibility that expectations, forecasts, predictions,
projections or conclusions will not prove to be accurate, that
assumptions may not be correct and that objectives, strategic goals
and priorities will not be achieved. A variety of factors,
including known and unknown risks, many of which are beyond our
control, could cause actual results to differ materially from the
forward-looking information in this press release. Such factors
include, without limitation: risks relating to the Company's
ability to execute its business strategy and the benefits
realizable therefrom, risks specifically related to the Company's
international operations, and risks relating to the market price of
Namaste common shares. Additional risk factors can also be found in
the Company's current MD&A and annual information form, both of
which have been filed under the Company's SEDAR profile at
www.sedar.com. Readers are cautioned not to put undue reliance on
forward-looking information. The Company undertakes no obligation
to update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, except as
required by applicable law. Forward-looking statements contained in
this news release are expressly qualified by this cautionary
statement.
Neither the 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 or has in any way approved or disapproved
of the contents of this press release.
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SOURCE Namaste Technologies Inc.