/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
TORONTO, Aug. 18, 2020 /CNW/ - Namaste Technologies
Inc. ("Namaste" or the "Company") (TSXV: N) (FRANKFURT: M5BQ)
(OTCMKTS: NXTTF), a leading platform for cannabis products,
accessories, and education, announced today that it has filed a
preliminary short form base shelf prospectus with the securities
regulatory authorities in each of the provinces of Canada, except Quebec (the "Securities
Regulators").
The base shelf prospectus, when made final, will allow
Namaste to qualify the distribution by way of a prospectus of up to
C$90 million of common shares,
preferred shares, debt securities, subscription receipts, warrants
and units, or any combination thereof, from time to time, during
the 25-month period that the final short form base shelf prospectus
(the "Base Shelf Prospectus") is effective. The specific
terms of any offering under the Base Shelf Prospectus will be
established in a prospectus supplement, which will be filed with
the applicable Securities Regulators in connection with any such
offering. The Company has filed this base shelf prospectus to
maintain financial flexibility to access capital quickly, when
available and needed, but the Company has no immediate intention to
undertake an offering.
No securities may be sold nor may offers to buy be accepted
prior to the time at which a receipt for the Base Shelf Prospectus
is obtained from the Securities Regulators. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy securities, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification
under the securities laws of any such jurisdiction.
A copy of the preliminary short form base shelf prospectus can
be found under the Company's profile on SEDAR
at www.sedar.com.
About Namaste Technologies Inc.
With headquarters in
Toronto, Canada, Namaste
Technologies is a leading online platform for cannabis products,
accessories, and responsible education. The Company's 'everything
cannabis store', CannMart.com, provides medical 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
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 news release.
CAUTION REGARDING FORWARD LOOKING STATEMENTS
This news release includes statements containing certain
"forward-looking information" within the meaning of applicable
securities law ("forward-looking statements"). Forward-looking
statements are frequently characterized by words such as "plan",
"continue", "expect", "project", "intend", "believe", "anticipate",
"estimate", "may", "will", "potential", "proposed" and other
similar words, or statements that certain events or conditions
"may" or "will" occur and include, but are not limited to,
statements regarding the filing and effectiveness of a final Base
Shelf Prospectus, the filing of any potential prospectus
supplement; the amount and terms of any securities to be offered,
and anticipated timing of any financing under the final Base Shelf
Prospectus. These statements are only predictions. Various
assumptions were used in drawing the conclusions or making the
projections contained in the forward-looking statements throughout
this news release. Forward-looking statements are based on the
opinions and estimates of management at the date the statements are
made, and are subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements,
including but not limited to, the timing and filing of a final Base
Shelf Prospectus; the issuance of a receipt for a final Base Shelf
Prospectus; the potential offering of any securities by the
Company; uncertainty with respect to the completion of any future
offering; the ability to obtain applicable regulatory approval for
any contemplated offerings; the ability of the Company to negotiate
and complete future funding transactions, as well as the risks
identified under the heading Risk Factors in the Company's Annual
Information Form for the fiscal year ended November 30, 2019. The Company is under no
obligation, and expressly disclaims any intention or obligation, to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
expressly required by applicable law.
SOURCE Namaste Technologies Inc.