~Indiva's CBD Softgels and Indica Capsules
available on CannMart by the end of summer, with Bhang®
Chocolate and Wana™ Sour Gummies to follow in Q4~
TORONTO, Aug. 20, 2020 /CNW/ - Namaste Technologies
Inc. ("Namaste" or the "Company") (TSXV: N) (FRANKFURT: M5BQ)
(OTCMKTS: NXTTF), a leading online platform for cannabis
products, accessories, and responsible education, today announced
its wholly-owned subsidiary, CannMart Inc. ("CannMart"), has signed
an agreement with Indiva Inc., a wholly-owned subsidiary of
Indiva Limited ("Indiva") (TSXV:NDVA) (OTCQX:NDVAF), a
leading Canadian producer of cannabis edibles and other cannabis
products, to offer a selection of Indiva's products on CannMart's
B2C distribution channel for their medical customers.
"CannMart is increasing its reach into the legal Canadian
cannabis market and is a natural choice for our award winning
products," said Niel Marotta,
President and CEO, Indiva Limited. "Our softgels and capsules are
highly regarded for their consistency and quality and will be
available on the CannMart marketplace in late August. Later this
fall we look forward to introducing our award-winning Bhang®
Chocolate and Wana™ Sour Gummies to the CannMart product
universe."
"Indiva's CBD Softgels, Indica Capsules along with Bhang®
Chocolates and Wana™ Sour Gummies are a great addition to
CannMart," said Meni Morim, CEO of
Namaste Technologies Inc. "We have made tremendous inroads in both
the medical and recreational sales channels and the investment we
made in our processing and distribution facilities has allowed us
to expand our presence within the legal Canadian cannabis market.
As we add more high-quality Cannabis 2.0 products from leading
companies like Indiva, we look to drive additional customers,
suppliers and revenue to CannMart. We are excited to add these high
quality, innovative products to our Cannabis 2.0 category and will
work with Niel and his team to grow the Indiva product offering on
CannMart."
Indiva is a licensed producer of premium cannabis and cannabis
products, and a provider of production and manufacturing services
to third parties. Its state-of-the-art facility in London, Ontario includes
environmentally-conscious grow rooms and a production and
manufacturing space that produces safe, high-quality cannabis
products. Indiva produces and distributes high-quality and
award-winning Bhang® Chocolate, Wana™ Sour Gummies, Ruby® Cannabis
Sugar, Sapphire™ Cannabis Salt, and other derivative products
through license agreements and joint ventures.
Namaste is adding Indiva's product line to CannMart, its online
marketplace, as it continues to expand its Cannabis 2.0 product
offering. CannMart is an online marketplace carrying a large
selection of legal cannabis products and accessories from many of
the best cannabis producers in Canada and around the world. It is focused on
providing medical cannabis patients and adult-use enthusiasts with
access to the highest quality cannabis products available. CannMart
also prepares, packages and distributes cannabis products through
strategic relationships with leading government agencies.
Annual General Meeting
Shareholders are reminded that the Company will be holding its
annual general meeting ("AGM") in virtual online format only at
2:00 p.m. on Tuesday, September 29,
2020. Meeting materials are expected to be delivered and
filed shortly which will provide details on how to attend and vote
at the AGM. The Company is relying on the exemption in Ontario
Instrument 51-504 Temporary Exemption from Certain Requirements
to File or Send Securityholder Materials and equivalent
blanket orders granted in other jurisdictions where the Company is
a reporting issuer for the delay in complying with the annual
request form requirement, the executive compensation disclosure
requirement and the send-on-request requirements (as those terms
are defined in the blanket orders), which will be complied with
when the meeting materials for the AGM are delivered and filed.
About Indiva
Indiva sets the standard for quality and
innovation in cannabis. As a Canadian licensed producer, Indiva
creates premium pre-rolls, flower, capsules, and edible products
and provides production and manufacturing services to peer
entities. In Canada, Indiva
produces and distributes the award-winning Bhang® Chocolate, Wana™
Sour Gummies, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt and
other Powered by INDIVA™ products through license
agreements, partnerships and joint ventures. For more information
please visit: https://www.indiva.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 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
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, including statements
related to the expected availability of Indiva's products on
CannMart's B2C distribution channel and the Company's ability to
add more high-quality Cannabis 2.0 products in the future to drive
additional customers, suppliers and revenue to CannMart, 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, management's
perceptions of Indiva, its products and its standing in the
cannabis industry, the expectation by management that Indiva's
brand awareness among Namaste's existing and new customer base will
drive sales, the expected demand for Cannabis 2.0 products and the
growth of that market 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
operations, and risks relating to the market price of Namaste's
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.