NAMASTE SUBMITS HEALTH CANADA ACMPR AFFIRMATION OF READINESS
March 05 2018 - 9:49AM
InvestorsHub NewsWire
NAMASTE SUBMITS HEALTH CANADA ACMPR AFFIRMATION OF
READINESS
Vancouver, BC -- March 5, 2018 -- InvestorsHub NewsWire --
Namaste Technologies Inc. (“Namaste” or the
“Company”) (CSE: N)
(FRA: M5BQ) (OTCMKTS:
NXTTF) is pleased to announce that the Company’s wholly-owned
subsidiary, Cannmart Inc. (“Cannmart”) has submitted its
Affirmation of Readiness (“AOR”) and video evidence package to
Health Canada. Cannmart is a late-stage applicant for a medical
cannabis “sales-only” license under Canada’s Access to Cannabis for
Medical Purposes Regulation (“ACMPR”). The purpose of the AOR is to
provide evidence to Health Canada that Cannmart has completed
construction and fit-up of the facility as per the application.
Having submitted the AOR, the Company anticipates Health Canada’s
review of the evidence package in due course and issuance of its
ACMPR production license shortly thereafter. The AOR represents a
significant milestone for the Company in the completion of the
construction of Cannmart’s facility.
Management Commentary
Sean Dollinger, President, and CEO of Namaste
comments; “We are very pleased to have completed
construction of Cannmart and submission of the AOR. Namaste is
looking forward to launching Cannmart and following through with
our strategy to become Canada’s leading innovator in medical
cannabis online retail. Thank you to the management team at
Cannmart for seeing this project through to completion and we’re
looking forward to receiving follow up from Health Canada
soon.”
About Namaste Technologies Inc.
Namaste is the largest online retailer of medical cannabis
delivery systems globally. Namaste distributes vaporizers and
smoking accessories through 24 e-commerce sites in 20 countries and
with 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 sales (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.
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
namastevapes.ca
everyonedoesit.ca
namastevaporizers.co.uk
everyonedoesit.co.uk
australianvaporizers.com.au
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, Namaste 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 www.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
harbour provisions of the Private Securities Litigation Reform Act
of 1995. The Canadian Securities Exchange has neither reviewed nor
approved the contents of this press release.