VANCOUVER, British Columbia,
September 7, 2018 /PRNewswire/ --
Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV: N)
(FRANKFURT: M5BQ) (OTCMKTS: NXTTF) is pleased to announce that the
Company has signed a purchase agreement (the "Purchase Agreement")
with Tilray Canada Ltd., a subsidiary of Tilray
Inc. (NASDAQ: TLRY), whereby the Company will purchase bulk
medical cannabis products from Tilray, to be sold on Namaste's
e-commerce platform through its wholly-owned subsidiary Cannmart
Inc. ("Cannmart").
With Cannmart's anticipated sales license imminent, the Company
continues to aggressively seek and secure partnerships with the top
global ACMPR Licensed Producers as it looks to implement its
strategy. The Supply Agreement with Tilray Canada will add
significant value to Cannmart's current product offering, and
Namaste is incredibly excited to be able to offer patients Tilray's
selection of high quality, pharmaceutical-grade medical cannabis
products.
Tilray is a global leader in the research, cultivation,
production and distribution of cannabis and cannabinoids, and
currently serve tens of thousands of patients in eleven countries,
spanning five continents. The Supply Agreement represents a
significant milestone for Namaste and paves the way for future
partnerships in global markets where the Company maintains strong
market share.
Namaste remains committed to all of its medical cannabis
patients by providing the most comprehensive patient experience
possible through its online platform. By supplying inventory to
Cannmart, Tilray's high-quality products will be available to
Cannmart's patients. This partnership will not only allow patients
on Namaste's platform to select from Tilray's variety of
high-quality medical cannabis products, but so too will it add
significant value for Cannmart's patients and the Company as a
whole.
The Company continues to integrate leading technology platforms
including its online patient portal, NamasteMD ("NamasteMD.com")
and its proprietary AI technology, with the goal of providing its
patients with the most expansive product offering in the industry.
The Company recently launched My Uppy Cannabis Journal, which is an
AI-driven patient feedback app (available for Apple and Android
devices). In doing so, Namaste believes that it has the capability
of offering its patients an exceptional buying experience that can
be personalized to meet each patient's individual needs.
Management Commentary
Sean
Dollinger, President and CEO of Namaste comments:
"We're very proud to have signed a Purchase Agreement with Tilray,
who we believe are one of Canada's
leading Licensed Producers. We have already had customers from
NamasteMD ordering products through Tilray and the response has
been overwhelmingly positive. As such, we are looking forward to
offering Tilray's high-quality products in our platform.
Namaste's goal of becoming Canada's leading medical cannabis e-commerce
platform has once again been reinforced through the signing of this
strategic Supply Agreement with an industry leader like Tilray.
Namaste feels incredibly lucky to have the opportunity of working
with a true pioneer to the industry. We're looking forward to
offering Tilray's products to our patients and in providing an
exceptional user experience for each and every patient through
Cannmart.com."
About Tilray
Tilray is a global pioneer in the research, cultivation,
production and distribution of cannabis and cannabinoids currently
serving tens of thousands of patients in eleven countries spanning
five continents.
About Namaste Technologies Inc.
Namaste Technologies is Your Everything Cannabis
Store™. Namaste operates the largest global cannabis
e-commerce platform with over 30 websites in 20+ countries under
various brands. Namaste's product offering through its subsidiaries
includes vaporizers, glassware, accessories, CBD products, and the
company will soon be selling medical cannabis in the Canadian
market, subject to approval by Health Canada.
Namaste has developed and acquired innovative technology
platforms including NamasteMD.com, Canada's first Health Canada compliant
telemedicine application, and in May
2018 the Company acquired a leading e-commerce AI and
Machine Learning Company, Findify AB. Findify uses artificial
intelligence algorithms to optimize and personalize a consumer's
on-site buying experience. Namaste is focused on leveraging its
cutting-edge technology to enhance the user experience throughout
its platforms. Namaste will continue to develop and acquire
innovative technologies which will provide value to the Company and
to its shareholders as well as to the broader cannabis
market.
Further information on the Company and its products can be
accessed through the links below:
NamasteTechnologies.com
NamasteMD.com
NamasteVapes.ca
Everyonedoesit.ca
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 harbor
provisions of the Private Securities Litigation Reform Act of 1995.
The TSXV has neither reviewed nor approved the contents of this
press release.
On behalf of the Board of Directors
Sean Dollinger,
Chief Executive Officer
Direct: +1-604-355-6100
Email: info@namastetechnologies.com