TORONTO, Feb. 8, 2019 /CNW/ - Namaste Technologies Inc.
("Namaste" or the "Company") (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS:
NXTTF) today provided the following letter to its shareholders.
Dear fellow shareholders,
I want to thank all our shareholders for your continued support
for our company over the past week. I know a lot of you have
questions about the future of Namaste.
In situations like this there is often a great deal of rumour
and speculation circling around. I want you to know the company
will provide updates whenever possible. I'd urge you to focus on
communications that you receive from the company and ignore the
rumours even though I know they can get loud.
I'd also ask you to focus on what really matters:
This is a fantastic company with great people, products and
prospects.
We have a strong, talented management team in place, and we all
believe the future of Namaste is bright. I'm incredibly humbled and
excited by the opportunity I have as Interim CEO to lead this
company forward, but it's truly not about me; Namaste is bigger
than any one individual.
We have great people across the company and a solid business.
With that in mind, and looking at our performance to date, we're in
a great position. Consider the following facts:
- Our team has not stopped innovating:
- We have powerful Artificial Intelligence capabilities that are
being deeply integrated into our customer experience – and we're
continuing development.
- We're developing Uppy version 2.0 based on feedback from our
customers.
- NamasteMD has been completely re-architected and will be
released in the coming weeks. This will improve performance, user
experience and enable rapid deployment in new markets.
- We're near completion of our ERP replacement project. This will
drive supply chain optimization, improved operational efficiency
and better reporting capabilities.
- We have a license to distribute medical cannabis in
Canada and strong supply
agreements. The selection on Cannmart continues to grow, and we are
working on improving the buying experience.
- Our business development team led by our Chief Strategy Officer
has a healthy pipeline of partnerships which will continue to
strengthen the position of the company.
- We have a strong cash position that enables us to execute on
our strategy and continue to innovate.
In short, the management team's focus continues to be on
executing our strategic plan, growing the business and creating
shareholder value for you, Namaste's owners. That is our
mandate, and we are moving full-steam ahead.
Thank you for your ongoing patience and support, and we'll
continue updating everyone as things progress.
Meni Morim, Interim CEO
About Namaste Technologies Inc.
Namaste Technologies powers the ultimate online customer
experience for medicinal cannabis and related products. Beginning
with NamasteMD.com, the Company's integrated telemedicine
application, we connect medical clients with health care
practitioners to more readily issue and renew cannabis
prescriptions online. Featuring the first Canadian Medical
Sales-Only Licence, the Company's own Cannmart.com is your
'everything cannabis store' offering clients a large variety of
strains to fill their prescription needs. Namaste's unique
artificial intelligence (AI) engine incorporated in its platforms
and related Uppy App, completes our ecosystem by identifying the
right product and pairing to address specific medical cannabis
requirements. Namaste also provides vaporizers and accessories
across several platforms operating in more than 20 countries.
Namaste's global technology addresses local needs in a burgeoning
cannabis industry requiring smart solutions. For more information
about Namaste, please visit www.Namastetechnologies.com
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 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", "will", "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, or by discussions of strategy. The forward-looking
information contained in this press release, includes, but is not
limited to, statements with respect to the Company's strategy of
leveraging its technologies and acquiring new innovative
technologies and the expected benefits thereof.
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, including management's
perceptions of 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 market price of the Common Shares and risk's relating to the
Company's ability to execute its business strategy and the benefits
realizable therefrom.
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.