~Phyto products to be sold through
CannMart's online marketplace and distribution partners~
TORONTO, Dec. 2, 2019 /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
that its majority owned subsidiary, CannMart Labs Inc. has entered
into an exclusive licensing agreement with a BC numbered company
dba Phyto Extractions ("Phyto"). The agreement grants CannMart Labs
Inc. with an exclusive licence to use Phyto trademarks on certain
cannabis products such as cannabis vaporizing pen cartridges and
batteries; cannabis capsules; and cannabis tincture bottles and
jars. The agreement provides that CannMart Labs Inc., until such
time as it may obtain a production license, may assign such rights
under the agreement to Namaste's wholly-owned subsidiary CannMart
Inc.
"Phyto Extractions is an established brand name in the Canadian
cannabis marketplace and we welcome their innovative products to
the CannMart everything cannabis store and distribution channel,"
said Meni Morim, CEO of Namaste
Technologies Inc. "Competition is heating up in Canada with the upcoming launch of cannabis
derivative products following recent regulations referred to as
Cannabis 2.0 and Namaste is committed to working with leading
cannabis brands, such as Phyto, to get high quality products to
customers. Phyto has a history in the Canadian marketplace and is
well known with our current customer base. Namaste expects this
product recognition to drive future sales with existing and new
customers on the CannMart website and throughout our network of
government partners."
Namaste is adding Phyto's product line to CannMart, its online
marketplace, as it continues to aggressively expand its online
product offering. CannMart is Canada's online 'everything cannabis store'
which carries one of the largest selections of legal cannabis
products from established 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. Namaste
is always seeking to expand and improve the CannMart online
marketplace through new products, retailers and online experiences.
CannMart also prepares, packages and distributes cannabis products
through strategic relationships with leading government agencies.
Phyto products are expected to be available on CannMart.com on
December 17, 2019.
About Phyto Extractions
Phyto Extractions is an
awarding winning, premium grade cannabis Company based in
Canada. The company was formed
over 5 years ago and was the 1st place winner of the Karma Cup
in 2015.
About Namaste Technologies Inc.
With headquarters in
Toronto, ON, and offices in both
B.C. and around the globe, 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. For further information about Namaste,
please visit NamasteTechnologies.com
Information on the Company and its many products can be accessed
through the links below:
NamasteTechnologies.com
NamasteMD.com
Cannmart.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", "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 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, any future production
license grant to CannMart Labs Inc., management's perceptions of
Phyto and its standing in the cannabis industry, the anticipated
launch of cannabis derivative products through government
regulation, the expectation by management that Phyto's brand
awareness among Namaste's existing and new customer base will
driver sales, the availability and timing of Phyto's products on
CannMart's website, 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
international operations, and risks relating to the market price of
Namaste 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.