TORONTO, July 19, 2019 /CNW/ - Namaste Technologies
Inc. ("Namaste" or the "Company") (TSXV: N)
(FRANKFURT: M5BQ) (OTCMKTS: NXTTF) today announced the signing of
three new agreements with Canadian licensed producers
("LP"), further expanding the breadth of products
offered within its online cannabis marketplace. Included in the
list of new LPs is Agro-Greens Natural Products Ltd.
("Agro-Greens"), of Macklin,
SK and PureSinse Inc. ("PureSinse") of Brampton, ON. The Agro-Greens and Puresinse
agreements help solidify Namaste's, and its online platform
CannMart's, new fee-based model based on consignment versus
traditional buy and sell. This new model allows CannMart to manage
working capital and the LPs to retain their brand loyalty.
![Namaste Technologies Inc. (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) (CNW Group/Namaste Technologies Inc.) Namaste Technologies Inc. (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) (CNW Group/Namaste Technologies Inc.)](https://mma.prnewswire.com/media/949265/Namaste_Technologies_Inc__CannMart_Provides_Update_on_New_Produc.jpg)
These new agreements highlight the company's value proposition
to LPs, enabling them to be vertically integrated within the
CannMart platform and providing the infrastructure to deliver
products to a new and larger audience. CannMart started sales on
Oct 17, 2018 when cannabis legalized
with 2 LP's, only 3 strains and 11 SKU's. Today CannMart has supply
agreements with 15 LP's, over 39 strains, and 170 SKU's. Outside of
Canada, the company has existing
supply relationships in Columbia, Australia and Israel, with imports pending government
approval.
"The commitment and investment that we have made in our people
and technology is beginning to pay dividends," stated Meni Morim, interim CEO of Namaste. "Licensed
producers are increasingly recognizing this commitment, and see the
value in our platform. As our end-to-end business proposition
continues to develop, we are on track and focused to become the
world's most customer focused marketplace for cannabis and cannabis
accessories".
Originally focused on dried flower and pre-rolls, the company
has continued to differentiate itself through expanding into new
product categories, including hemp pet food, and other every day
cannabis accessories. The onboarding of LP's to CannMart has
allowed the platform to offer additional products from new and
existing LPs, with over 100 products added since the beginning of
the year.
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, Namaste connects
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 several
countries. Namaste's global technology addresses local needs in a
burgeoning cannabis industry requiring smart solutions. For further
information about Namaste, please log onto
www.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 in this press release,
includes, but is not limited to, statements related to government
approvals, working capital management, and customer retention. 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 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
the 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.