~Seedo's unique cultivator products join the
Namaste platform and bring the benefits of growing plants into the
home of global consumers~
TORONTO, Aug. 15, 2019 /CNW/ - Namaste Technologies
Inc. ("Namaste" or the "Company") (TSXV: N)
(FRANKFURT: M5BQ) (OTCMKTS: NXTTF) today announced that it has
signed a distribution and marketing agreement with Seedo Corp
(OTCQB: SEDO) subsidiary Eroll Grow Tech Ltd ("Eroll Grow
Tech") to market their Seedo home grow ("Seedo") product
through the Company's online marketplace. The Seedo products are
fully automated home grow devices, providing Namaste's global
customer base with the opportunity to enjoy the benefits of growing
plants in their own home.
"This innovative and ground-breaking product is a great addition
to Namaste's marketplace," said Meni
Morim, Interim CEO at Namaste Technologies. "Our goal is to
create the most unique and personalized experience for users
seeking innovative devices, and Seedo's home grow unit is ready for
European now and expected to launch on Namaste's Canadian
properties very soon".
"Given Namaste's extensive distribution experience and
wide-reach within the cannabis space, we are excited to work with
them," said Seedo CEO Zohar Levy. "We are setting our sights on new
market segments and successfully expanding around the world. This
relationship will introduce European consumers to automated growing
technology, and will give them the capabilities to grow their own
plants – hemp, vegetables, fresh herbs, and flowers – at home."
Seedo Products are already available from Namaste web properties
in Europe and are expected to
launch on CannMart.com and Namastevapes.ca in the third quarter of
2019.
About Namaste Technologies
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 is incorporated in its
platforms and related Uppy App, and completes its 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
multiple 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
About Seedo
Seedo is a market leading agritech company
providing the cannabis and agriculture industries with the world's
first fully automated and controlled indoor home growing machine
device for home-grow and commercial hemp, herbs and vegetables.
Seedo provides growers with the freedom to cut costs while
generating high yields of lab-grade, pesticide-free herbs and
vegetables. AI-powered, turnkey systems enable anyone from average
consumers to large-scale producers the ability to grow without
prior experience or ample space. The Seedo solution minimizes
cultivation costs by delivering maximum daylight illumination,
built-in carbon filters, automated air conditioning, and a smart
post-harvest drying system to users. Even in the harshest
environments or with limited space, cultivators can use Seedo's
intelligent technology to harvest the next generation of precision
agriculture. This software-driven technology will be extended to
large-scale farming solutions and including vertical farming. Seedo
is a publicly traded company backed by a group of international
investors including Cannabics Pharmaceuticals and is headquartered
in Israel. For more information,
visit http://www.seedo.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 regarding: (i) the
opportunity that the Seedo products provide to Namaste's global
customer base; (ii) the ability of the Seedo relationship to
introduce European consumers to automated growing technology and
their ability to grow plans at home; (iii) the expected launch date
of the Seedo Products through CannMart; (iv) the effectiveness of
Namaste's AI to identify products to address specific medical
cannabis requirements; (v) the yield of growers using Seedo
products; and (v) the potential extension of the Seedo technology
to large-scale farming solutions and its effects. 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.