FOR IMMEDIATE RELEASE JULY 19TH, 2018
Vancouver, British Columbia, Canada – Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) is Namaste is pleased to announce that the company has submitted applications to the Apple and Google Play stores in order to launch its latest mobile application, Uppy Cannabis Journal. Uppy Cannabis Journal is the first artificial intelligence (“AI”) driven medical cannabis app, which is designed to collect direct feedback on cannabis strains and over time provide strain and cannabis hardware recommendations. Namaste has implemented its AI technology through the Company’s wholly owned subsidiary Findify AB (“Findify” or “Findify.io”) and has fed over 2 million pieces of unique data to the platform which forms the base on which the algorithm will evolve and adapt itself to better understand the effects of cannabis strains in relation to treatment of many symptoms.
Through Uppy Cannabis Journal, Namaste’s customers and medical cannabis patients will have the access to journal their experiences using various strains of cannabis to treat their symptoms. The data collected over time will allow the algorithm to characterize the way different strains of cannabis benefit different people suffering from different symptoms. The goal of the Uppy Cannabis Journal is to develop a shopping experience whereby patients are provided with the best possible strain recommendations personalized for their needs, based on factual data collected through Namaste’s network of e-commerce sites, combined with user-feedback and AI technology.
Namaste will leverage its database of over 1.5 million consumers on a global scale to collect as much patient and strain data as possible. The implementation of AI technology in strain recommendations opens the door to a deeper level of understanding in how cannabis and different strain profiles treat medical symptoms. Namaste is well-positioned with its expansive international database of cannabis consumers to develop the Uppy Cannabis Journal app to a platform that ultimately will serve to benefit cannabis patients on a global scale. Once the app is approved by Apple and Google, Namaste will begin a marketing program to drive traffic from its own sites to Uppy Cannabis Journal and to attract new users through various digital marketing strategies.
The Company remains focused on developing innovative technologies like Uppy Cannabis Journal and NamasteMD, that provide value to Namaste and its shareholders but also bring great value to the industry, the Company’s peers and patients across the globe. Namaste is keen to differentiate itself in an industry focused on cultivation, as a leader in cannabis technology. Uppy Cannabis Journal provides Namaste with a tool to leverage its e-commerce platform to collect valuable data. Furthermore, the integration of Findify’s AI technology with Uppy Cannabis Journal is a ground-breaking event that will fuel a deeper level of understanding for cannabis patients.
Real-world applications of AI are best suited for implementation in e-commerce, healthcare and logistics environments. With Namaste’s large base of online traffic, the Company can collect substantial data in relation to cannabis patients and strains that will be leveraged using the most innovative AI technology in the market. Namaste will be the first company to dive deep into this exciting area of the industry and in enhancing the user experience for medical patients by providing more relevant recommendations based on the specific needs of individual patient’s. The Company will be able to immediately monetize the data collected by integrating Uppy Cannabis Journal with its e-commerce platform and its upcoming medical cannabis “sales-only” license through the Company’s wholly owned subsidiary and Access to Cannabis for Medical Purposes (“ACMPR”) applicant, Cannmart Inc.
Chad Agate, CTO of Namaste comments; “The coming launch of Uppy Cannabis Journal represents the next phase of our integration of the Findify AI team into the Namaste platform core – applying machine learning models to help our users have the best cannabis experience in the world. I’m very proud of our world-class team of engineers and designers. We are spending time looking at how we are using technology today during interactions with our customers and focused on how the value of that moment could be increased. For the dedicated Namaste team, machine learning and AI is not about providing novel tools anymore, it is about creating a new type of organization. Our role model is Amazon, which has been able to apply its formula of automation, innovation and data-driven everything to solve seemingly unrelated business issues.”
Sean Dollinger, President and CEO of Namaste comments; “This is a very exciting moment for Namaste. Our acquisition of Findify will now show true value to the cannabis industry. Imagine having a platform which has been developed with millions of data points and that uses machine learning algorithms to gain a better understanding of the complex relationships between cannabis strain profiles and treating patient symptoms. We believe that that the Uppy platform will provide better strain recommendations for patients based on actual data that we can collect and analyze using some of the most advanced AI technology on the market today. Each cannabis strain has its own unique profile of cannabinoids and terpenes which define the characteristics of the particular strain and how it impacts patients on an individual basis.
Namaste is leading the industry in developing the most valuable technology platforms and in collecting data on a global scale that serves the Company, its consumers, patients and shareholders. I truly believe that this is something we should be proud of as a company and I feel confident Uppy will help better educate patients from across the globe by assisting them in making more informed decisions. We believe our users will find incredible value in this revolutionary educational tool which we will believe is essential in building patient trust and loyalty. Our ability to allow our patients real-time feedback is very exciting, as we once again lead the industry in new initiatives designed with a “patient first mentality” in mind. This was the last step needed in Namaste’s sales funnel and in creating a personalized consumer experience. I’d like to thank our Technology team at Namaste and our incredible CTO Chad Agate who continues to create and innovate incredible technology that will provide long term value to the Company.”
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.
On behalf of the Board of Directors
Chief Executive Officer
Direct: +1 (786) 389 9771
Email: [email protected]
Further information on the Company and its products can be accessed through the links below:
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