– Continued validation of CannMart.com as a platform for Canadian cannabis –
TORONTO, February 11, 2021 – Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) a marketplace platform for cannabis and wellness products, is pleased to announce the expansion of its product range to Canadian medical customers at CannMart.com with the addition of leading licensed producers: Auxly Cannabis Group Inc. (“Auxly”) and The Green Organic Dutchman Holdings Ltd. (“TGOD”). As well as expanding the product offering at CannMart.com with products from market leading licensed producers, the Company is also pleased to welcome carefully selected craft cannabis producers that bring new and exciting products, most recently Wabi Sabi Brands LTD. (“Wabi Sabi”). Those registered at CannMart.com can expect new products from Auxly, TGOD and Wabi Sabi to become available in March 2021.
“We are seeing more and more licensed producers and accessories suppliers contacting us to have their products featured on CannMart.com as they realize that this will give them a first mover advantage on the platform for which they can build their audience at an accelerated rate,” said Meni Morim, CEO of Namaste. “This growing validation of our platform is certainly rewarding for our organization. As we witness shifting sands in the cannabis industry dynamics, licensed producers are searching for opportunities to streamline their distribution channels. We believe companies cannot be everything for everyone, which is why we are here to empower our partners to accelerate the growth of this industry as a whole.”
“We are pleased to welcome many new companies including, Auxly, TGOD and Wabi Sabi to CannMart.com. We continue to leverage our Marketplace Platform, VendorLink, as many new companies are increasingly seeing the added value Namaste’s innovative technology can bring to their organizations,” said Chad Agate, CTO and VP, Marketplace of Namaste Technologies. “We look forward to working closely with our new partners to expand their reach to Canadian cannabis consumers.”
About Namaste Technologies Inc.
Headquartered in Toronto, Canada, Namaste Technologies is a marketplace platform for cannabis and wellness products. At CannMart.com, the Company provides Canadian medical customers with a diverse selection of hand-picked products from a multitude of federally licensed cultivators and will provide US customers with access to smoking accessories and hemp-derived CBD. The Company also distributes licensed and in-house branded cannabis and cannabis derived products in Canada through a number of provincial government control boards and retailing bodies and facilitates licensed cannabis retailer sales online in Saskatchewan. Namaste’s global technology and continuous innovation address local needs in a burgeoning cannabis industry requiring smart solutions.
For more information please contact:
Namaste Technologies Inc.
Meni Morim, CEO
Edward Miller, VP Investor Relations
Email: [email protected]
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, including, without limitation, statements related to the expected timeframe for the availability of new products on CannMart.com, is made as of the date of this press release and is based on assumptions management believed to be reasonable at the time, including, without limitation, Namaste’s technological abilities to make available for sale new products on its CannMart marketplace in a timely manner as well as the ability of its new partners to fulfil orders for those same products, 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 its 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: the inability of the Company to bring on new products for sale on its CannMart marketplace from March 2021, risks relating to the Company’s ability to execute its business strategy and plans and the benefits realizable therefrom and risks specifically related to the Company’s operations. 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.
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