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 receipt of approval from the TSX Venture Exchange (the
“
Exchange”) to engage in the sale of smoking
accessories and hemp-derived CBD in the U.S. The Company continues
to undertake all necessary diligence to ensure compliance with
applicable state and federal laws and expects go-live for U.S.
customers at www.cannmart.com by the end of February 2021. Namaste
looks forward to leveraging its VendorLink technology in
collaboration with DankStop and PeakBirch Logic, Inc.
“The announcement of this expansion in the USA
underscores Namaste’s intention to increase its total addressable
market and exploration into other verticals as regulation evolves
and other adjacent complementary market opportunities present
themselves,” said Meni Morim, CEO of Namaste. “The expansion also
fits squarely into our evolution into a wellness company,
connecting consumers to their wellness needs of tomorrow.”
Mr. Morim added: “The Company is encouraged by
the recent statements of U.S. Senate Majority Leader Chuck Schumer
and his colleagues regarding seeking an end to cannabis prohibition
in the U.S. as a legislative priority: We obviously welcome the
news. It’s no secret that we intend to use this expansion as a
beachhead, applying our VendorLink platform with a view to new U.S.
wellness frontiers, including new nutraceutical products, by the
end of fiscal 2021, and, if Senator Schumer and friends are
successful and legislation permits, maybe one day cannabis.”
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.
Information on the Company and its many products
can be accessed through the links below:
NamasteTechnologies.com
NamasteMD.com
Cannmart.com
About DankStop
DankStop is the one of the world's largest and
fastest growing online smoking supply retailers. Nothing like your
ordinary headshop, DankStop is the quickest, cheapest, and easiest
way to get the best smoking supplies delivered discreetly to your
door. With an industry leading and innovative website, dedicated
support team, and the biggest product selection available online,
DankStop has single-handedly raised the bar for the online smoking
supply industry since 2014. From humble beginnings, our co-founders
started DankStop in "moms basement". Our founding vision was to
remove the "sketchy" stigma from the headshop industry by
providing high quality, low priced products in a simple and
transparent manner. Leveraging our in house technology, we now
offer a variety of B2B services for the Cannabis industry in
addition to our retail websites ranging from drop shipping to third
party logistics. Information on the Company and its many products
can be accessed through: www.dankstop.com
About PeakBirch Logic, Inc.
PeakBirch is a cohesive ecommerce technology
group scaling multiple online businesses to become internationally
successful brands. With a strong focus on consumer journey, deep
analytics and AI powered trend analysis PeakBirch unlocks the true
growth potential of customer-centric brands by providing revenue
acceleration with customer experience optimization via a lean
platform. Through a combination of the latest digital best
practices and a proven team, PeakBirch Logic is committed to
generating significant and sustained return on investor capital
over the long-term.
Information on the Company can be accessed
through: www.peakbirch.com
For more information please contact:Namaste
Technologies Inc.Meni Morim, CEOEdward Miller, VP Investor
RelationsPh: 647-362-0390Email: ir@namastetechnologies.com
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 Namaste’s proposed entry into the
United States markets for smoking accessories and hemp-derived CBD
via CannMart.com, Namaste's anticipated “go-live” date for U.S.
customers to make purchases through CannMart.com, Namaste's
intention to leverage its VendorLink technology in collaboration
with DankStop and PeakBirch Logic, Inc. and Namaste's proposed
expansion efforts. Such statements are made as of the date of this
press release and are based on assumptions that management believed
to be reasonable at the time, including, without limitation,
Namaste's ability to ensure compliance with applicable state and
federal laws with respect to the sale of smoking accessories and
hemp-derived CBD in the United States, Namaste's ability to
leverage its VendorLink technology in collaboration with DankStop
and PeakBirch Logic, Inc., anticipated continued improvements to
the regulatory landscape for the sale of cannabis, associated
products and accessories that will benefit Namaste’s business in
the United States and globally, Namaste's beliefs regarding the
expected demand for cannabis products and accessories and hemp
derived CBD products and the expected growth of that market
globally, 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 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 failure to
achieve the intended sales results and benefits from the Company’s
expansion efforts, regulatory risk both in the United States and
globally, including in particular regulations not evolving in a
manner to that would benefit Namaste’s business, 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.
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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