Namaste Technologies Provides Corporate Update Including Launch of CannMart.com in French for Quebec and All Francophones in Canada
April 27th, 2021
TORONTO, April 27, 2021 (GLOBE NEWSWIRE) — 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 that CannMart.com has now been launched in french for the province of Quebec and across Canada. The Company also provides a further corporate update.
Launch of CannMart.com in French:
The Company is pleased that it has now launched a new french website for CannMart.com that will offer medical products to customers across the province of Quebec which is the second largest province in Canada and all francophones in Canada in the language of their choice. Of particular note is that at CannMart.com, Quebec residents qualifying for medical cannabis have access to certain cannabis products not otherwise available in the adult recreational market including edibles and vape cartridges. The Quebec cannabis market is sizable, with reported cannabis sales in the adult use recreational market alone for the three month period ending January 2, 2021 reaching in excess of $170 million as reported by the legislated monopoly holder for recreational cannabis sales within the province of Quebec.
This announcement marks an important step in CannMart.com’s commercial expansion, following months of building its portfolio and taking the necessary strategic measures to ensure proper supply of inventory. Staff have been hired from Quebec who are fully bilingual to offer customers an excellent experience with customers across Canada continue to enjoy the convenience of having their medical cannabis delivered directly to their home in a safe and convenient way.
Engagement of CannDelta for Health Canada Dealer’s Licence:
Namaste is pleased to advise that it’s wholly owned subsidiary CannMart Labs Inc. (“Labs”) has engaged CannDelta with respect to its application for a Health Canada Controlled Drugs and Substances Dealer’s Licence (a “Dealer’s Licence) for distribution of controlled substances such as psilocybin and psilocin. Namaste anticipates submission of the application by the end of May this year. Projected timeline for receipt of approvals is by the beginning of fiscal third quarter of 2022. Subject to Health Canada acceptance, a Dealer’s Licence could allow Labs to engage in a number of activities relating to the controlled substances referenced including the research and distribution of controlled substances and the sale of controlled substances to researchers and companies undertaking clinical trials.
Save the Date – Namaste Virtual Town Hall:
The Company would like to invite shareholders and guests to participate in attending a virtual town hall so they can hear a presentation on the progress made by the Company.
- Thursday, May 6, 2021
- 12:00 p.m. EST
- Presentation by Meni Morim followed by Q&A
- All Shareholders are invited to submit their questions by May 3rd to: email@example.com. Our CEO, Meni Morim, will answer submitted investors questions during the town hall event.
- Shareholders can access the event using the following link: http://bofc.me/may6townhall
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 US customers with access to hemp-derived CBD and smoking accessories. 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:
For more information please contact:
Namaste Technologies Inc.
Meni Morim, CEO
Edward Miller, VP Investor Relations
Source: Namaste Technologies Inc
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 distribution of products on cannmart.com and through CannMart provincial buyers are 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, without limitation, Namaste’s ability to maintain momentum of expanding the CannMart Inc. business, 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: regulatory risk, risks relating to the Company’s ability to execute its business strategy 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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