Cannmart announces asset purchase agreement with Buds2go.ca

Namaste Technologies Inc. (TSXV: N) (OTCMKTS: NXTTF) is very happy to announce that the business’s wholly-owned subsidiary, Cannmart Inc. (“Cannmart”) has signed an Asset Purchase Agreement (the”Agreement”) with 1181530 BC Ltd. to obtain the domain Buds2go.ca. Subject to the terms of the Agreement, Cannmart bought the Buds2go.ca domain together with social media accounts and all intellectual property in connection therewith including trademark applications in exchange for a cash payment of $300,000. The 1181530 BC Ltd. management group signed a 6-month consulting agreement to help with operations and integration.

Namaste Technologies Inc. (CNW Group/Namaste Technologies Inc.)

The acquisition of Buds2go.ca is strategic in nature as the domain has established high-ranking organic search results for many targeted and valuable keywords, and supports the Company’s vision to become a global leader in cannabis e-commerce and technology. The Buds2go.ca domain receives approximately 400,000 website visits per month, with an average visit duration of 6 minutes and a bounce-rate of roughly 31%. The website visits, search traffic and SEO rankings of Buds2go.ca would be difficult to replicate and provide strong long-term value for the company.

The Company is pleased to report that it’s also concurrently completed an integration with the Buds2go.ca domain and has established a new website which is powered by Cannmart. This will allow patients to purchase products from Buds2go.ca through a controlled channel and have access to stock fed directly through Cannmart. Further to the Company’s October 29th, 2018 news release, Cannmart signed a Patient Services Agreement (the”Services Agreement”) with 1181530 BC Ltd. to provide users access to the Company’s online telemedicine platform, NamasteMD Inc.. .

Buds2go.ca has established strong organic search results and preserves a high degree of domain authority. The domain ranks 3 in search results for important keywords that drive traffic that is organic and bring value to the website. The business will operate both Cannmart.com and Buds2go.ca in parallel and will continue to work to expand on the product offering and seem to creating value for patients in enhancing their online experience.

Sean Dollinger, President and CEO of Namaste comments:”We’re very excited about this deal. Buds2go.ca has some of the best SEO and natural search traffic we have ever seen. This brings an immense amount of value to our vision of becoming a in the sale of cannabis online. Our goal is to enhance the user experience and integrate innovative technology such as our AI and machine learning platform, Findify AB (Findify.io) to customize a patient’s experience and provide them the best selection of products available. We’re excited about expanding the product offering and have received a lot of positive comments on our Craft Cannabis Program which we believe will drive growth for Buds2go.ca and Cannmart.com in the future.”

Namaste Technologies is commerce & Your Everything Cannabis Store;. Namaste operates the largest cannabis e-commerce platform with more than 30 websites in 20 countries under various brands. The product offering through its subsidiaries of namaste includes vaporizers, glassware, accessories, CBD products, and cannabis from the industry.

Namaste has developed and acquired innovative technology platforms such as NamasteMD.com, and in May 2018 the Company acquired a top e-commerce AI and Machine Learning Company, Findify AB. Findify uses artificial intelligence algorithms to optimize and customize a consumer’s on-site purchasing experience. Namaste is focused on leveraging its technology to enhance the user experience during its platforms.  Acquire and namaste will continue to develop innovative technologies which will provide value to its shareholders and to the Company and to the cannabis industry that is broader.

“Sean Dollinger”
Chief Executive Officer
Direct: +1 604-355-6100
Email: info@namastetechnologies.com
Additional information on the business and its products can be accessed through the links below:
NamasteTechnologies.com
NamasteMD.com
NamasteVapes.ca
Everyonedoesit.ca

This news release may contain”forward-looking information” and”forward-looking statements” within the meaning of applicable Canadian securities legislation. All information contained may constitute forward-looking information. Forward-looking statements herein include but aren’t limited to statements about the acquisition of Buds2go.ca or the corresponding assets, and are necessarily based upon a variety of assumptions that, while considered reasonable by management, are inherently subject to company, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

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SOURCE Namaste Technologies Inc..

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Released at Wed, 21 Nov 2018 13:59:16 +0000

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