Cannmart receives Health Canada's first ACMPR sales-only license

Cannmart receives Health Canada's first ACMPR sales-only Permit

Namaste Technologies Inc. (“Namaste” or the”Company”) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) is very happy to announce that the Company’s wholly-owned subsidiary, Cannmart Inc. (“Cannmart”) has obtained its Access to Cannabis for Medical Purposes Regulations (“ACMPR”) medical cannabis”sales-only” license (the”License”), that’s the first of its kind to be issued by Health Canada. The License is the part of its strategy for Cannmart and represents the most significant landmark in the history of the business to become Canada’s leading platform for medical cannabis.

Cannmart will operate as an online market for medical cannabis sourced from Licensed Producers, which can offer a curated selection of medical cannabis strains in one location to patients. Cannmart may also focus on developing structures with micro-cultivators who will offer craft breeds, subject to the upcoming regulations of the Cannabis Act and has procured over 13 domestic and international supply agreements. Cannmart’s objective is to offer the most diverse and largest selection of medical cannabis products available in the marketplace.

Further to the firm’s September 18(th) news release, Cannmart will be allowed to purchase pre-packaged, labelled and tested cannabis products. This development is significant for Cannmart in it will eliminate the need for purchasing in bulk, packaging and testing which will significantly reduce overhead costs and consequently increase profitability and gross profit margins. By allowing cannabis products to be purchased by Cannmart it can stay focused in technology and e-commerce, and further expand.

Namaste operates the largest global online market for cannabis consumption devices, with over 1.5 million customers globally. The business has acquired and developed industry-leading technology including its e-commerce AI platform, Findify.io (“Findify”) and NamasteMD (“NamasteMD.com”), which is Canada’s first medical cannabis consultation program available in both the Apple and Google Play Stores. The business plans to leverage its technology and expertise to deliver a user experience for each client. Medical patients will be able purchase and to onboard products.

With Namaste’s operations in more than 20 countries and consumer databases established in strategic areas such as the United Kingdom and Australia, the business is well-positioned to enlarge on its cannabis platform in launch telemedicine and cannabis e-commerce platforms in global markets in which the company maintains strong market share.

Namaste is very happy to announce it will be hosting a special edition live-stream Namaste 420 series on Sunday September 23(rd) at 7PM EST to talk Cannmart and the provider’s growth strategy with direction. To join the feed please visit the link below:

Management Commentary

Sean Dollinger, President and CEO of Namaste comments:”Today marks a massive achievement for the total Namaste team and our shareholders. Receiving our”sales-only” license not only validates the vision which we set forth to achieve over a couple of years ago, but it sets the stage for Namaste to become the first fully-integrated platform of its kind. Look forward to comments and we plan to soft-launch the website of Cannmart next week. I want to thank our investors for our management team including our staff at the Cannmart facility for their hard work and dedication and their patience. Namaste has never been better positioned to execute our strategy and to become the dominant global player in medical cannabis e-commerce.”

Namaste Technologies is trade & Your Everything Cannabis Store;. Namaste operates the global cannabis e-commerce platform with more than 30 sites in 20 countries under different brands. The product offering through its subsidiaries of namaste includes vaporizers, glassware, accessories goods, and the company will be selling medical cannabis.

Namaste has developed and obtained innovative technology platforms such as NamasteMD.com, and in May 2018 the Company obtained a leading 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 using its cutting-edge technology to improve the user experience during its platforms. Namaste will continue to develop and acquire advanced technologies which will provide value to its shareholders and to the Company and to the cannabis market that is wider.

“Sean Dollinger”

Chief Executive Officer

Further information on the Company and its products can be accessed via the links below:

NamasteTechnologies.com

NamasteMD.com

NamasteVapes.ca

Everyonedoesit.ca

FORWARD-LOOKING INFORMATION This press release contains forward-looking information based on current expectations. These statements shouldn’t be read as guarantees of future performance or results. Although such statements are based on management’s reasonable assumptions, Namaste assumes no responsibility to update or revise forward-looking information unless required by law, to reflect events or circumstances. Because the Company can give no assurance that they will prove to be correct although the Company believes that the assumptions and expectations on which the forward-looking statements are based are reasonable, undue reliance shouldn’t be set on the forward-looking statements. 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 the 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 may be seen under the Company’s profile on www.sedar.com (http://www.sedar.com).

Published at Fri, 21 Sep 2018 21:00:49 +0000

Posted in: News

Comments are closed.