Cannmart signs Product Acquisition Agreement with Custom Cannabis Inc

Cannmart Signals Product Acquisition Agreement with Custom Cannabis Inc

Namaste Technologies Inc. (TSXV: N) (OTCMKTS: NXTTF) is pleased to announce that the Company’s wholly-owned subsidiary, Cannmart Inc. (“Cannmart”) has signed a Product Acquisition Agreement (the”Agreement”) with Custom Cannabis Inc. (“Custom Cannabis”), whereby Cannmart will purchase packaged and tested cannabis products from Custom Cannabis to provide in Cannmart’s online marketplace.

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

Cannmart’s”sales-only” permit is the first of its kind in Canada to be issued to a non-cultivator, which allows Namaste to leverage its technology platforms and e-commerce expertise to sell medical cannabis procured from many different licensed producers throughout Canada. The addition of Custom Cannabis through this Agreement will further enhance Cannmart’s offering of high quality products. The Company continues to concentrate on securing supply agreements with licensed producers that will ensure product availability for the future.

With Namaste’s technology and Cannmart’s platform, the Company believes it is well-positioned to offer significant value to a broad assortment of licensed producers across Canada. The organization believes that Cannmart’s platform will create an even playing field for all cultivators that choose to take part in the platform by providing a sales channel with more exposure and transport across the country. As the business evolves, Namaste’s management team is confident in its ability to set itself apart as a true innovator in the cannabis e-commerce space.

Jeff Nielsen, CEO of Custom Cannabis remarks:”From seed to extraction, what we do believes the needs of patients that rely on finely-crafted medical breeds for the treatment of their conditions. We’re excited to know that individuals seeking medical cannabis made by expert growers can access the Custom Cannabis brand in an electronic marketplace that contrasts with our patient-first doctrine. We’re pleased to have reached this Agreement with Namaste.”

Sean Dollinger, President, and CEO of Namaste remarks:”We’re pleased to announce this Agreement with Custom Cannabis as we have been in discussions with them for many months and have a lot of confidence in their management staff. We look forward to offering their products available to our customers through Cannmart’s website. By leveraging our technology platforms, expertise in e-commerce and incredible customer support, we intend on improving the buying experience for medical patients and reinforcing our position as a global pioneer in cannabis e-commerce.”

Custom Cannabis is a Canadian medicinal cannabis producer growing cannabis for the world in Claresholm, AB. Custom Cannabis operates a 65,000 feet two purpose-built greenhouse designed to leverage nature’s elements for organic cannabis production, resulting in the maximum quality medical cannabis for the empowerment of patients on their journey toward wellness. 

About Namaste Technologies Inc..

Namaste Technologies is Your Everything Cannabis Store™. Namaste operates the largest global cannabis e-commerce platform with over 30 sites in 20+ countries under different brands. Namaste’s product offering through its subsidiaries includes vaporizers, glassware, accessories, CBD products, and medical cannabis in the Canadian industry.

Namaste has developed and developed innovative technology platforms such as NamasteMD.com, Canada’s first Health Canada compliant telemedicine application, and in May 2018 the Company acquired a leading e-commerce AI and Machine Learning Company, Findify AB. Findify uses artificial intelligence algorithms to optimize and personalize a consumer’s on-site purchasing experience. Namaste is focused on leveraging its cutting-edge technologies to improve the user experience during its platforms.  Namaste will continue to develop and acquire innovative technologies that will provide value to the organization and to its shareholders and to the wider cannabis industry.

On behalf of the Board of Directors

Chief Executive Officer

Direct: +1 604-355-6100

Additional 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 includes forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although these statements are based on management’s reasonable assumptions, Namaste assumes no responsibility to update or revise forward-looking data to reflect new events or circumstances unless required by law. Even though the Company believes that the expectations and assumptions on the forward-looking statements are based are reasonable, undue reliance should not be set on the forward-looking statements because the Company can provide no assurance that they will prove to be right. 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 this 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 that may be seen under the Company’s profile on www.sedar.com.

SOURCE Namaste Technologies Inc..

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Released at Thu, 01 Nov 2018 12:32:48 +0000

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