VANCOUVER, British Columbia, Oct. 12, 2017 (GLOBE NEWSWIRE) -- Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N) (FRA:M5BQ) (OTC:NXTTF) is pleased to announce signing of an exclusive agreement with Authenticating.com (“Authenticating”) whereby Namaste has secured exclusive Canadian rights to Authenticating’s identity verification technologies for the purpose of verifying medical cannabis patients on NamasteMD.com (“Namaste MD”).
Namaste has developed an enterprise quality software application that incorporates instant age and identity verification and facial recognition that is applicable not only for the medical cannabis market but also as a solution for age verification in online recreational cannabis sales. In addition to the implementation for Namaste MD, Namaste believes that it can gain greater exposure to the estimated $8.7 billion recreational cannabis marketplace by providing the best solution for provincial governments in offering reliable and automated age verification for provincially mandated online recreational cannabis portals.
Namaste has implemented a multi-level identity verification system on Namaste MD for patient consultations that includes facial recognition technology and verification by scanning an identifying document (“ID”) and instantly checking it against a self-portrait and authoritative Canadian databases. Identity and age verification is a critical component of Namaste’s platform. Namaste MD connects potential medical patients with doctors through a Telehealth application, in order to facilitate a smooth process for issuing of medical prescriptions.
Authenticating’s technology will be integrated directly with Namaste MD via API, to provide high confidence, low friction, automated identity verification. The verification process will use facial recognition technology to compare the patient’s face to the photo in the ID provided. The barcode on the ID is scanned and the data extracted is instantly checked against Canadian consumer, utility and electoral databases.
Namaste MD is Canada’s first Telehealth program focused on connecting medical cannabis patients with doctors to facilitate a smooth and secure process for consultations, verification and issuance of medical prescriptions. The Namaste MD portal will provide access for many doctors to participate in consultations across all provinces in Canada. Namaste plans to leverage customer data and e-commerce expertise to build a strong patient network that will be serviced through Namaste’s wholly-owned subsidiary, Cannmart Inc. (“CannMart”).
Authenticating.com Founder and CEO Steven Ward comments: “We're excited to partner with Namaste MD to provide medical marijuana patients in Canada a way to privately prove their identity online while minimizing the amount of personal information they need to share.”
Authenticating.com™ provides Authenticating as a Service for peer-to-peer exchanges, two sided marketplaces, online communities and other apps, sites and service providers worldwide. Through the Authenticating.com API genuine individuals can instantly self-verify their phone number, email, social media, photos, true identity and age where government data is available. US residents can authorize national sex offender and criminal records checks as well as financial background checks based on the implementations of our client partners. The Authenticating.com SDK supports iOS, Android and web based integrations.
Sean Dollinger, President and CEO of Namaste comments: “We believe that Namaste MD is a revolutionary platform that will change the way patients and doctors connect, by offering an online portal accessible from the comfort of their home. We plan to accumulate thousands of patients in the platform going forward and into the new year. Now that we have the platform developed and with major progress on CannMart, we believe that Namaste MD, in combination with CannMart and our existing database of customers, will provide a competitive edge for Namaste in the Canadian market. We will also plan on exploring opportunities in working with the federal and provincial governments to provide a much-needed solution for identity and age verification for online recreational cannabis sales.”
About Namaste Technologies Inc.
Namaste is the largest online retailer for medical cannabis delivery systems globally. Namaste distributes vaporizers and smoking accessories through e-commerce sites in 26 countries and with 5 distribution hubs located around the world. Namaste has majority market share in Europe and Australia, with operations in the UK, US, Canada and Germany and has opened new supply channels into emerging markets including Brazil, Mexico and Chile. Namaste, through its acquisition of Cannmart Inc., a Canadian based late-stage applicant for a medical cannabis distribution license (under the ACMPR Program) is pursuing a new revenue vertical in online retail of medical cannabis in the Canadian market. Namaste intends to leverage its existing database of Canadian medical cannabis consumers, along with its expertise in e-commerce to create an online marketplace for medical cannabis patients, offering a larger variety of product and a better user experience.
On behalf of the Board of Directors
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FORWARD LOOKING INFORMATION This press release contains 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 such statements are based on management's reasonable assumptions, Namaste assumes no responsibility to update or revise forward looking information to reflect new events or circumstances unless required by law. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. 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 which can be found under the Company's profile on www.sedar.com. This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press release.