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Namaste Submits Affirmation of Readiness to Health Canada

March 5, 2018

 

VANCOUVER, British Columbia, March 05, 2018 (GLOBE NEWSWIRE) -- Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N) (FRA:M5BQ) (OTC:NXTTF) is pleased to announce that the Company’s wholly owned subsidiary, Cannmart Inc. (“Cannmart”) has submitted its Affirmation of Readiness (“AOR”) and video evidence package to Health Canada. Cannmart is a late-stage applicant for a medical cannabis “sales-only” license under Canada’s Access to Cannabis for Medical Purposes Regulation (“ACMPR”). The purpose of the AOR is to provide evidence to Health Canada that Cannmart has completed construction and fit-up of the facility as per the application. Having submitted the AOR, the Company anticipates Health Canada’s review of the evidence package in due course and the issuance of its ACMPR sales license shortly thereafter. The AOR represents a significant milestone for the Company in completion of the construction of Cannmart’s facility.

 

Management Commentary

 

Sean Dollinger, President and CEO of Namaste comments; “We are very pleased to have completed construction of Cannmart and submission of the AOR. Namaste is looking forward to launching Cannmart and following through with our strategy to become Canada’s leading innovator in medical cannabis online retail. Thank you to the management team at Cannmart for seeing this project through to completion and we’re looking forward to receiving follow up from Health Canada soon.”

 

About Namaste Technologies Inc.

 

Namaste is the largest online retailer for medical cannabis delivery systems globally. Namaste distributes vaporizers and smoking accessories through 24 e-commerce sites in 20 countries and with distribution hubs located around the world. Namaste has majority market share in Europe and Australia, with operations in the UK, 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 sales 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

 

“Sean Dollinger”

 

Chief Executive Officer

 

Direct: +1 (786) 389 9771
Email: info@namastetechnologies.com 

 

Further information on Namaste and its products can be accessed through the links below:

 

namastetechnologies.com
namastevapes.ca
everyonedoesit.ca
namastevaporizers.co.uk
everyonedoesit.co.uk
australianvaporizers.com.au

 

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 harbour provisions of the Private Securities Litigation Reform Act of 1995. The Canadian Securities Exchange has neither reviewed nor approved the contents of this press release.

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Disclaimer: Except for the historical information and data presented herein, matters discussed in articles on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future performance or achievements expressed or implied by such coverage. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. Smoke Show Ventures, Inc. or its affiliates, which owns The Daily Marijuana Observer, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.dailymarijuanaobserver.com/legal-disclaimer/.