Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV:N.VN) (FRANKFURT:M5BQ) (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 Weed Me Inc. (“Weed Me”), whereby Cannmart will purchase medical cannabis from Weed Me to offer in its online platform.
Subject to the terms of the Agreement, Cannmart has placed its first order with Weed Me that includes a variety of pre-rolled products in several strains. By creating a unique offering of strains and products sourced from multiple producers, Cannmart offers medical patients more variety of high-quality cannabis products through a single platform. Cannmart has been focused on securing additional products, and in expanding its product categories to include pre-rolls. The Company looks forward to nurturing a long-term supply arrangement with Weed Me, and securing additional supply from their future production.
The Company’s goal is for Cannmart to become the leading online marketplace for medical cannabis in Canada by offering the largest selection of product and in offering excellent customer service. With Namaste’s technology and Cannmart’s platform, the Company believes it is well-positioned to offer significant value as a sales-channel to a broad range of licensed producers across Canada. Namaste’s management team is confident in its ability to set itself apart as a true innovator in the cannabis e-commerce space.
Sean Dollinger, President, and CEO of Namaste comments: “We’re pleased to announce this Agreement with Weed Me. We’ve secured supply from their first production and will look forward to offering their product to our patients. By leveraging our technology platforms, expertise in e-commerce and incredible customer service, we intend on improving the buying experience for medical patients and becoming Canada’s leading online platform for medical cannabis sales.”
About Weed Me Inc.
Weed Me, established in April 2016, is a leading Canadian Licensed Producer that has the exclusive Canadian rights to Dutch Passion genetics. Weed Me’s vision is to enhance lives through the provision of high quality medical and recreational cannabis. Located in Pickering Ontario the company focuses on developing unique formulations and cannabis strains that meet the needs of recreational and medical users. Weed Me leverages the company’s production facilities and clinical data to minimize operating costs while developing unique strains and formulations.
About Namaste Technologies Inc.
Namaste Technologies is Your Everything Cannabis Store(TM). Namaste operates the largest global cannabis e-commerce platform with over 30 websites in 20+ countries under various brands. Namaste’s product offering through its subsidiaries includes vaporizers, glassware, accessories, CBD products, and medical cannabis in the Canadian market.
Namaste has developed and acquired innovative technology platforms including 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 buying experience. Namaste is focused on leveraging its cutting-edge technology to enhance the user experience throughout its platforms. Namaste will continue to develop and acquire innovative technologies which will provide value to the Company and to its shareholders as well as to the broader cannabis market.
On behalf of the Board of Directors
Chief Executive Officer
Direct: +1 604-355-6100
Further information on the Company and its products can be accessed through the links below:
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 TSXV has neither reviewed nor approved the contents of this press release.
View original content to download multimedia:http://www.prnewswire.com/news-releases/cannmart-signs-product-acquisition-agreement-with-weed-me-inc-300754752.html
SOURCE Namaste Technologies Inc.