TORONTO, July 19, 2019 /CNW/ - Pure Global Cannabis Inc. (TSX.V: PURE; OTC: PRCNF; FRA: 1QS) ("Pure Global"), an integrated growth-oriented sciences and consumer products cannabis company, operating through its wholly-owned subsidiary PureSinse Inc. ("PureSinse" or "Company"), is pleased to announce the recent signing of a supply agreement with Namaste Technologies Inc. ("Namaste") (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF). The agreement will allow for the listing and distribution of PureSinse products on Namaste's online marketplace: CannMart.
This agreement will greatly increase PureSinse's distribution capabilities. By listing on CannMart's direct-to-consumer platform, PureSinse will be able to easily distribute their medical cannabis products across Canada. PureSinse will continue to strengthen their distribution strategy based on providing access to high quality medical cannabis. The agreement aligns perfectly with this strategy as it ensures that those who require medical cannabis will have access regardless of their proximity to cannabis retailers, issues with mobility, or other challenges.
The distribution agreement ensures that PureSinse will retain their brand loyalty. As PureSinse continues to build their strategy on research, education, and raising awareness, maintaining their own branding on CannMart's platform will ensure they are highly visible as a trusted leader in medical cannabis products.
Pure Global CEO & President, Malay Panchal said, "We are incredibly excited about this recent agreement with Namaste, as their CannMart platform truly shares our goals and values. As a medical cannabis distributor, we are always working to make it easier for patients to access high-quality Health Canada approved product. We look forward to providing even more customers across Canada with PureSinse's high-quality products now also available through CannMart's online platform."
CannMart's direct-to-consumer platform uses a fee-based model based on consignment. This innovative model allows CannMart to manage working capital while LPs are able to maintain their unique branding and customer loyalty. CannMart has supply agreements with 15 LP's, over 39 Strains, and 170 SKU's. Outside of Canada, the company has existing supply relationships in Columbia and Australia, with imports pending government approval. CannMart has experienced exponential growth since it started sales on October 17, 2018, and this new agreement will allow PureSinse to distribute to CannMart's ever growing base.
About Pure Global Cannabis
Pure Global Cannabis Inc. is an innovation-based cannabis company led by experienced pharma, biotechnology, horticultural, and consumer packaged goods (CPG) experts. The Company's wholly owned subsidiary, PureSinse Inc.,is a licensed producer under the Cannabis Act. The Company's Brampton campus houses facilities for vertically farmed cultivation, R&D, extraction, manufacturing, and distribution. Pure Global will produce branded and white-labeled cannabis products for the medical, pharmaceutical, wellness, health & beauty, natural health, food & beverage, craft, and recreational legal markets with uniquely formulated and purified concentrates and dried flower. The Company is using the Canadian market as a springboard to develop and manufacture GMP-compliant premium quality cannabis products for international sale and distribution with a goal to become one of the most trusted premium international cannabis brands.
About Namaste Technologies Inc.
Namaste Technologies powers the ultimate online customer experience for medicinal cannabis and related products. Beginning with NamasteMD.com, the Company's integrated telemedicine application, Namaste connects medical clients with health care practitioners to more readily issue and renew cannabis prescriptions online. Featuring the first Canadian Medical Sales-Only Licence, the Company's own Cannmart.com is your 'everything cannabis store' offering clients a large variety of strains to fill their prescription needs. Namaste's unique artificial intelligence (AI) engine incorporated in its platforms and related Uppy App, completes our ecosystem by identifying the right product and pairing to address specific medical cannabis requirements. Namaste also provides vaporizers and accessories across several platforms operating in several countries. Namaste's global technology addresses local needs in a burgeoning cannabis industry requiring smart solutions. For further information about Namaste, please log ontowww.Namastetechnologies.com
This news release contains certain forward-looking statements, including, but not limited to, statements about Pure Global's future plans and intentions. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Pure Global cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Pure Global assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
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