VANCOUVER, Sept. 19, 2018 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) is pleased to announce its inclusion in the Horizons Medical Marijuana Life Sciences ETF (TSX: HMMJ) (the "ETF"). Inclusion in the ETF is as a significant milestone for Namaste as the Company establishes itself as a leader in cannabis-focused e-commerce technology.
The ETF seeks to replicate, to the extent possible, the performance of the North American Marijuana Index (the "Index"), net of expenses. The Index is designed to provide exposure to the performance of a basket of North American publicly listed life sciences companies with significant business activities in the marijuana industry.
Only stocks that meet minimum asset and liquidity thresholds are eligible for inclusion in the Index. Stocks are rebalanced quarterly on a market-capitalization basis and capped so that no single stock can exceed 10% of the weight of the Index when rebalanced.
The ETF's holdings can be viewed directly from its website at the link below;
Namaste is focused on developing and innovating e-commerce technology within the cannabis industry. The Company's wholly-owned subsidiary, Cannmart Inc. ("Cannmart") is Canada's first application for an Access to Cannabis for Medical Purposes Regulations ("ACMPR") medical cannabis "sales-only" license, with the goal of creating a competitive online marketplace for medical cannabis products which will provide patients with access to a more diverse offering of strains sourced from domestic and international licensed producers.
The Company has leveraged its technology platforms including its online patient portal, NamasteMD ("NamasteMD") and the first AI-driven cannabis journaling app, My Uppy Cannabis Journal ("My Uppy"), paired with its cutting-edge AI technology through its wholly-owned subsidiary Findify AB ("Findify.io") and intends to redefine the way in which medical patients access cannabis through online channels and in providing a personalized user experience for each patient. The Company's incusing in the HMMJ ETF reinforces its role as a leader in the cannabis industry. With global operations in over 20 countries and with over 1.5 million consumers in its database, Namaste has positioned itself for long-term growth in domestic and international markets
Sean Dollinger, President and CEO of Namaste comments: "We're very proud to have been included in the HMMJ ETF. Namaste has and will continue to bring innovation to the industry and provide value to its customer and patients on a global basis. Inclusion in the ETF is a major milestone for the Company and reinforces our strength as a leader in cannabis e-commerce technology. Everything we do is focused on the user experience. We believe that Namaste, through its innovative technology platforms and global reach will be positioned for future growth and in establishing itself as a leader in its offering of all things cannabis."
About Namaste Technologies Inc.
Namaste Technologies is Your Everything Cannabis Store™. 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 the company will soon be selling medical cannabis in the Canadian market, subject to approval by Health Canada.
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
Email: [email protected]
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.
SOURCE Namaste Technologies Inc.
For further information: Sean Dollinger, Chief Executive Officer, Direct: +1 604-355-6100, Email: [email protected]