VANCOUVER, July 23, 2018 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV: N) (FRANKFURT: M5BQ) (OTCQB: NXTTF) is pleased to announce that the Company has submitted its application to list its common shares on the NASDAQ Capital Market ("NASDAQ").
In advance of the listing on NASDAQ, Namaste will file a Form 40-F Registration Statement with the United States Securities and Exchange Commission. The listing of the Company's common shares on NASDAQ remains subject to the approval of NASDAQ and the satisfaction of all applicable listing and regulatory requirements, including the effectiveness of the Form 40-F Registration Statement. The Company may also seek shareholder approval for a share consolidation in order to meet the share-price requirements of NASDAQ.
Namaste's common shares will continue to trade on the OTCQB under the ticker symbol NXTTF until NASDAQ approval and uplisting, at which time the Company's ticker symbol will change to NAMD. Namaste's common shares will continue to trade on the TSX Venture Exchange ("TSXV") under the ticker symbol "N" post-NASDAQ uplisting.
Sean Dollinger, President and CEO of Namaste comments; "We're very excited to become one of the first Canadian cannabis companies to pursue this prestigious listing. Listing Namaste shares on NASDAQ will support the Company's anticipated growth as we're actively expanding our global business and entering into new sales channels. Namaste has certainly come a long way from humble beginnings and we're very proud of our team and their accomplishments and are very much looking forward to elevating the Company's profile by listing on NASDAQ."
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
Further information on the Company and its products can be accessed through the links below:
This press release contains forward-looking statements, within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and forward-looking information under applicable Canadian securities laws (such forward-looking statements and forward-looking information are collectively referred to herein as "forward-looking statements"). These forward-looking statements are based on current expectations and 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. Examples of such statements include statements with respect to the timing, receipt of regulatory approval for, and listing of the Company's common shares on a U.S. stock exchange and the filing of a Form 40-F Registration Statement with the United States Securities and Exchange Commission. Actual results could differ materially from those currently anticipated due to a number of factors and risks including, without limitation, those listed in the "Risk Factors" section of the Company's annual information form dated February 6, 2018 and filed with the Canadian securities regulators available on the Company's issuer profile on SEDAR at www.sedar.com. 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 (786) 389 9771, Email: [email protected]