VANCOUVER, Sept, 10, 2018 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) is pleased to announce that the Company has pre-launched its revolutionary medical cannabis online marketplace through its wholly-owned subsidiary, CannMart Inc. ("CannMart" or "CannMart.com"). CannMart is poised to be Canada's first medical cannabis "sales-only" license under Health Canada's Access to Cannabis for Medical Purposes ("ACMPR") program. The Company has pre-launched CannMart's website, CannMart.com, which will allow the Company to commence sales immediately after receiving its license. Receipt of its sales license, coupled with the official launch of CannMart.com, will represent the most significant achievement in the Company's history and will be the catalyst for Namaste introducing legal cannabis sales into its global e-commerce platform.
Namaste is pleased to report that it received communication from Health Canada on September 6th, 2018, and the Company would like to reaffirm that the application is progressing. CannMart's license, which is the first of its kind in Canada, will enable Namaste to procure and sell medical cannabis from both domestic and international Health Canada approved cultivators, which will be offered in an AI-driven e-commerce marketplace designed to provide a unique and personalized experience for each patient. Namaste has secured supply and holds inventory of a carefully curated selection of high-quality medical cannabis flower and oil.
Namaste has successfully launched and operates the largest global e-commerce marketplace which retails cannabis ancillary devices on 30 websites in 20 countries. The Company maintains a database of over 1.5 million customers and has developed and acquired leading e-commerce technology platforms including Findify.io ("Findify"), a leading e-commerce AI company, and NamasteMD ("NamasteMD.com"), Canada's first fully integrated patient consultation portal available in the Apple and Google Play stores and online. Namaste's technology team have incorporated cutting-edge e-commerce AI which will offer a personalized user experience for every patient ordering through CannMart.com. The Company anticipates that the launch of CannMart's website and receipt of its sales license will solidify Namaste's position as the leader in cannabis e-commerce.
By receiving its sales license, Namaste will complete the vision that it set out to achieve only two short years ago. What the Company has been able to achieve has been truly remarkable as many of its initiatives have been revolutionary to the cannabis space. In a very short period of time, both the NamasteMD App and recently released My Uppy Cannabis Journal App have demonstrated that the Company's forward-thinking strategies are highly successful. With over 18,000 registered users on NamasteMD, over 18,000 downloads of My Uppy, and Namaste's Canadian database of over 17,000 vaporizer customers (derived through NamasteVapes.ca and Everyonedoesit.ca), together totaling a user-base of over 52,000 people, the Company, upon receipt of its sales license will be well positioned to leverage its database, technology and e-commerce expertise to disrupt online cannabis sales in Canada and then globally.
Under the current set of both provincial and federally regulated guidelines, Namaste's platform represents one of the best resources to ensure the safe and reliable distribution of cannabis in the entire space. Namaste has received multiple requests from third-party peers to incorporate many of the Company's cutting-edge technologies. As legalization draws nearer, The Company believes it is in a position to capitalize on new opportunities that present themselves, as it looks to leverage its revolutionary technology in Canada and across the globe.
The Company is encouraging investors and potential patients to register their name and email address through CannMart.com to keep in touch and to have the opportunity to become one of the first CannMart patients.
Sean Dollinger, President and CEO of Namaste comments: "We are extremely excited and proud to be launching CannMart.com at this time, in anticipation of commencing online cannabis sales through our platform in the very near future. I would like to extend my deepest gratitude to all of those that worked tirelessly to make this happen and in helping Namaste achieve this monumental achievement.
The official launch of CannMart.com coupled with receipt of our "sales only" license will mark a new chapter in our incredible journey of becoming the world's first fully-integrated online cannabis marketplace, one driven by cutting edge AI and machine learning technology, as well as revolutionary facial recognition and age identification protocols.
I am very optimistic about where Namaste is currently positioned in the cannabis space and believe that the Company will now receive the respect it deserves from its peers, as it has established itself as a leader in the space. We cannot wait to continue pushing the boundaries and continue developing revolutionary technologies aimed at enhancing the patient experience. Our focus remains on forming strategic alliances and in developing new initiative solutions within the cannabis space.
After receiving a number of emails and calls, I'd like to take this opportunity to reaffirm to our shareholders that we have heard back from Health Canada and that our application is progressing."
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.
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]