~CannMart leverages distribution expertise to expand B2B and access adult-use markets~
TORONTO, Nov. 27, 2019 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF), a leading online platform for cannabis products, accessories, and responsible education, today announced that its wholly owned subsidiary, CannMart Inc. ("CannMart"), has entered into a licensing and manufacturing agreement with TREC Brands Inc. ("TREC"), a global cannabis brand house. CannMart and TREC have joined forces in an effort to bring high quality products to TREC's brand conscious customer base under the WINK cannabis brand and drive revenue for both companies.
"We have developed expertise in the distribution of a highly regulated product which we will combine with TREC's unique brand in order to ensure high quality products are distributed into protected brick and mortar marketplaces like Saskatchewan and Ontario," said Meni Morim, CEO of Namaste Technologies Inc. "TREC is known for its superior brands and the great work it does supporting initiatives in Canada and around the world. We look forward to embracing our common goal of creating a culture of consciousness around the cannabis sector and driving sales into the adult-use marketplace."
"Namaste and TREC are coming together to offer the many segments of the Canadian cannabis marketplace a uniquely personal cannabis experience and drive revenue," said Trang Trinh, Founding Director and CEO, TREC Brands Inc. "We look forward to the Namaste team introducing WINK Cannabis dried flower products into Saskatchewan with additional products and markets in the future."
TREC is an acronym for Trust, Respect, Equality and Compassion: the values that we believe are at the core of all business decisions made for the socially-conscious cannabis company. TREC provides extensive marketing expertise for consumer-facing cannabis products, in a market that is continually evolving under new regulations. TREC is driven by a commitment to work with those who share their mission to "Do Good" and empower consumers, extending this vision to their investors, employees and partners, premium licensed producers and distribution channels. With an initial shareholder base of Canadian hospitality, nightlife and entertainment innovators and cannabis industry experts, TREC has demonstrated its unique access to today's luxury cannabis consumer. WINK products are available through Leaflink.com serving licensed retailers in Saskatchewan.
CannMart is a Canadian online cannabis marketplace which carries one of the largest selections of legal cannabis products from established cannabis producers in Canada and around the world. It is focused on providing medical cannabis patients and adult-use enthusiasts with access to the highest quality cannabis products available. Namaste is always seeking to expand and improve the CannMart online marketplace through new products, retailers and online experiences.
About TREC Brands Inc. TREC Brands is a global premium cannabis brand house with expertise in promotions, marketing and licensing. Based in Toronto, Canada, the socially conscious brand management organization operates on a foundation of trust, respect, equality and compassion, affectionately known as TREC. Currently overseeing WINK, Blissed and Thumbs Up cannabis brands, product offerings include dried flower, pre-rolls, cannabis oil and vape pens, with a significant investment into future innovations. For more information please visit www.trecbrands.com.
About Namaste Technologies Inc. With headquarters in Toronto, ON, and offices in both B.C. and around the globe, Namaste Technologies is a leading online platform for cannabis products, accessories, and responsible education. The company's 'everything cannabis store', CannMart.com, provides customers with a diverse selection of hand-picked products from a multitude of federally-licensed cultivators, all on one convenient site. Namaste's global technology and continuous innovation address local needs in a burgeoning cannabis industry requiring smart solutions. For further information about Namaste, please visit NamasteTechnologies.com.
Information on the Company and its many products can be accessed through the links below:
FORWARD-LOOKING INFORMATION – This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as "may", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen. The forward-looking information contained herein is made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made, including management's perceptions of Namaste's standing in the online marketplace for cannabis products, management's perceptions of TREC's customer base and standing in the cannabis industry, the ability of Namaste and TREC to distribute products in protected brick and mortar markets such as Saskatchewan and Ontario, the ability of Namaste and TREC to bring high quality products to TREC's customer base while driving sales and revenue growth for both companies, the ability of TREC to introduce WINK cannabis products into Saskatchewan and other markets, future growth, results of operations, operational matters, historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation: risks relating to the Company's ability to execute its business strategy and the benefits realizable therefrom, risks specifically related to the Company's international operations, and risks relating to the market price of Namaste common shares. Additional risk factors can also be found in the Company's current MD&A and annual information form, both of which have been filed under the Company's SEDAR profile at www.sedar.com. Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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SOURCE Namaste Technologies Inc.
For further information: Incite Capital Markets, Eric Negraeff / Darren Seed, Ph: 604.493.2004, For Meni Morim, CEO, Email: [email protected]