VANCOUVER, Aug. 22, 2018 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) is pleased to announce that it has signed a definitive revenue sharing agreement (the "Agreement") with Cannvas MedTech Inc. ("Cannvas") (CSE: MTEC, FRA: 3CM), a leading cannabis business technology company, whereby the two companies will share revenue generated through co-branding and marketing efforts between Namaste's medical cannabis patient portal, NamasteMD (or "NamasteMD.com") and the Cannvas.me cannabis education platform."
Under the terms of the Agreement, Cannvas and Namaste will build and deploy technologies driving customer acquisition and value-added services between company platforms. Both organizations will continue to explore other avenues to expand the partnership and enhance user experiences across their respective platforms.
Namaste is the world's largest and most comprehensive cannabis-focused e-commerce platform with 32 sites in 20 countries and over 600,000 monthly visits to their e-commerce sites with a database of approximately 1.5 million users. The Company's fully integrated e-commerce network spans across the globe offering everything from CBD products to rolling papers and vaporizers. In Canada, Namaste has developed the country's first cannabis telemedicine app, available on iPhone and Android devices, allowing patients to connect to doctors or nurse practitioners for consultations within 15 minutes from sign-up.
The Agreement represents a strategic initiative whereby Namaste is partnering with a technology platform to drive new patient acquisition and create value for its partners. With the use of NamasteMD, the Cannvas.me educational platform will offer users convenient access to book medical cannabis consultations through NamasteMD, providing added value for and a new revenue stream for Cannvas.me.
Steve Loutskou, COO of Cannvas MedTech Inc. comments: "As we close in on the launch of Cannvas.me, we are very excited to team up with Namaste Technologies. They have done an incredible job creating the world's largest and most comprehensive cannabis-focused e-commerce platform and make an ideal partner for Cannvas MedTech. We share a similar outlook of aspiring to partner with leading companies making a difference educating consumers about the benefits of medical cannabis. I look forward to working with the Namaste team and building a long-term and mutually beneficial partnership."
Kory Zelickson, Co-Founder and VP of Business Development for Namaste comments: "I am very impressed with the vision of Cannvas to become the unbiased source of education for medicinal and recreational cannabis users worldwide. With the legalization of cannabis in Canada only a few short months away, forming a long-term partnership with an educational platform furthers Namaste's commitment to its patients around the safe and responsible use of cannabis."
About Cannvas MedTech Inc.
Cannvas MedTech is a leading business technology company in the cannabis space. We design and build customer-centric solutions that enable our partners to harness the power of data to truly understand their customers, industry, and key business drivers.
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
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: firstname.lastname@example.org