VANCOUVER, July 3, 2018 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV: N)(FRA: M5BQ)(OTCMKTS: NXTTF) is pleased to announce the Company has signed an exclusive Software Services Agreement (the "Agreement") with Indigenous Canadian Medical Dispensaries Inc. ("IcMD" or "IcMD.ca"), whereby Namaste is partnering with IcMD to provide all Indigenous communities across Canada (representing a population of over 1.5 million people) with free access to the Company's revolutionary telemedicine application and online patient portal, NamasteMD. The Company anticipates that this Agreement will drive further patient growth in Namaste achieving its target of acquiring over 50,000 medical cannabis patients by the end of 2018 and 200,000 by the end of 2019.
Under the terms of the Agreement, NamasteMD will provide IcMD with exclusive access to its online platform for Indigenous people across Canada, via both desktop and mobile phone platforms, on both Apple iOS and Android devices. In turn, IcMD has agreed to offer NamasteMD exclusivity for all its online patient consultations across Canada. As part of the Agreement, Namaste will use a unique code for IcMD to track patient acquisition from IcMD's channels, and will offer medical cannabis, pharmaceutical products, as well as medical devices.
This Agreement represents a significant milestone, as Namaste and IcMD collaborate in providing Indigenous communities across Canada with the right to access medical cannabis. This will be accomplished by offering all community members with free consultations, whereby patients have instant access to doctors or nurse practitioners. Namaste and IcMD believe they can help bridge the gap for Indigenous communities across Canada who are suffering from an overwhelming lack of access to quality healthcare services. Through a platform powered by NamasteMD's technology, IcMD plans to potentially provide healthcare access to over 1.5 million Indigenous peoples, many of whom currently reside in remote or rural areas, and have little to no access to comprehensive clinic services.
This Agreement embodies Namaste and IcMD's belief that all Indigenous people across Canada, whether in urban environments or rural communities, should have proper access to healthcare practitioners and medical cannabis. IcMD's management team is committed to supporting Indigenous communities and believes NamasteMD will serve as a powerful tool to enhance the lives of many members. Both Namaste and IcMD view this partnership as an incredible opportunity to become leaders in the Indigenous medical cannabis and direct healthcare space by providing people with safe and reliable access to healthcare in their hands.
Namaste views this opportunity as potentially one of the most significant initiatives it has embarked on to date. Once deployed, Namaste believes its platform has the ability to have a significant social impact on Indigenous communities across Canada. Namaste and IcMD are also confident this technology has the ability to catch the attention of Indigenous leaders on a global scale once its effects are observed within the Canadian market. This represents a unique opportunity for both parties to come together and work with Indigenous leaders across the country in helping drive social reform.
At a time when political leaders at all levels of government have acknowledged an impending opioid epidemic, it would appear that there is no better time to implement better access to healthcare. By making it easier and more affordable to access doctors and nurse practitioners, it is believed that this will allow Indigenous members, whose communities have been some of the hardest hit, the ability to make more informed choices under the guidance of a trained professional.
The fact that the Indigenous market and its people have consistently been left out of equal access to healthcare is something Namaste and IcMD are extremely excited to change. Starting with nationwide access to medical cannabis and moving forward to health consultations and treatment plans Namaste & IcMD will truly be putting healthcare in the hands of the people.
Namaste's wholly owned subsidiary, Cannmart Inc. ("Cannmart") is a late-stage applicant for a medical cannabis "sales-only" license that will serve to provide a diverse selection of cannabis from preferred cultivation partners and will be integrated with IcMD's platform through NamasteMD upon receipt of its sales license.
IcMD and Namaste are excited to attend and launch IcMD at the Assembly of First Nation's 39th General Assembly in Vancouver, BC July 23 to 26, 2018. Namaste and IcMD will be highlighted in a booth at the AFN Circle of Trade. The AFN Circle of Trade provides the opportunity to meet, network and showcase products to over 4,500 key decision makers and influencers from a growing market within the First Nations communities across Canada.
The Assembly of First Nations (AFN) is a national advocacy organization representing First Nation citizens in Canada, which includes more than 900,000 people living in 634 First Nation communities and in cities and towns across the country. http://www.afn.ca/about-afn/
Namaste is pleased to be hosting a special edition Namaste420 Youtube live-stream at 9:00 AM EST on July 3rd, 2018 to discuss the Agreement with IcMD and answer questions. To join the stream please visit the link below;
Christopher Henry, CEO of IcMD comments: "As a proud member of the MMF I have been consistently involved in Indigenous employment and advancement to towards complete self-sufficiency. For the past 25 years, I have worked closely with and in Indigenous communities across Canada. During that time, I have personally seen the lack of access to almost every service most Canadians take for granted every day. By partnering with Namaste Technologies and NamasteMD we are able to gain access to technology that would allow us to realize our dream of putting healthcare in the hands of the people. This has the potential to change how we provide healthcare to Indigenous communities across Canada and bring them one more step to equality with all Canadians."
Christopher Henry is a member of the Manitoba Metis Federation and co-owner of WorkingWarriors.ca a national Indigenous Engagement and Employment Company.
Michael Birch, President, and COO of IcMD comments: "I grew up in Garden Hill First Nation. A fly in remote community in Northern Manitoba with over 3000 residents. We didn't have access to a doctor or nurse or even a healthcare facility at times. To be able to put access to reliable secure healthcare in the hands of our people is a dream I didn't think would ever happen in my lifetime. By partnering with Namaste and NamasteMD we will finally be able to give all Indigenous people, regardless of location, access to a more equal standard of care."
Michael Birch is an entrepreneur originally from Garden Hill First Nation. He is owner & President of MBE a Facility Management and Logistics Company for Indigenous communities.
Sean Dollinger, President and CEO of Namaste comments: "We are beyond honored to have partnered with IcMD and their management team who exemplify the nature of Namaste and our core values. We truly believe that our technology will improve the health and well-being of hundreds of thousands of people in Indigenous communities across Canada. The level of accessibility to high-quality healthcare that we will be able to offer has the ability to create a significant social impact to all Indigenous communities. We are proud to be partnered with IcMD's management team who are deeply committed to this cause.
This Agreement is just the start of what we feel will evolve into a long-term relationship and success in bringing value to the lives of many Indigenous people. While the legalization of recreational cannabis may not be accessible to community members across Canada, Namaste will serve to provide convenient access to medical cannabis in remote areas not yet served by the recreational market.
For IcMD to select Namaste among hundreds of ACMPR Licensed Producers in Canada, speaks volumes as to the value in our technology and we feel privileged to embark on this new and exciting initiative for the betterment of all Indigenous communities and its members. We'd like to thank IcMD's team, Christopher Henry and Michael Birch for their support and hard work in putting together this exciting partnership.
We're also pleased to announce the submission of the TSX Venture Form 5G at the close of the market on Friday, June 29th, 2018, and we anticipate commencing our Normal Course Issuer Bid ("NCIB"), whereby the Company will purchase up to 25,308,136 of its common shares, or 8.9% of the "Public Float" (as such term is defined in the TSX-V Corporation Finance Manual)."
About Indigenous Cannabis Medical Dispensaries Inc.
IcMD's goal is to put reliable and accessible healthcare in the hands of Indigenous people. By working with our relationships created over a lifetime of work in the Indigenous community IcMD will bring medical cannabis to every region of Canada. We believe that the over prescription of pharmaceuticals to our people has had a negative effect on our communities. By offering a natural solution to many common conditions we believe will we be more able to return to our traditional roots. Moving towards health consultations and treatment plans will eventually see IcMD as the nationwide leader in direct Indigenous healthcare equality.
About Namaste Technologies Inc.
Namaste Technologies is a global leader in the sale of medical cannabis consumption devices. Namaste has nine offices with multiple distribution centers around the globe and operates over 30 websites under various brands. Namaste has developed innovative technology platforms including NamasteMD.com, Canada's first ACMPR compliant telemedicine application. The company is focused on patient acquisition through NamasteMD and intends on building Canada's largest database of medical cannabis patients. The company's subsidiary, CannMart Inc. is an ACMPR Licensed Producer pending receipt of a "sales-only" license, whereby the company will offer a large variety of medical cannabis sourced from domestic and international producers. 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 (786) 389 9771
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. Neither the TSX Venture Exchange nor its market regulator has reviewed or 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@example.com