~Seedo's unique cultivator products join the Namaste platform and bring the benefits of growing plants into the home of global consumers~
TORONTO, Aug. 15, 2019 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) today announced that it has signed a distribution and marketing agreement with Seedo Corp (OTCQB: SEDO) subsidiary Eroll Grow Tech Ltd ("Eroll Grow Tech") to market their Seedo home grow ("Seedo") product through the Company's online marketplace. The Seedo products are fully automated home grow devices, providing Namaste's global customer base with the opportunity to enjoy the benefits of growing plants in their own home.
"This innovative and ground-breaking product is a great addition to Namaste's marketplace," said Meni Morim, Interim CEO at Namaste Technologies. "Our goal is to create the most unique and personalized experience for users seeking innovative devices, and Seedo's home grow unit is ready for European now and expected to launch on Namaste's Canadian properties very soon".
"Given Namaste's extensive distribution experience and wide-reach within the cannabis space, we are excited to work with them," said Seedo CEO Zohar Levy. "We are setting our sights on new market segments and successfully expanding around the world. This relationship will introduce European consumers to automated growing technology, and will give them the capabilities to grow their own plants – hemp, vegetables, fresh herbs, and flowers – at home."
Seedo Products are already available from Namaste web properties in Europe and are expected to launch on CannMart.com and Namastevapes.ca in the third quarter of 2019.
About Namaste Technologies
Namaste Technologies powers the ultimate online customer experience for medicinal cannabis and related products. Beginning with NamasteMD.com, the Company's integrated telemedicine application, Namaste connects medical clients with health care practitioners to more readily issue and renew cannabis prescriptions online. Featuring the first Canadian Medical Sales-Only Licence, the Company's own Cannmart.com is your 'everything cannabis store' offering clients a large variety of strains to fill their prescription needs. Namaste's unique artificial intelligence (AI) engine is incorporated in its platforms and related Uppy App, and completes its ecosystem by identifying the right product and pairing to address specific medical cannabis requirements. Namaste also provides vaporizers and accessories across several platforms operating in multiple countries. Namaste's global technology addresses local needs in a burgeoning cannabis industry requiring smart solutions. For further information about Namaste, please log onto www.Namastetechnologies.com
Seedo is a market leading agritech company providing the cannabis and agriculture industries with the world's first fully automated and controlled indoor home growing machine device for home-grow and commercial hemp, herbs and vegetables. Seedo provides growers with the freedom to cut costs while generating high yields of lab-grade, pesticide-free herbs and vegetables. AI-powered, turnkey systems enable anyone from average consumers to large-scale producers the ability to grow without prior experience or ample space. The Seedo solution minimizes cultivation costs by delivering maximum daylight illumination, built-in carbon filters, automated air conditioning, and a smart post-harvest drying system to users. Even in the harshest environments or with limited space, cultivators can use Seedo's intelligent technology to harvest the next generation of precision agriculture. This software-driven technology will be extended to large-scale farming solutions and including vertical farming. Seedo is a publicly traded company backed by a group of international investors including Cannabics Pharmaceuticals and is headquartered in Israel. For more information, visit http://www.seedo.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 in this press release includes, but is not limited to, statements regarding: (i) the opportunity that the Seedo products provide to Namaste's global customer base; (ii) the ability of the Seedo relationship to introduce European consumers to automated growing technology and their ability to grow plans at home; (iii) the expected launch date of the Seedo Products through CannMart; (iv) the effectiveness of Namaste's AI to identify products to address specific medical cannabis requirements; (v) the yield of growers using Seedo products; and (v) the potential extension of the Seedo technology to large-scale farming solutions and its effects. 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 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 the 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
SOURCE Namaste Technologies Inc.
For further information: Incite Capital Markets, Eric Negraeff / Darren Seed, Ph: 604.493.2004; Meni Morim, Interim CEO, Email: [email protected]