Namaste Technologies Inc. (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF), a marketplace platform for cannabis and wellness products, is pleased to announce receipt of approval from the TSX Venture Exchange (the “Exchange”) to engage in the sale of smoking accessories and hemp-derived CBD in the U.S. The Company continues to undertake all necessary diligence to ensure compliance with applicable state and federal laws and expects go-live for U.S. customers at www.cannmart.com by the end of February 2021. Namaste looks forward to leveraging its VendorLink technology in collaboration with DankStop and PeakBirch Logic, Inc.
“The announcement of this expansion in the USA underscores Namaste’s intention to increase its total addressable market and exploration into other verticals as regulation evolves and other adjacent complementary market opportunities present themselves,” said Meni Morim, CEO of Namaste. “The expansion also fits squarely into our evolution into a wellness company, connecting consumers to their wellness needs of tomorrow.”
Mr. Morim added: “The Company is encouraged by the recent statements of U.S. Senate Majority Leader Chuck Schumer and his colleagues regarding seeking an end to cannabis prohibition in the U.S. as a legislative priority: We obviously welcome the news. It’s no secret that we intend to use this expansion as a beachhead, applying our VendorLink platform with a view to new U.S. wellness frontiers, including new nutraceutical products, by the end of fiscal 2021, and, if Senator Schumer and friends are successful and legislation permits, maybe one day cannabis.”
About Namaste Technologies Inc.
Headquartered in Toronto, Canada, Namaste Technologies is a marketplace platform for cannabis and wellness products. At CannMart.com, the Company provides Canadian medical customers with a diverse selection of hand-picked products from a multitude of federally licensed cultivators and will provide US customers with access to smoking accessories and hemp-derived CBD. The Company also distributes licensed and in-house branded cannabis and cannabis derived products in Canada through a number of provincial government control boards and retailing bodies and facilitates licensed cannabis retailer sales online in Saskatchewan. Namaste’s global technology and continuous innovation address local needs in a burgeoning cannabis industry requiring smart solutions.
Information on the Company and its many products can be accessed through the links below:
DankStop is the one of the world’s largest and fastest growing online smoking supply retailers. Nothing like your ordinary headshop, DankStop is the quickest, cheapest, and easiest way to get the best smoking supplies delivered discreetly to your door. With an industry leading and innovative website, dedicated support team, and the biggest product selection available online, DankStop has single-handedly raised the bar for the online smoking supply industry since 2014. From humble beginnings, our co-founders started DankStop in “moms basement”. Our founding vision was to remove the “sketchy” stigma from the headshop industry by providing high quality, low priced products in a simple and transparent manner. Leveraging our in house technology, we now offer a variety of B2B services for the Cannabis industry in addition to our retail websites ranging from drop shipping to third party logistics. Information on the Company and its many products can be accessed through: www.dankstop.com
About PeakBirch Logic, Inc.
PeakBirch is a cohesive ecommerce technology group scaling multiple online businesses to become internationally successful brands. With a strong focus on consumer journey, deep analytics and AI powered trend analysis PeakBirch unlocks the true growth potential of customer-centric brands by providing revenue acceleration with customer experience optimization via a lean platform. Through a combination of the latest digital best practices and a proven team, PeakBirch Logic is committed to generating significant and sustained return on investor capital over the long-term.
Information on the Company can be accessed through: www.peakbirch.com
For more information please contact:
Namaste Technologies Inc.
Meni Morim, CEO
Edward Miller, VP Investor Relations
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, including, without limitation, statements related to Namaste’s proposed entry into the United States markets for smoking accessories and hemp-derived CBD via CannMart.com, Namaste’s anticipated “go-live” date for U.S. customers to make purchases through CannMart.com, Namaste’s intention to leverage its VendorLink technology in collaboration with DankStop and PeakBirch Logic, Inc. and Namaste’s proposed expansion efforts. Such statements are made as of the date of this press release and are based on assumptions that management believed to be reasonable at the time, including, without limitation, Namaste’s ability to ensure compliance with applicable state and federal laws with respect to the sale of smoking accessories and hemp-derived CBD in the United States, Namaste’s ability to leverage its VendorLink technology in collaboration with DankStop and PeakBirch Logic, Inc., anticipated continued improvements to the regulatory landscape for the sale of cannabis, associated products and accessories that will benefit Namaste’s business in the United States and globally, Namaste’s beliefs regarding the expected demand for cannabis products and accessories and hemp derived CBD products and the expected growth of that market globally, 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 its 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: the failure to achieve the intended sales results and benefits from the Company’s expansion efforts, regulatory risk both in the United States and globally, including in particular regulations not evolving in a manner to that would benefit Namaste’s business, risks relating to the Company’s ability to execute its business strategy and plans and the benefits realizable therefrom and risks specifically related to the Company’s operations. 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.