Release - Namaste Technologies Subsidiary CannMart Signs Master Distribution Agreement with Rapid Dose Therapeutics Corp.
Namaste Technologies Subsidiary CannMart Signs Master Distribution Agreement with Rapid Dose Therapeutics Corp.
CannMart Receives its First Purchase Orders for its Consumer-Focused Recreational House Brand “Roilty” Vape Carts
TORONTO, July 09, 2021 (GLOBE NEWSWIRE) -- Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) a marketplace platform for cannabis and wellness products, is very pleased to announce that its subsidiary, CannMart Inc. has signed a Master Distribution Agreement with Rapid Dose Therapeutics Corp. (“RDT”) (CSE: DOSE). As part of this agreement and subject to certain criteria, CannMart will be the exclusive distributor of their innovative RDT branded products across Canada including:
1. QuickStrip™, a 10 mg THC sublingual oral dissolving strip, infused with cannabis that is delivered quickly into the bloodstream bypassing first-pass metabolism resulting in rapid onset of the active ingredient and;
2. QuickSips™, a 10 mg THC lined drinking straw that is 100% biodegradable made from sugarcane fibres which is easily used in hot or cold beverages lined with a precise dose that dissolves quickly and is taken up with your beverage in a few sips.
“We are excited to enter into this agreement with RDT to distribute their innovative cannabis products,” said Meni Morim, CEO of Namaste. “As we continue to build a wide spectrum of cannabis products that offer both traditional and newer delivery platforms, and we are pleased to be entering a new category with the addition of the QuickStrip™ and QuickSips™ line of products. CannMart continues to rapidly increase its SKU count which now stands at approximately 700 and receives a record number of requests from vendors across North America to list their products onto our innovative marketplace platform. We are confident this will be a successful partnership with RDT and we look forward to achieving our growth objectives.”
“Roilty” Brand Vape Carts First Purchase Orders:
CannMart is pleased to announce that it has received its first purchase orders from the provinces of Manitoba, and Saskatechewan for its 2.0 consumer-focused, recreational house brand “Roilty” Concentrates. Under the “Roilty'' brand, we will launch new products such as distillate vapes followed by live resin, shatter, crumble and wax in the coming quarters and with many more provinces across Canada. The distillate vapes will be manufactured in bulk by a third party to be packaged at the CannMart facility. This will be a great step to get products into the market as the CannMart Labs team dials in its processes for new and exciting 2.0 products coming in the near future. “Roilty” will be positioned as a premium, accessible and legacy inspired brand. This launch of the “Roilty” Concentrate Vapes is in conjunction with July 10th (“710” / “OIL”) International Oil Day.
About Rapid Dose Therapeutics Corp:
Rapid Dose Therapeutics Corp. is a publicly-traded Canadian life sciences company providing innovative, proprietary drug delivery technologies designed to improve outcomes and quality of lives. RDT offers Quick, Convenient, Precise and Discreet™ choices to consumers. RDT is focused and committed to clinical research and product development for the healthcare manufacturing industry — including nutraceutical, pharmaceutical and cannabis industries. RDT is committed to continually create innovative solutions for humans, animals, and plants.
About Namaste Technologies Inc.
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 US customers with access to hemp-derived CBD and smoking accessories. 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:
For more information please contact:
Namaste Technologies Inc.
Meni Morim, CEO
Edward Miller, VP Investor Relations
Source: Namaste Technologies Inc
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 distribution of cannabis products including Roilty products through CannMart provincial buyers are 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, without limitation, Namaste’s ability to maintain momentum of expanding the CannMart Inc. business, 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: regulatory risk, risks relating to the Company’s ability to execute its business strategy 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.
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