Movers and SHAKERS
Namaste Technologies Provides a Corporate Update
TORONTO, April 13, 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 pleased to provide the following corporate updates.
Namaste is pleased to announce that its wholly-owned subsidiary, CannMart Inc. (“CannMart”) has expanded its product offering to both our provincial customers who sell to recreational consumers and to our own medical customers across Canada at CannMart.com, by entering into a number of supply agreements including with CannTx Life Sciences Inc., Rilaxe Canna Inc. and Safari Flower Co.
CannTx Life Sciences Inc.:
A supply agreement with CannTx Life Sciences, a licensed cultivator and processor, to distribute Royal City Cannabis Co. branded premium artisanal hash products. These high purity handcrafted pressed ice hash products are derived from single strain whole flower cannabis material and washed in small batches to ensure the highest quality hash for Royal City’s consumers. These products will be sold and distributed throughout CannMart's provincial footprint starting in Ontario in the adult use market and online through the medical platform via CannMart.com.
Rilaxe Canna Inc.:
A Canada-wide exclusive production and distribution agreement with Rilaxe Canna bringing to market a new format of edibles that are made from dried fruit with the intention to serve the wellness community, medical patients and adult use customers. There are presently only gummies and chocolate available in the edibles category across the country and this new novel line of products will further expand the category. CannMart is in a unique position to take a first mover advantage with this exciting new product offering. These products will be sold and distributed throughout CannMart's provincial footprint starting in British Columbia in the adult use market and online through the medical platform via CannMart.com.
Safari Flower Co.:
A supply agreement with Safari Flower, a licensed cultivator and processor for various flower and various cannabis 2.0 categories. CannMart will be distributing products through its provincial body supply agreements and online through the medical platform via CannMart.com.
“We are very pleased to welcome all our new partners including, CannTx Life Sciences, Rilaxe Canna and Safari Flower to CannMart as we continue to expand our product offering to our customers,” said Meni Morim, CEO of Namaste. “We are excited to have these products available by the end of May of this year as we look to grow our future revenues. These products will be available for our medical patients across Canada online at CannMart.com, and through our business-to-business distribution channels throughout our provincial customers. The team continues to work very hard at successfully bringing in new partners as we look to be the world’s foremost marketplace in wellness.”
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About CannTx Life Sciences Inc.
CannTx Life Sciences is a privately-owned cannabis producer licensed by Health Canada under the Cannabis Act. As a producer of consumer cannabis products, CannTx is uniquely equipped to provide Plant Tissue Culture services alongside horticultural solutions to fellow Licensed Producers under its B2B division, Steadystem Solutions. From pathogens remediation and in-vitro storage (SteadyStorage) to scheduled provision of clean donor stock (SteadyStock) to production ready inputs (SteadyStarts) Steadystem can help operators reach their full potential. This biotech platform supports CannTx’s consumer cannabis product divisions, Bower Therapy (Medicinal) and Royal City Cannabis Co. (Recreational) and serve as the foundation of quality and consistency of their products. Steadystem Solutions continues to grow its library of validated genetics characterized across a holistic assessment of important agronomic traits. The company was incorporated in 2013 and is located near Guelph, Ontario, in the heart of Canadian agricultural innovation.
About Rilaxe Canna:
Rilaxe Canna is a privately-owned company located in Vancouver, British Columbia producing edibles with high-quality THC distillate that’s sourced locally from our fellow extractionists. Our delicious line of dried fruits are sourced sustainability from local suppliers here in BC. Made only with ingredients that are natural and 100% free of synthetic preservatives that may be harmful to our bodies. Our fruits are certified organic and vegan friendly. Our fruit suppliers focus on social, environmental and economic responsibilities and ethically source their dried fruits from farms across the world who are using approved organic farming methods to support local communities.
About Safari Flower Co.
Safari Flower is a privately-owned company located in Fort Erie, Ontario which cultivates new wave cannabis flowers of unique character for today's generation of sophisticated consumers. Safari strives to bloom the best out of the plant's native potential to maximize each cultivar's most wild and natural expression. Buds are slowly harvested and trimmed by hands in small-batch rooms to preserve the distinct character of every flower; from visual texture to complex aromas and flavours that makes for extraordinary products.
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 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 products on cannmart.com and 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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