~CannMart marketplace growing with CannTx Life
Sciences products~
TORONTO, Sept. 26, 2019
/CNW/ - Namaste Technologies Inc. ("Namaste" or
the "Company") (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF)
today announced that CannMart has signed sales and marketing
agreements with CannTx Life Sciences Inc. ("CannTx") to launch and
sell their flagship medical brand, BOWER, under CannMart's
consignment sales model. As an additional value-added service,
CannMart will process and package BOWER products through
its Health Canada-licenced processing facility. This
allows CannMart to provide direct to consumer medical sales through
CannMart.com and leverage its licence and approved facility to
partner with licenced producers ("LPs") in a more meaningful
way.
"CannMart is expanding its products and services to grow its
online marketplace of quality products and demonstrate an
additional value proposition to LPs," said Meni Morim, CEO of Namaste. "We're adding new
services and sales channels for LPs who are licensed for
cultivation only and those companies who have yet to receive
regulatory approval for their sales and distribution licenses."
"We've chosen CannMart to launch our online sales of quality
cannabis products based on their unique value proposition," said
Mike Abbott, President &
Co-Founder of CannTx. "We have high quality products and we believe
this new channel for us will help alleviate some previous barriers
to market."
CannTx products are available on CannMart's website effective
immediately.
About CannTx
CannTx Life Sciences is a
privately-owned cannabis producer licensed by Health Canada under
the Cannabis Act. Under its Steadystem Solutions division, CannTx
is uniquely equipped to become a commercial-scale producer of
micropropagated plantlets (produced from tissue cultures) for sale
to other Licensed Producers. These plantlets also supply CannTx's
consumer divisions, Bower Therapy (Medicinal) and Solidus Standard
(Recreational). Steadystem Solutions is also building a library of
genetics that can be delivered to interested Licensed Producers for
production on a commercial scale. The company was incorporated in
2013 and is located near Guelph,
Ontario, in the heart of Canadian agricultural
innovation.
About Namaste Technologies Inc.
With headquarters in
Toronto, ON, and offices in B.C.
and around the globe, Namaste Technologies is the world's leading
online platform for cannabis products, accessories, and responsible
education. The company's 'everything cannabis store', CannMart.com,
provides customers with a diverse selection of hand-picked products
from a multitude of federally-licensed cultivators, all on one
convenient site. Namaste's global technology and continuous
innovation address local needs in a burgeoning cannabis industry
requiring smart solutions. For further information about Namaste,
please visit Namastetechnologies.com
Information on the Company and its many products can be accessed
through the links below:
NamasteTechnologies.com
NamasteMD.com
Cannmart.com
NamasteVapes.ca
Everyonedoesit.ca
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 related to CannMart's
intention to process and package BOWER products through its Health
Canada-licenced processing facility and CannMart's future ability
to provide direct to consumer medical sales and future partnerships
with LPs. 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 Namaste's standing
in the online marketplace for cannabis products, Namaste's ability
to negotiate agreements with third parties, 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 Namaste's management consider these
assumptions to be reasonable based on information currently
available to it, 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.
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SOURCE Namaste Technologies Inc.