TORONTO, Jan. 14, 2021 /CNW/ - Namaste
Technologies Inc. ("Namaste" or the "Company") (TSXV: N)
(FRANKFURT: M5BQ) (OTCMKTS: NXTTF), a leading platform for
cannabis products, accessories, and education, is pleased to
announce, subject to Exchange approval, further expansion into the
USA via CannMart.com with sales of
hemp derived CBD. The Company looks forward to leveraging
VendorLink, it's marketplace technology, in collaboration with
PeakBirch Logic, Inc.
The Company previously announced subject to Exchange approval,
through an appropriate affiliate, the sale of accessories in the
USA as permissible under state
laws. The announcement of this further 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. The Company
is targeting a go-live date for USA customers at CannMart.com by the end of
this fiscal quarter.
"We first announced our 24 month collaboration arrangement with
PeakBirch in September, 2020 including the possible development of
business in the USA and we are
delighted to see the first fruits of that collaboration today,"
said Meni Morim, CEO of Namaste.
"With the changing regulatory landscape improving in the
USA, our recent announced proposed
entry into the USA through the
sale of accessories fulfilled by DankStop, and now this proposed
entry into the U.S. hemp derived CBD market, we continue the
execution of our strategy to position Namaste as a leading global
cannabis company and look forward to building on this positive
momentum. This development also further validates our investment in
technology, as the proposed expansion will be facilitated via our
marketplace technology and we are looking forward to launching more
vendors onto the platform."
"We are delighted to collaborate with Namaste and join their
VendorLink platform to offer hemp derived CBD in the USA at CannMart.com," said Marc Mulvaney, CEO of PeakBirch. "We see great
potential in the marketplace to open up our brands to new customers
in the USA."
Mr. Meni Morim, CEO will be
presenting at the NobleCon17 investor conference on Wednesday, January 20th at
3:45 p.m. EST, discussing this new
opportunity and the Company's USA
expansion. The conference this year is virtual, with no cost,
obligation or restrictions to
attend: www.noblecon17.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
About Namaste Technologies Inc.
Headquartered in Toronto,
Canada, Namaste Technologies is a leading online platform
for cannabis products, accessories, and responsible education. The
Company's 'everything cannabis store', CannMart.com, provides
medical customers with a diverse selection of hand-picked products
from a multitude of federally-licensed cultivators, all on one
convenient site. The Company also distributes licensed and in-house
branded cannabis and cannabis derived products to recreational
consumers 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:
NamasteTechnologies.com
NamasteMD.com
Cannmart.com
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 via CannMart.com
and its proposed entry in the hemp derived CBD market fulfilled by
PeakBirch Logic, Inc. in the United States, its anticipated
"go-live" date for U.S. customers to make purchases through
CannMart.com, as well as statements relating to its proposed
expansion efforts, is made as of the date of this press release and
is based on assumptions management believed to be reasonable at the
time, including, without limitation, Namaste's and PeakBirch
Logic's standings in the online marketplace for cannabis
products, 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 expectations that Exchange approval will be given in a
timely manner; 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 inability of the Company to obtain
Exchange approval in a timely manner in order to enter the US
market, if at all; 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.
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SOURCE Namaste Technologies Inc.