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Saturday, October 06, 2018 2:04:01 PM
Further to the article recently published by Citron Research, which made several false and defamatory accusations, we would like to note several key points in relation to the contents of the article. As you are fully aware, the Article contains several misleading, defamatory and unfair characterizations of our company.
The company has disclosed its intention to cross-list its securities on the NASDAQ stock exchange in the US. Management has been clear that the company meets many of the requirements to cross-list, but does not meet the required share price threshold. Namaste has engaged with counsel to submit its application to the NASDAQ which is presently in progress and the exchange has already begun to review and provide comments on the application. The Company will continue to pursue the cross-listing as intended.
Further to allegations in the article regarding the sale of Namaste's US assets, the company would like to confirm that the transaction was completed in compliance with all legal and regulatory requirements.
In regards to the press release published by Bernstein Liebhard LLP, the Company has not received any notice or communication from the firm.
The Company is prepared to pursue any legal remedies it deems necessary to protect its rights and its reputation and shall continue to respond strongly to false and defamatory statements such as those mentioned in the article.
Statements made are only my opinion. Do your own DD in order to make your Investment decisions.
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