Dear Fellow Shareholder,
On behalf of the board of directors (the “Board”) of Namaste Technologies Inc. (the “Company”
or “Namaste”), I would like to invite you to participate in the annual general meeting of the
shareholders (the “Meeting”) to be held at Hall 104 A, North Building, Metro Toronto Convention
Centre, 255 Front Street West, Toronto, ON M5V 2W6 on Tuesday June 25, 2019, at 11 a.m.
(Toronto time).
The purpose of the Meeting is to receive the audited financial statements and auditor’s report;
appoint the Company’s auditors; elect the directors of the Company; and approve the continued
use of the Company’s stock option plan.
I would also like to use this opportunity to thank all shareholders for their continued support over
the past few months as the Company has gone through a period of transition.
This is a fantastic company with great people, products and prospects. We have a strong,
talented management team in place, and we all believe in the future of the Company.
Namaste Technologies is on the Right Track
Over the last few months, we have been focused on making changes internally while delivering
results externally. The changes we have made impact the short, medium and long-term outlook
of the Company. Specifically, Namaste:
x Completed the acquisition of 49% of Pineapple Express Delivery Inc., a premier delivery
company when it comes to cannabis in Canada. The acquisition of Pineapple Express is
an important component in Namaste’ growth strategy and customer service platform.
x Entered the edibles market with the 49% acquisition of Choklat, a premium chocolate
manufacturer with existing sales through its online eCommerce site and through a
network of distributors across Canada. Choklat has a vast offering of existing products
that can be easily infused with THC or CBD and sold as edibles, at such time that it is
legally permitted to do so.
x Continues to invest in technology and infrastructure spending to position the Company to
cater to domestic and international licensed producers, cultivators, micro-growers and
ancillary device producers who may wish to distribute products through the Company’s
proposed marketplace which is currently under development.
x Improved the customer experience for customers who visit the Company’s properties to
purchase cannabis products and acquire medical prescriptions for cannabis. In
particular, the Company has made advancements to Namaste MD, improved its focus
on operational execution at CannMart and further advanced its business plan for
CannMart Labz.
As you can see, we have remained focused on executing our strategic plan, growing the
business and creating shareholder value for you, Namaste’s owners.
Strengthened Board Leadership
As announced in March 2019, the Board set a goal of adding up to two additional independent
directors. I am pleased to report that we have made good on that promise.
Directors Laurens Feenstra, Kenneth Ngo, and Branden Spikes have been joined by Kenneth
Jones, who was appointed to the Board in April of this year and the more recent addition of
Andy Wylczynski. Each of these two new independent directors bring a unique skillset to
complement the existing Board.
Kenneth Jones is a highly experienced senior business leader with deep knowledge of private
and public sector operations, gained over a 30-year career. His experience includes partner at
PwC as well as progressive roles with a Fortune 500 company.
In addition, for the past 38 years, Andy has worked with a wide range of organizations, including
start-ups, and multinational corporations to raise capital and to advise on national, international
and cross border restructuring initiatives and was also a partner at PwC.
In addition to augmenting the Board, the Company has established an Advisory Board to help
provide additional expertise and strength to the Company.
