NAMASTE TECHNOLOGIES PROVIDES CORPORATE UPDATE
03/11/2021
- CannMart Inc. Receives Health Canada Licence Renewal
TORONTO, March 11, 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 including that its wholly owned subsidiary CannMart Inc. has received Health Canada’s renewal for its standard processing and sale for medical purposes under the Cannabis Regulations. The renewed licence is effective as of March 11, 2021.
“We are pleased with the renewal from Health Canada of our licence for standard processing and sale for medical purposes in Canada,” said Meni Morim, CEO of Namaste. “The CannMart team has done a tremendous job growing our business over the past year as they are focussed on bringing new partners to distribute an increased variety of products to our customers. We look forward to this continued momentum of expanding our business and remain focused on executing our strategy of becoming a global cannabis and wellness organization.”
Sugarbud Announcement
Namaste is pleased to announce that its wholly owned subsidiary CannMart Inc. ("CannMart") has signed a supply agreement with Sugarbud Craft Growers Corp. (“Sugarbud”) to access its exceptional select batch craft cannabis collection to Canadian medical consumers at cannmart.com.
"We are very pleased to be partnering with CannMart to provide registered medical consumers across the country with access to our Craft Cannabis Collection," stated Sugarbud CEO, John Kondrosky. "We are pleased to welcome Sugarbud to CannMart.com - another high quality producer recognising the value of our online distribution channel that leverages our VendorLink platform and innovative technology," said Chad Agate, CTO and VP of Marketplace of Namaste Technologies.
New Website
The Company is inviting visitors to explore its new corporate website. The new website has been designed to offer a user-friendly experience with improved navigation and functionality allowing shareholders to access all the information they need including access to our quarterly and annual financial statements. Please visit: www.namastetechnologies.com.
CannMart Labs Inc.
The Company intends to issue an aggregate of 880,144 common shares (issued at a deemed price of $0.3062, which is equal to the seven day volume weighted average) as payment of the second tranche of the purchase price to the vendors under the share purchase agreement for the acquisition of CannMart Labs Inc. The issuance is considered to be a shares for debt transaction under the policies of the TSX Venture Exchange (the "TSX-V") and remains subject to TSX-V approval.
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:
NamasteTechnologies.com
NamasteMD.com
Cannmart.com
For more information please contact:
Namaste Technologies Inc.
Meni Morim, CEO
Edward Miller, VP Investor Relations
Ph: 647-362-0390
Email: ir@namastetechnologies.com
Source: Namaste Technologies Inc
