~Indiva's CBD Softgels and Indica Capsules available on CannMart by the end of summer, with Bhang® Chocolate and Wana™ Sour Gummies to follow in Q4~
TORONTO, Aug. 20, 2020 /PRNewswire/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF), a leading online platform for cannabis products, accessories, and responsible education, today announced its wholly-owned subsidiary, CannMart Inc. ("CannMart"), has signed an agreement with Indiva Inc., a wholly-owned subsidiary of Indiva Limited ("Indiva") (TSXV:NDVA) (OTCQX:NDVAF), a leading Canadian producer of cannabis edibles and other cannabis products, to offer a selection of Indiva's products on CannMart's B2C distribution channel for their medical customers.
"CannMart is increasing its reach into the legal Canadian cannabis market and is a natural choice for our award winning products," said Niel Marotta, President and CEO, Indiva Limited. "Our softgels and capsules are highly regarded for their consistency and quality and will be available on the CannMart marketplace in late August. Later this fall we look forward to introducing our award-winning Bhang® Chocolate and Wana™ Sour Gummies to the CannMart product universe."
"Indiva's CBD Softgels, Indica Capsules along with Bhang® Chocolates and Wana™ Sour Gummies are a great addition to CannMart," said Meni Morim, CEO of Namaste Technologies Inc. "We have made tremendous inroads in both the medical and recreational sales channels and the investment we made in our processing and distribution facilities has allowed us to expand our presence within the legal Canadian cannabis market. As we add more high-quality Cannabis 2.0 products from leading companies like Indiva, we look to drive additional customers, suppliers and revenue to CannMart. We are excited to add these high quality, innovative products to our Cannabis 2.0 category and will work with Niel and his team to grow the Indiva product offering on CannMart."
Indiva is a licensed producer of premium cannabis and cannabis products, and a provider of production and manufacturing services to third parties. Its state-of-the-art facility in London, Ontario includes environmentally-conscious grow rooms and a production and manufacturing space that produces safe, high-quality cannabis products. Indiva produces and distributes high-quality and award-winning Bhang® Chocolate, Wana™ Sour Gummies, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt, and other derivative products through license agreements and joint ventures.
Namaste is adding Indiva's product line to CannMart, its online marketplace, as it continues to expand its Cannabis 2.0 product offering. CannMart is an online marketplace carrying a large selection of legal cannabis products and accessories from many of the best cannabis producers in Canada and around the world. It is focused on providing medical cannabis patients and adult-use enthusiasts with access to the highest quality cannabis products available. CannMart also prepares, packages and distributes cannabis products through strategic relationships with leading government agencies.
Annual General Meeting
Shareholders are reminded that the Company will be holding its annual general meeting ("AGM") in virtual online format only at 2:00 p.m. on Tuesday, September 29, 2020. Meeting materials are expected to be delivered and filed shortly which will provide details on how to attend and vote at the AGM. The Company is relying on the exemption in Ontario Instrument 51-504 Temporary Exemption from Certain Requirements to File or Send Securityholder Materials and equivalent blanket orders granted in other jurisdictions where the Company is a reporting issuer for the delay in complying with the annual request form requirement, the executive compensation disclosure requirement and the send-on-request requirements (as those terms are defined in the blanket orders), which will be complied with when the meeting materials for the AGM are delivered and filed.
Indiva sets the standard for quality and innovation in cannabis. As a Canadian licensed producer, Indiva creates premium pre-rolls, flower, capsules, and edible products and provides production and manufacturing services to peer entities. In Canada, Indiva produces and distributes the award-winning Bhang® Chocolate, Wana™ Sour Gummies, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt and other Powered by INDIVA™ products through license agreements, partnerships and joint ventures. For more information please visit: https://www.indiva.com/
About Namaste Technologies Inc.
With headquarters 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 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.
Information on the Company and its many products can be accessed through the links below:
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 statements related to the expected availability of Indiva's products on CannMart's B2C distribution channel and the Company's ability to add more high-quality Cannabis 2.0 products in the future to drive additional customers, suppliers and revenue to CannMart, 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, management's perceptions of Indiva, its products and its standing in the cannabis industry, the expectation by management that Indiva's brand awareness among Namaste's existing and new customer base will drive sales, the expected demand for Cannabis 2.0 products and the growth of that market 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 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 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 operations, and risks relating to the market price of Namaste's 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.
SOURCE Namaste Technologies Inc.