Namaste Technologies Exploring Entry into the USA Leveraging Proprietary VendorLink Technology via CannMart.com in Collaboration with DankStop
- CEO Meni Morim to present at NobleCon17 investor conference
TORONTO, Jan. 12, 2021 /PRNewswire/ - 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, entry into the USA via CannMart.com. The Company looks forward to leveraging its VendorLink technology in collaboration with DankStop. The Company also announced that 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 expansion.
As the regulatory landscape continues to improve in the USA and globally, Namaste has begun the exploration of entering the USA via CannMart.com leveraging its proprietary VendorLink platform. The Company, through an appropriate affiliate, intends to use this expansion as a beachhead into the USA increasing its total addressable market by commencing with the sale of accessories as permissible under applicable state laws, and is exploring expansion to other verticals as regulation evolves and other adjacent complementary markets. The Company is targeting a go-live date for U.S. customers at CannMart.com by the end of this fiscal quarter.
"We applaud the U.S. government's recent decision to support the removal of cannabis and cannabis resin for medical purposes from Schedule IV of the UN Single Convention on Narcotic Drugs of 1961, and we are very pleased to collaborate with the exceptional DankStop team which has become one of the world's largest and fastest growing online smoking supply retailers," said Meni Morim, CEO of Namaste. "We have worked tirelessly these past couple of years to build the technological infrastructure at CannMart.com, and we are excited to explore the many opportunities available to Namaste to expand globally. With the changing regulatory landscape improving in the USA and our entry through the sale of accessories fulfilled by DankStop, 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."
"DankStop has been focused on continuing its execution of growth through its leading and innovative website, offering the largest product selection for the online smoking supply industry," said Feliks Khaykin, CEO of DankStop. "We are pleased to be working with the Namaste team as we mutually share the entrepreneurial passion both companies have towards growth through innovation."
Namaste to Present at NobleCon17 Investor Conference:
Namaste today announced that Mr. Meni Morim, CEO will present at NobleCon17 – Noble Capital Markets Seventeenth Annual Conference on Wednesday, January 20th at 3:45 p.m. Eastern Standard Time. The conference this year is virtual, with no cost, obligation or restrictions to attend: www.noblecon17.com.
A high-definition, video webcast of the presentation will be available the following day on the Company's website, and as part of a complete catalog of presentation to be rebroadcast on Channelchek www.channelchek.com next month.
About DankStop
DankStop is the one of the world's largest and fastest growing online smoking supply retailers. Nothing like your ordinary headshop, DankStop is the quickest, cheapest, and easiest way to get the best smoking supplies delivered discreetly to your door. With an industry leading and innovative website, dedicated support team, and the biggest product selection available online, DankStop has single-handedly raised the bar for the online smoking supply industry since 2014. From humble beginnings, our co-founders started DankStop in "moms basement". Our founding vision was to remove the "sketchy" stigma from the headshop industry by providing high quality, low priced products in a simple and transparent manner. Leveraging our in house technology, we now offer a variety of B2B services for the Cannabis industry in addition to our retail websites ranging from drop shipping to third party logistics. Information on the Company and its many products can be accessed through: www.dankstop.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:
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 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 DankStop' 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 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.
SOURCE Namaste Technologies Inc.
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