- CannMart
to launch high demand, strong margin 1-Gram vape carts with
licensed Phyto brand
-
Namaste retains market-making services
TORONTO, Jan. 7, 2021 /CNW/ - 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 the launch of its 2.0
consumer-focused recreational house brand "Roilty".
Under the Roilty brand, Namaste's wholly owned subsidiary CannMart
Inc. ("CannMart") will launch new products such as live
resin targeted to be available in February, followed by rosin,
shatter, crumble and wax in successive quarters. Trademark for
Roilty is pending approval.
Roilty:
- The focus of the new brand Roilty is specifically focused
around 2.0 products. With the recent acquisition of CannMart Labs
Inc., Namaste now has the capability to develop high quality
products that are in high demand at a lower price than competitors.
Roilty will be positioned as a high-end, accessible mainstream
brand
- CannMart Labs facility in Ontario is completed for BHO extraction using
leading extraction technology, making it one of only a few
facilities in Canada with such
capabilities
- Set to produce in-house branded Cannabis 2.0 products for
medical channel customers available at CannMart.com and
recreational customers across Canada through sister company CannMart's
network of provincial sales partners
- Cannabis 2.0 products initially planned include vape
cartridges, live resin and shatter, with capabilities to expand
future product offerings to rosin, capsules, tinctures and
edibles
Phyto 1-Gram Vape Cartridges:
CannMart to launch Phyto 1-gram vape carts, a product with high
demand coupled with high margins. We anticipate a shift in consumer
demand from 0.5-gram to 1-gram vape
carts.
The following SKU's will be available in a 1-gram cartridge:
- Blueberry
- Pink Kush
- Grapefruit Haze
- Green Apple
A purchase order from a province has just been received for two
of our best-selling strains, Blueberry and Pink Kush. Grapefruit
Haze and Green Apple are two new strains based on consumer demand
feedback.
"We are excited for the launch of our in-house brand "Roilty" as
we see an increasing demand for additional 2.0 products with a
strong value proposition," said Meni
Morim, CEO of Namaste. "We are working hard towards
receiving our processing licence from Health Canada and look
forward to producing our in house branded Cannabis 2.0 products,
for our medical channel customers at CannMart.com and recreational
consumers across Canada through
our network of provincial sales partners. We are clearly
focused on the execution of our strategy to position Namaste as a
leading cannabis company and look forward to building on this
positive momentum in 2021."
Namaste Retains Market-Making Services:
Namaste has, subject to regulatory approval, retained Venture
Liquidity Providers Inc. (VLP) to initiate its market-making
service to provide assistance in maintaining an orderly trading
market for the common shares of the Company.
The market-making service will be undertaken by VLP through a
registered broker, W.D. Latimer Co. Ltd., in compliance with the
applicable policies of the TSX Venture Exchange and other
applicable laws. For its services, the corporation has agreed to
pay VLP $5,000 per month for a period
of 12 months. The agreement may be terminated at any time by the
corporation or VLP. The corporation and VLP act at arm's length,
and VLP has no present interest, directly or indirectly, in the
corporation or its securities. The finances and the shares required
for the market-making service are provided by W.D. Latimer. The fee
paid by the company to VLP is for services only.
VLP is a specialized consulting firm based in Toronto providing a variety of services
focused on TSX-V-listed issuers.
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:
NamasteTechnologies.com
NamasteMD.com
Cannmart.com
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 the future success of Namaste's
business strategy, 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 standing in the
online marketplace for cannabis products, Namaste's beliefs
regarding the expected demand for cannabis products and the
expected growth of that market, 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: regulatory risk, risks relating to the
Company's ability to execute its business strategy 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.
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SOURCE Namaste Technologies Inc.