VANCOUVER, Dec. 21, 2018 /CNW/ - Namaste Technologies Inc.
("Namaste" or the "Company") (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) is providing an update on its supply arrangements with
Manitoba-based licensed producer, Bonify Inc. ("Bonify"). The Company's wholly-owned
subsidiary, Cannmart Inc. ("CannMart") is responsible for ensuring the quality of the medical cannabis products it
distributes in dried form and has strict quality assurance standards intended to review analytical testing reports provided by
licenced producers. In addition, CannMart may engage licenced laboratories to perform independent analytical testing using
validated methods to ensure that these products meet microbial and chemical contaminant limits specified by the Good
Production Practice requirements of the cannabis regulations.
The Company is pleased to report that these procedures rejected the supply of dried cannabis from Bonify Inc. ("Bonify"),
which was the subject of the recall by Health Canada on December 7, 2018 and the relevant product
was immediately returned to Bonify. CannMart has elected to suspend all further purchases and distribution of products it
previously purchased from Bonify until further instructions are received from Health Canada and adequate independent testing is
performed.
About Namaste Technologies Inc.
Namaste Technologies is Your Everything Cannabis Store™. Namaste operates the largest global cannabis e-commerce platform with
over 30 websites in 20+ countries under various brands. Namaste's product offering through its subsidiaries includes vaporizers,
glassware, accessories, CBD products and medical cannabis in the Canadian market thorough its licensed subsidiary,
CannMart.com.
Namaste has developed and acquired innovative technology platforms including NamasteMD.com, and in May
2018 the Company acquired a leading e-commerce AI and Machine Learning Company, Findify AB. Findify uses artificial
intelligence algorithms to optimize and personalize a consumer's on-site buying experience. Namaste is focused on leveraging its
cutting-edge technology to enhance the user experience throughout its platforms. Namaste will continue to develop and
acquire innovative technologies which will provide value to the Company and to its shareholders as well as to the broader
cannabis market.
On behalf of the Board of Directors
"Sean Dollinger"
Chief Executive Officer
Direct: +1 604-355-6100
Email: info@namastetechnologies.com
Further information on the Company and its products can be accessed through the links below:
NamasteTechnologies.com
NamasteMD.com
NamasteVapes.ca
Everyonedoesit.ca
FORWARD-LOOKING INFORMATION This press release contains forward-looking information based on current expectations. These
statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those
implied by such statements. Although such statements are based on management's reasonable assumptions, Namaste assumes no
responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are
reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that
they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they
involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could
differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed
in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com. This press release contains "forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking
statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSXV has
neither reviewed nor approved the contents of this press release.
SOURCE Namaste Technologies Inc.
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