~Company's listed common shares continue to trade under MCTO while audit process continues~
TORONTO, April 2, 2019 /CNW/ - Namaste Technologies Inc.
("Namaste" or the "Company") (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) announces that its principal regulator,
the British Columbia Securities Commission, has accepted the Company's application for, and has granted, a management cease trade
order (the "MCTO"). As previously announced on March 18, 2019, the application for the MCTO
was made by the Company due to a delay in the filing of its audited annual financial statements for the fiscal year ended
November 30, 2018, the accompanying management's discussions and analysis and the related CEO and
CFO certifications (collectively, the "Annual Filings") by the filing deadline of April 1,
2019. The delay in completing the Annual Filings is to permit sufficient time for its newly appointed auditor, Baker Tilly
WM LLP, to complete its audit.
During the period in which the MCTO is effective, the general investing public, who are not insiders of the Company, will
continue to be able to trade in the Company's listed common shares. However, the Company's CEO and CFO will not be able to trade
the Company's shares until such time as the Annual Filings have been filed by the Company and the MCTO has been lifted.
Namaste's board of directors and its management confirm that they are working expeditiously to meet the Company's obligations
relating to the filing of the Annual Filings. At this time, the Company anticipates being able to complete the Annual Filings by
May 31, 2019.
During the MCTO, the Company confirms that it will comply with the provisions of the alternative information guidelines set
out in National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults for as long as it remains in
default, including the issuance of bi-weekly default status reports, each of which will be issued in the form of a news
release.
About Namaste Technologies Inc.
Namaste Technologies powers the ultimate online customer experience for medicinal cannabis and related products.
Beginning with NamasteMD.com, the Company's integrated telemedicine application, Namaste connects medical clients with health
care practitioners to more readily issue and renew cannabis prescriptions online. Featuring the first Canadian Medical Sales-Only
Licence, the Company's own Cannmart.com is your 'everything cannabis store' offering clients a large variety of strains to fill
their prescription needs. Namaste's unique artificial intelligence (AI) engine incorporated in its platforms and related Uppy
App, completes our ecosystem by identifying the right product and pairing to address specific medical cannabis requirements.
Namaste also provides vaporizers and accessories across several platforms operating in more than 20 countries. Namaste's global
technology addresses local needs in a burgeoning cannabis industry requiring smart solutions. For more information about Namaste,
please visit www.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 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 in this press release, includes, but is not limited to, statements related to: the
anticipated delay in the completion of the Company's Annual Filings and the Company's ability to complete its audit and complete
the Annual Filings by May 31, 2019. The forward-looking information contained herein 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 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 international operations, and risks relating to
the market price of the 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.
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