- 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.
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