TORONTO, Oct. 2, 2020 /CNW/ - Namaste Technologies
Inc. ("Namaste" or the "Company") (TSXV: N) (FRANKFURT: M5BQ)
(OTCMKTS: NXTTF), a leading online platform for cannabis products,
accessories, and responsible education, today announces the mutual
termination of an agreement between CannMart Inc., a wholly owned
subsidiary of the Company, and IGNITE International Brands, Ltd.
("Ignite") to utilize certain Ignite trademarks on cannabis
based products. CannMart will continue selling remaining Ignite
inventory through provincial control boards and through its medical
channel at Cannmart.com through to December
29, 2020 and will no longer act as distributor for Ignite in
Canada. Ignite products, to the
extent made available by licensed retailers in Saskatchewan, will also continue to be
available on Cannmart.com via it's VendorLink platform.
"Our customers and partners are critical to the long-term
success of our company, and we are on a mission to connect
consumers with the solutions that fit into their lives," said
Meni Morim, CEO of the Company. "It
is also our belief that brand recognition will be a major driver of
growth as the legal industry matures and transitions to consumer
packaged goods (CPG). The cannabis landscape is continuously
changing, and I'm excited about our future, innovative product
portfolio that will continue to delight our consumers. We wish
Ignite all the best in its future endeavours."
About Ignite
IGNITE is a global consumer brand, operating in the premium
product segment of the market. Founded by Dan Bilzerian, the Company's 'quality-first'
approach is fundamental to the brand and its products. Originally
operating in the cannabis and hemp-derived cannabidiol (CBD)
wellness space, IGNITE was able to establish its brand awareness.
IGNITE product categories now include a full line of CBD oil
tinctures, CBD topicals, CBD pet products and CBD vape devices,
produced by various partners and sold through select distributors,
brick and mortar retailers, and online through the Company's
website, ignite.co. The IGNITE THC product line, which was launched
subsequent to the CBD product line, incorporates quality, locally
sourced, cannabis products.
Since the launching of its THC and CBD products, the Company has
expanded into the beverage space, launching a full line of
functional performance enhancing drinks. The IGNITE beverage line
currently consists of PH-alkaline balanced water, a line of premium
performance drinks, named Z-RO as well as a gluten-free, seven-time
distilled vodka. IGNITE beverages will be distributed nationally
within the United States and
available to purchase on the IGNITE beverages website,
IgniteBeverages.co.
IGNITE is a socially responsible company and is committed to
using its marketing and brand power as a positive catalyst for a
healthy lifestyle. The IGNITE management team believes that
socially responsible oriented actions have a positive impact on the
Company, its employees and its shareholders.
Shares of IGNITE are listed on the Canadian Securities Exchange
(CSE) under the symbol "BILZ" and quoted in the United States on the OTCQX under the
symbol "BILZF".
Further information on IGNITE can be found on the Company's
website at ignite.co
About Namaste Technologies Inc.
Headquartered in
Toronto, ON, 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 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, and are not
limited to, statements regarding Namaste's expectations regarding
its ability to connect consumers to cannabis related solution and
its product portfolio delighting consumers. 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 the
Company's expectations herein. 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 those risk
factors 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.