- Received confirmation from Health Canada that the facility acquired in the acquisition of Cannmart Inc. is under the review stage of its application
- Under the Access to Cannabis for Medical Purposes Regulations to become a “sales only†licensed producer of medical cannabis
VANCOUVER, British Columbia, Sept. 05, 2017 — Namaste Technologies Inc. (“Namaste†or the “Companyâ€) (CSE:N) (FRANKFURT:M5BQ) (OTCMKTS:NXTTF) is pleased to announce that it has received confirmation from Health Canada that the facility (the “Facilityâ€) acquired in the acquisition of Cannmart Inc. (“CannMartâ€) is under the review stage of its application (the “Applicationâ€) under the Access to Cannabis for Medical Purposes Regulations (the “ACMPRâ€) to become a “sales only†licensed producer of medical cannabis. Namaste has also engaged David Hyde & Associates to provide security consulting for the Facility and Eurofins Experchem Laboratories Inc. (“Eurofins Experchemâ€) to consult for CannMart on regulatory compliance.
On August 22, 2017, CannMart received confirmation from Health Canada that it has reached the review stage of the Application, during which Health Canada will be completing a thorough review of the Application. Concurrently, CannMart’s submitted personnel security clearances are being processed. The Security Clearance Application Forms that were submitted as part of the Application will be reviewed for completeness before a request is submitted to the RCMP to conduct a check of the relevant files of law enforcement agencies, including intelligence gathered for law enforcement purposes.
Over the past 4 years, David Hyde & Associates has provided security consulting services to over 165 ACMPR license applicants across Canada, worked with 27 licensed producer sites and attended 22 pre-license inspections with Health Canada. Its 11-member team has extensive experience in security consultation within the regulated medical cannabis sector in Canada and beyond and recently became the first Associate Member of the Cannabis Canada Association.
Eurofins Experchem has been engaged by Namaste to provide regulatory consulting services for CannMart through its final stages of approval from Health Canada. Eurofins Experchem provides a wide range of regulatory and testing services for the Canadian medical cannabis industry, ensuring that facilities comply with the Marihuana for Medical Purposes Regulations.
Management Commentary
Sean Dollinger, President and CEO of Namaste comments: “We are very excited to make this announcement on the progress of activities with our CannMart facility. We are also very much looking forward to working with the teams from both David Hyde & Associates and Eurofins Experchem Laboratories Inc. to consult for CannMart during this stage and once operations at the Facility begin.â€
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 ecommerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.
On behalf of the Board of Directors
“Sean Dollingerâ€
Chief Executive Officer
Direct: +1 (786) 389 9771
Email: [email protected]
Further information on the Company and its products can be accessed through the links below:
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 CSE has neither reviewed nor approved the contents of this press release.
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