VANCOUVER, British Columbia, April 19, 2018 (GLOBE NEWSWIRE) -- Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N) (FRA:M5BQ) (OTCMKTS:NXTTF) is pleased to announce that it has received conditional approval to list the common shares and warrants of the Company on the TSX Venture Exchange (“TSXV”) as a Tier 1 issuer. The listing is subject to the Company fulfilling certain requirements of the TSXV in accordance with the terms of its conditional approval letter dated April 18th, 2018. The Company anticipates that the common shares will continue to trade under the trading symbol "N" and its warrants will continue to trade under the symbol "N.WT."
The Company will proceed expeditiously to satisfy these conditions and management is confident that all conditions for listing will be met. Upon obtaining final approval, the Company will issue a further press release to inform shareholders when it anticipates that its common shares and warrants will commence trading on the TSXV.
Sean Dollinger, President and CEO of Namaste comments: “We are very pleased to have received conditional approval from the TSXV. We’re also proud to have been accepted as a Tier 1 issuer. We believe that this listing will provide the company and its shareholders with many advantages, including greater visibility and enhanced market access for Canadian and international investors. We’re extremely proud to join the ranks of many innovative cannabis companies in our industry and gain new exposure through a larger exchange. We will remain committed to expanding our business strategy through innovation to help solidify our position in the cannabis sector.
I’d like to take this opportunity to thank the Canadian Securities Exchange (“CSE”) for their tremendous support. We greatly appreciate the CSE for providing us with a platform for Namaste to grow and we’re excited to be moving forward towards the anticipated TSXV listing.”
About Namaste Technologies Inc.
Namaste is the largest online retailer for medical cannabis delivery systems globally. Namaste distributes vaporizers and smoking accessories through 24 e-commerce sites in 20 countries and with distribution hubs located around the world. Namaste has majority market share in Europe and Australia, with operations in the UK, Canada and Germany and has opened new supply channels into emerging markets including Brazil, Mexico and Chile. Namaste, through its acquisition of Cannmart Inc., a Canadian based late-stage applicant for a medical cannabis sales licence (under the ACMPR Program) is pursuing a new revenue vertical in online retail of medical cannabis in the Canadian market. Namaste intends to leverage its existing database of Canadian medical cannabis consumers, along with its expertise in e-commerce to create an online marketplace for medical cannabis patients, offering a larger variety of product and a better user experience.
On behalf of the Board of Directors
Chief Executive Officer
Direct: +1 (786) 389 9771
Further information on Namaste 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 harbour provisions of the Private Securities Litigation Reform Act of 1995. The Canadian Securities Exchange has neither reviewed nor approved the contents of this press release.