Namaste Announces CannMart Success with IGNITE International Exclusivity Arrangement and Listing of Cannabis 2.0 Products in Alberta and Ontario
~ Continued brand name and sales channel growth for CannMart supports value proposition, brand-new item launches, and profits growth ~
TORONTO, June 22, 2020/ PRNewswire/ – Namaste Technologies Inc. (” Namaste” or the “Business”) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF), a leading platform for marijuana products, devices, and education, today announced CannMart Inc. (” CannMart”), an entirely owned subsidiary, has actually been approved a special license by IGNITE International Brands, Ltd. (” SPARK”) (CSE: BILZ) (OTCQX: BILZF) to utilize specific brand hallmarks on cannabis-based products for sale in the legal Canadian market. In addition, CannMart has actually gotten approval from Alberta Video gaming, Liquor & Marijuana (” AGLC”) and the Ontario Marijuana Retail Corporation running as the Ontario Cannabis Store (” OCS”) to begin using Marijuana 2.0 products.
” Our contract to end up being the exclusive distributor of IGNITE items in Canada is an essential turning point for the business and favorably reflects on our value proposition,” stated Meni Morim, CEO of Namaste Technologies. “CannMart continues to demonstrate its capability to grow its sales circulation channels in the Canadian market and this is drawing in the attention of reputable brands like IGNITE. We position a high worth on our relationships with these brands as it is our belief that brand recognition will be a major driver of growth as the legal industry matures and transitions to consumer-packaged products. The opportunity for CannMart to be the special distributor for IGNITE in Canada enhances our position in the competitive marijuana market as consumers gravitate towards brand names that are popular and trusted for their quality.”
” The listing of Cannabis 2.0 items for the provinces of Ontario and Alberta is an essential accomplishment and opens meaningful extra revenue channels. The Cannabis 2.0 market is a large addressable market and the approval to note our products in Alberta and Ontario, with more than 450 and 90 cannabis stores respectively, represents a substantial boost in the addressable market for CannMart. We anticipate to continue our current sales success of marijuana items from premium brands, like IGNITE, through CannMart.com and throughout our network of federal government partners and retailers.”
“ Canada is a crucial market for IGNITE International Brands and CannMart has actually shown its ability to deliver high quality items to our target market,” stated Lester Lee, President of IGNITE. “The awareness of the IGNITE brand name continues to develop throughout Canada and our product sales continue to grow. The team at CannMart has actually contributed and has actually proven their proficiency to navigate the regulations within the legal market. We rely on that our brand name can be nurtured in accordance with our high requirements and together we can continue to develop on our early success as we aim to grow market share.”
Additional to the press release of March 20, 2020, CannMart and FIRE UP have amended the licensing arrangement to include exclusivity to the marketplaces in Canada The modified agreement grants CannMart an exclusive licence to use particular FIRE UP brand hallmarks on legal cannabis-based items (the “IGNITE Products”) in consideration for particular royalty payments. CannMart’s intro of IGNITE marijuana items has been invited by its clients and need has actually continued to grow.
CannMart’s listing of its very first Cannabis 2.0 items in the provinces of Alberta and Ontario are now approved by both jurisdictions. CannMart’s very first offering will be a variety of vape cartridges. The AGLC is responsible for controling and distributing marijuana to Alberta’s licensed sellers and the sole legal online seller for leisure cannabis at www.albertacannabis.org The OCS is the sole legal online merchant and wholesaler for leisure marijuana for Canada’s most populous province.
About Ignite International Brands Ltd.
FIRE UP is a worldwide customer brand, operating in the premium product section of the market. Established by Dan Bilzerian, Sparks ‘quality-first’ method is essential to the brand name and its products. Originally running in the cannabis and hemp-derived cannabidiol (CBD) health area, IGNITE was able to establish its brand awareness. IGNITE product categories now consist of a full line of CBD oil casts, CBD topicals, CBD pet products and CBD vape devices, produced by various partners and sold through choose distributors, brick and mortar sellers, and online through IGNITE’s website, ignite.co. The IGNITE THC product line, which was released subsequent to the CBD product line, integrates quality, in your area sourced, cannabis products.
Since the launching of its THC and CBD items, SPARK has broadened into the beverage space, introducing a full line of functional efficiency enhancing drinks. The IGNITE drink line currently includes PH-alkaline balanced water, a line of premium performance beverages, named Z-RO in addition to a gluten-free, seven-time distilled Vodka. IGNITE drinks will be distributed nationally within the United States and readily available to purchase on the IGNITE beverages site, IgniteBeverages.co.
SPARK is a socially accountable business and is dedicated to using its marketing and brand name power as a favorable driver for a healthy way of life. The IGNITE management team thinks that socially accountable oriented actions have a positive influence on IGNITE, its staff members and its investors.
Shares of IGNITE are noted on the Canadian Securities Exchange (CSE) under the sign “BILZ” and in the United States on the OTCQX under the sign “BILZF”.
About Namaste Technologies Inc.
With head office in Toronto, ON, and offices in both B.C. and around the globe, Namaste Technologies is a leading online platform for cannabis items, accessories, and accountable education. The company’s ‘whatever marijuana shop’, CannMart.com, offers clients with a varied selection of hand-picked products from a wide variety of federally-licensed farmers, all on one practical site. Namaste’s worldwide innovation and continuous innovation address local requirements in a blossoming marijuana industry requiring smart solutions.
Info on the Company and its numerous products can be accessed through the links below:
POSITIVE INFORMATION– This press release includes “forward-looking information” within the significance of suitable securities laws. All declarations contained herein that are not historic in nature consist of forward-looking details. Positive details can be determined by words or expressions such as “may”, “anticipate”, “most likely”, “must”, “would”, “strategy”, “expect”, “mean”, “potential”, “proposed”, “estimate”, “think” or the unfavorable of these terms, or other comparable words, expressions and grammatical variations thereof, or statements that certain events or conditions “might” or “will” take place. The forward-looking info consisted of herein is made as of the date of this news release and is based upon presumptions management believed to be reasonable at the time such declarations were made, consisting of management’s perceptions of Namaste’s standing in the online market for marijuana products and its capability to increase revenue in the Canadian market through the sale of recognized, high quality and premium brand names, the size and value of the Marijuana 2.0 market as an income generator for CannMart, and the Company as a whole, the significance of being certified to sell products throughout the Company’s network of government partners and merchants management’s understandings of IGNITE and its standing in the cannabis industry, the expectation by management that SPARK’s brand name awareness among Namaste’s existing and brand-new consumer base will chauffeur sales, future development, results of operations, operational matters, historic patterns, present conditions and expected future advancements, along with other factors to consider that are believed to be suitable in the situations. While we think about these assumptions to be sensible based upon information presently readily available to management, there is no guarantee that such expectations will show to be appropriate. By their nature, positive info undergoes inherent threats and unpredictabilities that might be general or particular and which generate the possibility that expectations, projections, forecasts, forecasts or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, tactical objectives and concerns will not be achieved. A variety of elements, consisting of known and unknown risks, much of which are beyond our control, could trigger actual outcomes to vary materially from the positive details in this news release. Such elements include, without restriction: dangers associating with the Business’s ability to execute its organisation strategy and the advantages realizable therefrom, the Company’s inability to accomplish expected sales results through its special relationship with IGNITE, the failure of the Cannabis 2.0 market to establish as anticipated, customer reception to premium brands and acknowledgment of trademarks being lesser than anticipated, risks related to the Marijuana industry in general, and threats relating to the market price of Namaste typical shares. Extra threat aspects can likewise be found in the Business’s current MD&A which has been submitted under the Company’s SEDAR profile at www.sedar.com Readers are cautioned not to put excessive reliance on positive information. The Company undertakes no responsibility to update or modify any forward-looking info, whether as a result of brand-new info, future occasions or otherwise, except as required by relevant law. Positive statements contained in this news release are specifically qualified by this cautionary statement.
Neither the TSX Endeavor Exchange nor its Guideline Solutions Supplier (as that term is defined in the policies of the TSX Endeavor Exchange) accepts obligation for the adequacy or precision of this release or has in any method authorized or disapproved of the contents of this press release.
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SOURCE Namaste Technologies Inc.