World’s Largest E-Commerce B2C Vaporizer Company
October '17 Sales of C$1.3m Representing a 174% Year-On-Year Increase
Message: Namaste Receives Health Canada Medical Device Establishment Licence in Order to Distribute Health Canada Approved Vaporizers
VANCOUVER, BRITISH COLUMBIA--(May 15, 2017) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
Namaste Technologies Inc. ("Namaste" or the "Company") (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ)(OTCMKTS:NXTTF) is pleased to announce that Cannmart Inc., its wholly owned subsidiary, has been approved by Health Canada for a Medical Device Establishment Licence ("MDEL"). The MDEL will allow Namaste to import and distribute vaporizers which are approved by Health Canada as Medical Devices.
The MDEL Licence approval represents a strategic milestone for Namaste. The Company will import and distribute Health Canada approved vaporizers classified as Medical Devices in Canada. The licence will provide further value in the future as new manufacturers begin to produce medical grade vaporizer and cannabis devices. This approval positions Namaste as a preferred distributor for medical grade vaporizers across the country.
About Health Canada Medical Device Establishment Licence (MDEL)
A Medical Device Establishment Licence is separate from a Medical Device Licence and is issued for the purpose of importing and selling medical devices for human use in Canada. The MDEL is issued by the Inspectorate based on an establishment certifying that they meet certain requirements and are then inspected for compliance.
Mr. Sean Dollinger, President and CEO of Namaste Technologies comments: "We are very excited about this opportunity. There are several products well known in the industry to be the best-performing vaporizers on the market. The MDEL approval adds additional value to Namaste in the future for distribution of other medical devices that align with our strategy."
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 Dollinger, Chief Executive Officer
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.
Namaste Technologies Inc.
Chief Executive Officer
Direct: +1 (786) 389 9771
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