VANCOUVER, Nov. 8, 2018 /CNW/ – Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) is pleased to announce that the Company has acquired over 28,000 registered users through NamasteMD Inc. (“NamasteMD”), and that the Uppy Strain Journal (“Uppy” or “Uppy.com”) has now been downloaded over 23,000 times. The NamasteMD app is available on iOS and Android devices and online at NamasteMD.com. NamasteMD is an online platform which provides free access to medical cannabis consultations through secure video conferencing. The Uppy Strain Journal collects user-generated data on cannabis strains and their impact on various medical conditions.
NamasteMD’s recent growth is attributed to an increase in organic traffic and patient referrals, and represents a 48% increase from the previous month. NamasteMD connects patients with licensed producers including the Company’s wholly-owned subsidiary, Cannmart Inc. (“Cannmart”) to purchase medical cannabis products. The Company anticipates further growth of the NamasteMD platform and has expanded its network of healthcare consultants to meet demand. The Company also intends on submitting the app to the Apple and Google Play stores in the UK, where it will leverage its existing database of over 500,000 users to develop a similar model to its Canadian market. Namaste is continuously looking to expand its platform in other regions where telemedicine and cannabis become legalized. With over 1.5 million customers globally and Namaste operating in over 20 countries, the Company will have a competitive advantage in emerging markets.
The Company is also pleased to report that its cannabis journaling app, the Uppy Strain Journal has been downloaded on over 23,000 devices. Data collection through Uppy will drive machine learning algorithms that will be used in tandem with cannabis strain data to provide patients with enhanced strain recommendations. By adding value for medical patients in an online environment, the Company anticipates achieving a lower cost per patient acquisition, higher conversion rates, increased revenue and provide a better user experience.
The Company’s goal is to offer a fully-integrated and truly unbiased online marketplace for medical cannabis with a diverse selection of products, where user feedback through Uppy, better strain recommendations and an emphasis on customer service provide an exceptional user experience. The overall platform guides patients from consultation through prescription and ordering from Cannmart within the same day. Cannmart has been processing and shipping orders with next-day delivery and will soon be integrated with its partner, Pineapple Express Inc. (“Pineapple Express”) to offer same-day delivery in the GTA area.
Management Commentary:
Sean Dollinger, President and CEO of Namaste comments: “We’re proud to be at the point where we can have someone place an order within an hour of being seen by a nurse practitioner, which we believe to be the best turn-around time in the industry. Our goal is to streamline the process of acquiring medical documentation and accessing medical cannabis through an online marketplace and in offering the best user experience possible. We’re looking forward to launching same-day delivery with Pineapple Express and on continued growth. We have received positive feedback from Cannmart patients and will continue to optimize the platform and add new features to bring value to our patients.”
About Namaste Technologies Inc.
Namaste Technologies is Your Everything Cannabis Store™. Namaste operates the largest global cannabis e-commerce platform with over 30 websites in 20+ countries under various brands. Namaste’s product offering through its subsidiaries includes vaporizers, glassware, accessories, CBD products, and medical cannabis in the Canadian market.
Namaste has developed and acquired innovative technology platforms including NamasteMD.com, and in May 2018 the Company acquired a leading e-commerce AI and Machine Learning Company, Findify AB. Findify uses artificial intelligence algorithms to optimize and personalize a consumer’s on-site buying experience. Namaste is focused on leveraging its cutting-edge technology to enhance the user experience throughout its platforms. Namaste will continue to develop and acquire innovative technologies which will provide value to the Company and to its shareholders as well as to the broader cannabis market.
On behalf of the Board of Directors
“Sean Dollinger”
Chief Executive Officer
Direct: +1 604-355-6100
Email: [email protected]
Further information on the Company and its products can be accessed through the links below:
NamasteTechnologies.com
NamasteMD.com
NamasteVapes.ca
Everyonedoesit.ca
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 TSXV has neither reviewed nor approved the contents of this press release.
