TORONTO/CNW/ – Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) provided the following letter to its shareholders on Feb. 8, 2019.
Dear fellow shareholders,
I want to thank all our shareholders for your continued support for our company over the past week. I know a lot of you have questions about the future of Namaste.
In situations like this there is often a great deal of rumour and speculation circling around. I want you to know the company will provide updates whenever possible. I’d urge you to focus on communications that you receive from the company and ignore the rumours even though I know they can get loud.
I’d also ask you to focus on what really matters:
This is a fantastic company with great people, products and prospects.
We have a strong, talented management team in place, and we all believe the future of Namaste is bright. I’m incredibly humbled and excited by the opportunity I have as Interim CEO to lead this company forward, but it’s truly not about me; Namaste is bigger than any one individual.
We have great people across the company and a solid business. With that in mind, and looking at our performance to date, we’re in a great position. Consider the following facts:
1. Our team has not stopped innovating:
a. We have powerful Artificial Intelligence capabilities that are being deeply integrated into our customer experience – and we’re continuing development.
b. We’re developing Uppy version 2.0 based on feedback from our customers.
c. NamasteMD has been completely re-architected and will be released in the coming weeks. This will improve performance, user experience and enable rapid deployment in new markets.
d. We’re near completion of our ERP replacement project. This will drive supply chain optimization, improved operational efficiency and better reporting capabilities.
2. We have a license to distribute medical cannabis in Canada and strong supply agreements. The selection on Cannmart continues to grow, and we are working on improving the buying experience.
3. Our business development team led by our Chief Strategy Officer has a healthy pipeline of partnerships which will continue to strengthen the position of the company.
4. We have a strong cash position that enables us to execute on our strategy and continue to innovate.
In short, the management team’s focus continues to be on executing our strategic plan, growing the business and creating shareholder value for you, Namaste’s owners. That is our mandate, and we are moving full-steam ahead.
Thank you for your ongoing patience and support, and we’ll continue updating everyone as things progress.
Meni Morim, Interim CEO
About Namaste Technologies Inc.
Namaste Technologies powers the ultimate online customer experience for medicinal cannabis and related products. Beginning with NamasteMD.com, the Company’s integrated telemedicine application, we connect medical clients with health care practitioners to more readily issue and renew cannabis prescriptions online. Featuring the first Canadian Medical Sales-Only Licence, the Company’s own Cannmart.com is your ‘everything cannabis store‘ offering clients a large variety of strains to fill their prescription needs. Namaste’s unique artificial intelligence (AI) engine incorporated in its platforms and related Uppy App, completes our ecosystem by identifying the right product and pairing to address specific medical cannabis requirements. Namaste also provides vaporizers and accessories across several platforms operating in more than 20 countries. Namaste’s global technology addresses local needs in a burgeoning cannabis industry requiring smart solutions. For more information about Namaste, please visit www.Namastetechnologies.com.