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The Agreement marks Namaste's entrance into the direct-to-consumer recreational cannabis market via CannMart.com by using its new marketplace solution, VendorLink, to facilitate the sale of cannabis products by licensed retailers. For High Tide, the Agreement accelerates its growth plans in the province and expands its customer reach based on CannMart's established e-commerce business. Customers within the designated region will be able to shop a diverse catalogue of recreational cannabis products without the need for a prescription. Conversely, CannMart's medical customers in
"This is a landmark moment for Namaste. I've been grateful for the opportunity to put all the pieces together to deliver on the mission that Namaste committed to shareholders over the past years. We've finally reached the point where they can start to see the fruition of that mission: to provide the technology and infrastructure for Canadians to order cannabis safely and reliably no matter where they are," said
"This Agreement brings together two complementary enterprises that are focused on the Canadian cannabis consumer and providing safe and convenient access to residents across
"Everyone talks about AI, e-commerce, UI/UX and other technology when it comes to online shopping. We live and breathe e-Commerce technology and know what matters: the customer, the vendors, and how they find each other. Our marketplace, VendorLink, is a matchmaker, much like Uber,
This initiative is part of Namaste's overarching goal to increase its total addressable market, as well as offer customers a frictionless buying experience on CannMart.com. Licensed cannabis retailers across
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About High Tide
High Tide is a retail-focused a retail-focused cannabis corporation enhanced by the manufacturing and distribution of cannabis lifestyle accessories. Its premier Canadian retail brand Canna Cabana spans 34 locations in
High Tide's strategy as a parent company is to extend and strengthen its integrated value chain, while providing a complete customer experience and maximizing shareholder value. Key industry investors in High Tide include Aphria Inc. (TSX: APHA) (NYSE: APHA) and Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB).
For more information about
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this news release are forward-looking information or forward-looking statements. Such information and statements, referred to herein as "forward-looking statements" are made as of the date of this news release or as of the date of the effective date of information described in this news release, as applicable. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations, or beliefs regarding future events. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (generally, forward-looking statements can be identified by use of words such as "outlook", "expects", "intend", "forecasts", "anticipates", "plans", "projects", "estimates", "envisages, "assumes", "needs", "strategy", "goals", "objectives", or variations thereof, or stating that certain actions, events or results "may", "can", "could", "would", "might", or "will" be taken, occur or be achieved, or the negative of any of these terms or similar expressions, and other similar terminology) are not statements of historical fact and may be forward-looking statements.
Such forward-looking statements are based on assumptions that may prove to be incorrect. However, there can be no assurance that any one or more of the government, industry, market, operational or financial targets as set out herein will be achieved. Inherent in the forward-looking statements are known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements. The forward–looking statements contained herein are current as of the date of this news release. Except as required by law, High Tide does not have any obligation to advise any person if it becomes aware of any inaccuracy in or omission from any forward-looking statement, nor does it intend, or assume any obligation, to update or revise these forward-looking statements to reflect new events or circumstances. Any and all forward-looking statements included in this news release are expressly qualified by this cautionary statement, and except as otherwise indicated, are made as of the date of this news release.
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