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Namaste Announces Change of Year-End to Nov 30th and Option Issuance
Namaste Announces Change of Year-End to Nov 30th and Option Issuance Canada NewsWi...
About this update from Lifeist Wellness Inc
[{"type":"text","content":"\n\n\n\nNamaste Announces Change of Year-End to Nov 30th and Option Issuance\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Aug. 7, 2018\n\n\n\nVANCOUVER, Aug. 7, 2018 /CNW/ - Namaste Technologies Inc. (\"Namaste\" or the \"Company\") (CSE: N), (FRANKFURT: M5BQ), (OTCMKTS: NXTTF) is pleased to announce that that its board of directors has resolved to change the Company's fiscal year-end from August 31st to November 30th effective immediately, by extending the 2018 fiscal year to 15-months in order to facilitate efficiencies in the administration, accounting and production of the annual audited financial statements. \n\nSubject to the terms of the Company's Stock Option Plan, Namaste's board of directors has also approved the issuance of 265,000 options to certain directors and consultants of the Company. All options are exercisable at a price of $1.39 per common shares for a period of five years. The options will vest in quarterly installments over a two-year period.\n\nManagement Commentary\n\nSean Dollinger, President and CEO of Namaste comments: \"We are very pleased to have changed the fiscal year-end date to November 30th. We have focused much energy and resources to reinforce and expand our finance team led by our new CFO Kenneth Ngo, and this change will be impactful for efficient financial operations of the company.\"   \n\nAbout Namaste Technologies Inc.\n\nNamaste 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 the company will soon be selling medical cannabis in the Canadian market, subject to approval by Health Canada.\n\nNamaste has developed and acquired innovative technology platforms including NamasteMD.com, Canada's first Health Canada compliant telemedicine application, and in May 2018 the Company acquired a leading e-commerce AI and Machine Learning Company, Find...