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Namaste Sees Import Benefits from Cannbit Ltd as Israeli Parliament Approves Export of Medical Cannabis
Namaste Sees Import Benefits from Cannbit Ltd as Israeli Parliament Approves Export of Med...
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[{"type":"text","content":"\n\n\n\nNamaste Sees Import Benefits from Cannbit Ltd as Israeli Parliament Approves Export of Medical Cannabis\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Jan. 28, 2019\n\n\n\nNamaste expects to add Israeli Licensed Producer's Cannabis to Cannmart.com\n VANCOUVER, Jan. 28, 2019 /CNW/ - Namaste Technologies Inc. (\"Namaste\" or the \"Company\") (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) is pleased to report a critical step in the export of medicinal cannabis from Israel and its significance to the Company and its Israeli partner, Cannbit Ltd., (\"Cannbit\")(TASE:CPHO.M). The Israeli government has approved the export of medical cannabis, a significant milestone for the Company and its Israeli partner, Cannbit, as a late-stage applicant, GMP-certified producer of medical cannabis which is publicly listed on the Tel Aviv Stock Exchange. The Company owns 10% of Cannbit, has a collaboration and supply agreement to purchase medical cannabis, and a Collaboration Agreement whereby Cannbit consults with the Company in relation to Namaste's Israeli operations. For Namaste, the Company intends on facilitating the import of medical cannabis from the Israeli market to Canada and other jurisdictions, subject to regulatory approvals as required, and adding Cannbit's cannabis to Cannmart's product line later this year. \n\n \n \n\n \n\"This is an important milestone for our Israeli partners, Cannbit, and our Cannmart customers,\" said Sean Dollinger, Co-Founder, President and CEO of Namaste Technologies. \"Our goal is to import medical cannabis from the Israeli market and offer it to Canadian patients. Furthermore, this approval opens the door for Namaste to potentially import product into other key markets.\"\n\"The government approval for the export of medicinal cannabis should have a material impact on our business and help us with global expansion,\" added Yaron Razon, President and CEO of Cannbit. \"We will be producing flower and cannabis oil in-house and anticipate that the first exports will be seen towards th...