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    LFST   CA53228D1069

LIFEIST WELLNESS INC.

(LFST)
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Namaste Technologies : Continues Evolution to Wellness and Confirms Corporate Name Change to Lifeist Wellness Inc.

09/09/2021 | 08:02am EDT
  • Lifeist Wellness Inc. Expected to Commence Trading on the TSX Venture Exchange Under the Ticker Symbol “LFST” on or About September 15, 2021
  • UK Product Offering Expands to include Hemp Derived CBD Products

TORONTO, Sept. 09, 2021 (GLOBE NEWSWIRE) -- Namaste Technologies Inc. (“Lifeist” or the “Company”) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) leverages advancements in science and technology to enable you to find your path to wellness, is pleased to announce a corporate update including that the board has approved a name change from Namaste Technologies Inc. Trading of the Company’s common shares under its updated ticker symbol (“LFST”) is expected to commence on the TSX Venture Exchange (the “TSXV”), at market opening on or about September 15, 2021.

“Lifeist seeks to be a bold and disruptive wellness company, striving to connect humanity with safe, innovative and often daring pathways to individual definitions of wellness,” said Meni Morim, CEO of Lifeist. “The Lifeist rebrand speaks to ‘Higher Living’, resonating with a multi-billion dollar global market of consumers seeking to unlock their extraordinary. It’s an exciting time for the Company and its continued evolution to wellness as we look forward to complimenting the Company’s current portfolio of wellness of cannabis, hemp derived CBD and accessories, by delivering on our promise to establish a nutraceuticals division by the end of Q4, 2021.”

Visit the Company’s new website to learn more about Lifeist: https://lifeist.com.

Hemp derived CBD in the UK at Everyonedoes.co.uk
Within the Lifeist portfolio of wellness interests lies the UK wellness website everyonedoesit.co.uk. Lifeist is pleased to announce expansion of its product offering to include hemp derived CBD products. Lifeist seeks to tap into the second largest global market for hemp-derived CBD estimated to generate £700 million in annual sales for 2021 according to the Association for the Cannabinoid Industry and Centre for Medicinal Cannabis.

About Lifeist Wellness Inc.

Lifeist (previously Namaste Technologies Inc.) is at the forefront of the post-pandemic wellness revolution, a portfolio wellness company leveraging advancements in science and technology to enable you to find your path to wellness. Portfolio business interests include: CannMart.com that provides Canadian customers with a diverse selection of cannabis products and accessories, and its U.S. customers with hemp-derived CBD and smoking accessories; CannMart’s Canadian recreational cannabis distribution business facilitating sales to a number of provincial government control boards; and CannMart Labs Inc., a state-of-the-art BHO extraction facility set to produce higher margin cannabis concentrate products. The Company is also set to launch a new nutraceuticals division in Q4 2021 with disruptive products in wellness.

Find us at:

www.lifeist.com

Cannmart.com

everyonedoesit.co.uk

For more information please contact:
Lifeist Wellness Inc.
Meni Morim, CEO
Edward Miller, VP Investor Relations
Ph: 647-362-0390
Email: ir@lifeist.com

Source: Lifeist Wellness Inc.

FORWARD-LOOKING INFORMATION – This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as “may”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen.

The forward-looking information contained herein, including the Company’s continued evolution into a wellness company, the anticipated launch of a nutraceutical division in the fourth quarter of 2021 and the expected date by which the company’s common shares will trade under the Company’s new symbol on the TSXV are only predictions and are made as of the date of this news release. Various assumptions were used in developing the forward-looking information throughout this news release which management believed to be reasonable at the time such statements were made, including expectations that the introduction of new divisions, products and brands will generate additional revenue, management’s perceptions of Lifeist’s standing in the online marketplace for wellness, cannabis and related products and accessories, Lifeist’s beliefs regarding the expected demand for wellness, cannabis and related products and accessories and the expected growth of that market, the Company’s ability to comply with TSXV requirements for its shares to begin trading under the new ticker symbol on the TSXV as anticipated, results of operations, operational matters, historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation: risks relating to the Company’s ability to develop and execute its business strategy as anticipated and in a timely manner and the benefits realizable therefrom, risks specifically related to the Company’s operations, and risks relating to the Company’s ability to successfully operate everywhere in a virtual environment and its ability to meet all applicable requirements for its shares to begin trading under its new symbol on or about September 15, 2021. Additional risk factors can also be found in the Company’s current MD&A and annual information form, both of which have been filed under the Company’s SEDAR profile at www.sedar.com. Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release. 


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Source: Namaste Technologies Inc.

2021 GlobeNewswire, Inc., source Press Releases - Canada

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Financials
Sales 2020 25,1 M 20,4 M 20,4 M
Net income 2020 -26,2 M -21,3 M -21,3 M
Net cash 2020 9,90 M 8,02 M 8,02 M
P/E ratio 2020 -2,90x
Yield 2020 -
Capitalization 44,3 M 35,9 M 35,9 M
EV / Sales 2019 4,38x
EV / Sales 2020 2,64x
Nbr of Employees 21
Free-Float 99,0%
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Consensus
Mean consensus -
Number of Analysts 0
Last Close Price 0,11 
Average target price
Spread / Average Target -
Managers and Directors
Meni Morim Chief Executive Officer & Director
Slava Klems Chief Financial Officer
Branden Spikes Chairman
Chad Agate Chief Technology Officer
Faraaz Jamal Chief Operating Officer
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