TORONTO, March 18, 2019 /CNW/ – Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) wishes to announce the appointment of Baker Tilly WM LLP (“Baker Tilly”) as its auditor.
This follows Namaste’s prior announcement on March five, 2019, announcing the resignation of PricewaterhouseCoopers, LLP as its former auditor. The Company’s audit committee and board have authorized the appointment of Baker Tilly powerful March 15, 2019.
Baker Tilly is a complete-service accounting, tax and advisory firm with offices in Vancouver and Toronto. Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and organization advisory firms in 147 territories, with 33,600 specialists.
The filings essential beneath Section four.11(six) of National Instrument 51-102- Continuous Disclosure Obligations will be created publicly obtainable at www.sedar.com.
The Organization confirms that there have been no “reportable events” (as such term is defined in NI 51-102) with respect to the Organization due to the fact the appointment of its former auditor. Namaste also announces that it will not be in a position to file its audited annual monetary statements for the fiscal year ended November 30, 2018 and the associated management’s discussions and evaluation (the “Annual Filings“) by the filing deadline of April 1, 2019, in order to permit enough time for Baker Tilly to total its audit.
Accordingly, the Organization will be creating an application to the applicable regulatory authorities beneath National Policy 12-203 requesting that a management cease trade order (the “MCTO”) be granted in respect of the anticipated late filing of the Annual Filings. If the Organization receives the MCTO, it is anticipated that the common investing public will continue to be capable to trade in the Company’s listed typical shares.
Nonetheless, it is anticipated that for the duration of the MCTO, the Company’s Chief Executive Officer, Chief Economic Officer and such other directors, officers and persons as determined by the applicable regulatory authorities will not be capable to trade the Company’s shares. There is no assure that a MCTO will be granted. If the MCTO is granted, the Organization intends to comply with the provisions of the option data recommendations as set out in National Policy 12-203 – Management Cease Trade Orders for so extended as it remains in default due to the late filing of the Annual Filings, which includes the issuance of bi-weekly default status reports, in the kind of a news release.
The Organization and its management are committed to functioning closely with Baker Tilley to total the year-finish audit as quickly as achievable.
About Namaste Technologies Inc.
Namaste Technologies powers the ultimate on line consumer practical experience for medicinal cannabis and associated merchandise. Starting with NamasteMD.com, the Company’s integrated telemedicine application, we connect health-related clientele with well being care practitioners to extra readily challenge and renew cannabis prescriptions on line. Featuring the 1st Canadian Healthcare Sales-Only Licence, the Company’s personal Cannmart.com is your ‘everything cannabis store’ providing clientele a big range of strains to fill their prescription requires. Namaste’s exceptional artificial intelligence (AI) engine incorporated in its platforms and associated Uppy App, completes our ecosystem by identifying the suitable item and pairing to address precise health-related cannabis specifications. Namaste also offers vaporizers and accessories across quite a few platforms operating in extra than 20 nations. Namaste’s worldwide technologies addresses nearby requires in a burgeoning cannabis business requiring sensible options. For extra data about Namaste, please stop by www.Namastetechnologies.com
Additional data on the Organization and its merchandise can be accessed by means of the hyperlinks beneath: