Namaste Technologies Inc. (NXTTF) Closes Acquisition of Leading A.I. and Machine-Learning Technology Platform

Namaste Technologies Inc. (“Namaste” or the “Company“) (TSXV:N.V) (M5BQ.F) (NXTTF) is pleased to announce that the Company has closed its previously announced acquisition of Swedish-based A.I. and machine learning technology platform, Findify AB (“Findify” or “Findify.io”), through the purchase of all of the issued and outstanding shares of Findify, for a purchase price of US $12,000,000 in a combination of cash and common shares of the Company. Findify is a global leader in A.I. powered e-commerce technology, delivering solutions such as personalized search, recommendations, and advanced data analytics. The acquisition of Findify as a technology platform will bring significant value to Namaste and its shareholders by accelerating the Company’s growth strategy, enhancing conversion rates and revenue and in providing an entry into machine-learning and A.I. for applications for cannabis.

Findify’s Platform and Conversion Rate Optimization

Findify’s platform, which is used by leading e-commerce websites, including Namaste, uses proprietary real-time machine learning algorithms to deliver a truly personalized experience to each and every customer. Through robust data collection, the platform analyzes user behavior and in combination with product trends, it automatically and continuously displays relevant products to each customer at any given time. The ability to deliver accurate and relevant products real-time, leads to increases in revenue, conversion rates and average order value.

Namaste will deploy Findify’s full product suite across its platform in order to bring this intelligence across all consumer touch-points. This focus on conversion rate optimization (CRO) using A.I. and machine learning technology will provide Namaste’s customers and patients, with an enhanced user experience while also increasing sales. The Company’s management team anticipates that the integration of Findify’s full-suite of proprietary technology will increase monetization, deliver a better user experience for customers, and propel revenue growth in both cannabis and hardware sales.

Cannabis A.I.

The Namaste and Findify team are pleased to be bringing the power of artificial intelligence to solve the problem of unpredictability in plant medicine. Findify’s technology will help bring clarity to our consumers and patients, who seek a specific cannabis strain in an ocean of variety, misinformation, uncertainty. Recent studies have revealed that the cannabis plant has 144 cannabinoids and over 100 terpenes, each with beneficial properties in unique combinations, affecting individuals in different ways. In addition to having over a thousand strains and over 200 variations of beneficial compounds, humans have different responses to each of these strains, making it an enormous challenge to find the right strain for the right person and their particular needs. Today, we search for that perfect strain by means of trial & error or guesswork. But Findify’s proprietary machine learning technology will allow us to match each unique individual with the relevant cannabis products for them. The Findify acquisition uniquely positions Namaste to develop a cannabis-focused A.I. platform that will provide a deeper understanding of patients needs and behaviours in an effort to provide a more relevant and personalized experience.