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Namaste Technologies fires back at Andrew Left: misleading, defamatory and unfair

Short-seller Andrew Left of Citron Research published a report that claims Namaste Technologies is a fraud

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Sean Dollinger, CEO of Namaste Technologies

Namaste Technologies Inc (CVE:N) fired right back at Andrew Left of Citron Research late Thursday, after the short-seller published a seven-page report earlier that claims the cannabis company is a fraud.

The report suggested that if Vancouver-based Namaste was a US company, its shares would be halted, and its CEO would face charges.

Proactive Investors took an exclusive call with Sean Dollinger, CEO of Namaste earlier this morning, and he was remarkably candid about Andrew Left's accusations and responded to them. 

He did have some words of advice and comment, much of which cannot be repeated here, due to the company's current quiet period. However, the company did put out a statement later in the day. 

READ: Short-seller Andrew Left’s Citron Research doubles down on Namaste Technologies, calls it a 'fraud'

"Further to the article recently published by Citron Research, which made several false and defamatory accusations, we would like to note several key points in relation to the contents of the article. As you are fully aware, the article contains several misleading, defamatory and unfair characterizations of our company."

"The company has disclosed its intention to cross-list its securities on the NASDAQ stock exchange in the US. It has been clear that the company meets many of the requirements to cross-list, but does not meet the required share price threshold. Namaste has engaged with counsel to submit its application to the NASDAQ which is presently in progress and the exchange has already begun to review and provide comments on the application. The company will continue to pursue the cross-listing as intended," the company said in a statement. 

Shares of Namaste were at C$2.22 on Thursday. 

 

Contact Katie Lewis at [email protected]

Follow her on Twitter: @kelewis

Quick facts: Namaste Technologies Inc

Price: 0.43 CAD

TSX-V:N
Market: TSX-V
Market Cap: $139.3 m
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