NAMASTE TECHNOLOGIES INC.
CANADIAN SECURITIES CLASS ACTION
SETTLEMENT APPROVAL

Claim Form must be submitted electronically in the on-line claims administration portal at https://www.namastesecuritiesclassaction.ca/portal

Claims Bar Deadline is July 17, 2020 at 11:59 PM

This claims administration website was updated on March 19, 2020 - COVID-19 UPDATE

Dear Class Member,

Based on today’s announcements by local, provincial and federal governments, we have decided it’s best for staff to work from home for the foreseeing future. We continue to return emails and phone calls. Please be patient as we will respond as quickly as possible.

However, we are still accepting and processing Claim Forms in the online claims administration portal.

At this point and time, there is no change to the claims administration nor to the Claims Bar Deadline of July 17, 2020.

Please continue to monitor this website for updates and/or log into the online claims administration portal in regards to the status of your individual Claim.

At this point and time, I wish all Class Members and their family good health and all the best during this uncertainty period.

Please take care of yourself and others,

Paul Battaglia,
President,
Trilogy Class Action Services

NAMASTE TECHNOLOGIES INC.
CANADIAN SECURITIES CLASS ACTION
SETTLEMENT APPROVAL

Ronald Tarrant
(Plaintiff)

- and -

Namaste Technologies, Inc.,
Sean Dollinger and Philip Van Den Berg,
(Defendants)

Proceeding under the Class Proceedings Act, 1992

Claim Form must be submitted electronically in the on-line claims administration portal at https://www.namastesecuritiesclassaction.ca/portal

Claims Bar Deadline is July 17, 2020 at 11:59 PM

Please note that there is a similar Class Action based in the United States. This designated website and the enclosed claims administration pertains to the Canadian-based class action settlement.

The class action that was brought on behalf of Class Members has been settled. The Settlement has been approved by the Ontario Superior Court of Justice. This designated website provides Class Members with information about how to submit a Claim Form to the Administrator in order to participate in the distribution of the Net Settlement Amount on a pro rata basis.

On October 19, 2018, a proposed class action was commenced on behalf of investors who purchased Namaste securities on the TSX or FSE during the Class Period, against Namaste and its former CEO and CFO in the Ontario Superior Court: Ronald Tarrant v. Namaste Technologies, Inc. et al 18-CV-78184. The Plaintiff in the Action alleged that the Defendants made misrepresentations of material facts relating to Namaste’s business, operations and finances by omitting from core documents, non-core documents and statements, material facts about Namaste’s divestiture of its U.S. operations in December of 2017.

The settlement of the Action, without an admission of liability on the part of the Defendants, was approved by The Honourable Justice Smith on March 2, 2020.

Namaste and its insurers will pay USD $2.15 million, in full and final settlement of all claims against the defendants in the Action. Class Counsel Fees, including out-of-pocket expenses and taxes, were fixed by the Court as a first charge on the Settlement Amount in the amount of twenty-eight (28) percent of USD Ū,150,000.00, plus disbursements, plus taxes. The settlement for the Class, less the Class Counsel Fees and disbursements, administrator’s expenses, and taxes, will be distributed to the Class on a pro rata basis in accordance with the Court-approved Plan of Allocation.

The Settlement Agreement, Plan of Allocation, the Notice, and other related Court documents may be viewed and/or downloaded from the Documents section of this designated website.

The Court appointed Trilogy Class Action Services as the Administrator of the settlement to, among other things:

  1. receive and process Claim Forms;
  2. decide eligibility for compensation; and
  3. distribute the net Settlement Amount to eligible Class Members.