Capital Ideas Media publisher Mark Bunting examines the growth potential and trends in the global cannabis sector using some great charts and stats.
Mark speaks to Namaste Technologies co-founder and CEO, Sean Dollinger, about how the company plans to capitalize on its world-leading position as the number one seller of vaporizers. The stock has surged lately but is still undervalued.
What do you do if you’re a budding awards show trying to create a buzz around Canada’s $8.7-billion cannabis market?
First you weed out the best producers from the very large crop of products out there. Then you book a swanky joint and roll out the red carpet for business types looking to get in on the potential pot of gold surrounding legalization next summer.
The CEO of Lift Co., the online marketplace for the medical marijuana industry that is holding the event, says it was high time for a grass gala to highlight the fourth annual Canadian Cannabis Awards – previously held only online – in an effort to add some legitimacy to the often stigmatized cannabis community.
“It’s really going to be a mini Oscars†of pot, said Matei Olaru of the awards show being held Thursday night at the historic Carlu at College Park.
You know marijuana is going mainstream when the list of attendees who reserved tables reads like a who’s who of Canada’s haze of law and accounting firms, including Torys LLP, Dentons, Cassels Brock & Blackwell LLP, Bennett Jones LLP, investment dealer Eight Capital and accounting giants KPMG and MNP.
“These are recognizable names excited to be associated publicly with the industry,†said Olaru.
“The industry has matured enough and there are enough players, so it’s the right time for this,†he added.
In fact they will hand out a whopping 75 awards to producers and numerous other players in the marijuana business during an evening of cocktails and plenty of munchies over a sit-down dinner. The laughs will officially be provided by famed comedian twins The Lucas Brothers of 22 Jump Street and Netflix fame, who will be performing standup before the after party.
Categories range from the traditional — employer of the year, startup of the year, innovator of the year, deal of the year and even lifetime achievement award — to the offbeat, including the best in show of vape lounges, cannabis chefs, desktop and portable vaporizers, top testing lab and best home growing box.
“It’s a way to showcase those achievements,†said Olaru, whose mission is to demystify the continued confusion around the medical marijuana market as it grows like a weed.
For instance pot smoking rapper Snoop Dogg recently partnered with Canadian licensed producer Tweed, which is nominated in multiple categories.
Another sign that legalization is around the corner is Lift landing official support this week from MADD Canada as it develops Canada’s first retail training certification program for frontline staff at cannabis retailers who will have legal storefronts as of July 2018.
“Our experience with alcohol sales has shown that having comprehensive training and responsible service guidelines for front-line staff is crucial to reducing alcohol-related harms, including impaired driving,†says MADD Canada chief executive officer Andrew Murie.
“The same will be true of cannabis retail sales. MADD Canada is pleased to partner with a leader like Lift and support this program, which will ensure that all those involved in the retail sales of cannabis are well-trained about the products, about safe usage guidelines and about social responsibility principles,†he said in a release.
Source: https://www.thestar.com/business/2017/11/29/canadian-marijuana-awards-show-lights-up-with-first-ever-gala.html
Namaste released news yesterday morning that it was divesting of its’ US operations. The move would clear hurdles around major partnerships, financing and uplisting created by the political uncertainty surrounding the legalization of cannabis in the US. Following the company’s conference call this morning, AGORACOM sat down with CEO Sean Dollinger to discuss the major advantages and opportunities that would arise as a result of divesting US operations, including:
We then switched our focus to current operations and upcoming events, including:
VANCOUVER, British Columbia, Nov. 28, 2017 – Namaste Technologies Inc. (“Namaste†or the “Companyâ€) (CSE:N) (OTCQB:NXTTF) (FRANKFURT:M5BQ) is pleased to announce that it has signed a stock purchase agreement (the “Agreementâ€) with ESC Hughes Holdings Limited (“ESCâ€) to sell the Company’s wholly owned US subsidiary, Dollinger Enterprises US Inc. (“Dollinger USâ€). The Agreement includes the sale of the domain names Everyonedoesit.com and NamasteVapes.com which combined represent less than 7% of Namaste’s current gross revenue, both of which are currently operating at a net loss. Due to the political uncertainty surrounding the legalization of cannabis in the US, Namaste’s management has deemed it appropriate to shift its focus to legal cannabis markets and management believes that the Company will be better aligned with its long-term interests by divesting its US operations. Management also feels it is prudent to divest these assets in preparation for the legalization of both medical and recreational marijuana in Canada. This decision better aligns Namaste with many of its Canadian counterparts and will enable the Company to capitalize on more accretive opportunities moving forward.
Under the terms of the Agreement, Namaste will, through its wholly owned subsidiary, Namaste Technologies Holdings Inc., in consideration of a cash purchase price of US $400,000, convey to ESC the following:
Payment of US $100,000 will be received on closing, with the balance of the purchase price being paid at a monthly rate of US $25,000 until paid in full, with payments commencing on January 1, 2018. Closing is expected to occur on or about December 4, 2017.
Although many US states have established some form of medical and/or recreational cannabis legalization, the US federal government remains firm on its position regarding cannabis prohibition. Namaste feels this uncertainty may pose challenges in both the short and medium term and restrict growth opportunities in more progressive markets. Under the terms of this Agreement, Namaste will retain all of its existing database of over 520,000 US consumers, and intends on leveraging that data once US federal legalization is in place.
Namaste believes that Canada is at the forefront of the industry for cannabis legalization and intends to leverage its expertise to become the country’s leading online retailer for medical cannabis. By divesting itself of its US assets and operations, Namaste intends to reposition its focus in an attempt to fuel efficiency and growth. Through its wholly owned subsidiary, Cannmart Inc. (“CannMartâ€), Namaste is near approval for a license and plans to distribute medical cannabis through its online telemedicine app known as NamasteMD. Once approval is received, Namaste, through CannMart, will be able to leverage all of its e-commerce expertise, resources, and technology to become Canada’s leading e-commerce platform for medical cannabis sales. Namaste’s management team intends to pursue similar opportunities in distribution of legal cannabis in other markets where the Company has already established strong market share such as Australia and various countries in the EU.
Conference Call
Namaste will be holding a conference call at 8:30 a.m. on Wednesday, November 29, 2017 to discuss and answer questions regarding the above news. The call will be led by Namaste’s CEO, Sean Dollinger. In order to join the conference call, participants may dial the toll-free number below with the accompanying Event Passcode:
Participant Event Plus Toll Free Dial-In Number: (844) 862-1432
Participant Event Plus Toll Dial-In Number: (702) 495-1535
Event Passcode: 3396668
Management Commentary
Sean Dollinger, President and CEO of Namaste comments: “In light of recent trends, Namaste is extremely excited at the potential for additional growth opportunities in more progressive markets. As a result of this divestiture, Namaste believes it has set the stage to fully exploit any and all opportunities that present themselves within legalized marijuana markets globally. Our decision to divest these US assets is strategic in nature and sets the stage for greater expansion of our e-commerce platform. Namaste believes its future success will be achieved through organic growth, in addition to forming strategic alliances. We also believe this divestiture will lead the Company to profitability in a much shorter time-frame.â€
About Namaste Technologies Inc.
Namaste is the largest online retailer for medical cannabis delivery systems globally. Namaste distributes vaporizers and smoking accessories through e-commerce sites in 26 countries and with 5 distribution hubs located around the world. Namaste has majority market share in Europe and Australia, with operations in the UK, US, Canada and Germany and has opened new supply channels into emerging markets including Brazil, Mexico and Chile. Namaste, through its acquisition of Cannmart Inc., a Canadian based late-stage applicant for a medical cannabis distribution license (under the Access to Cannabis for Medical Purposes Regulations Program) is pursuing a new revenue vertical in online sales of medical cannabis in the Canadian market. Namaste intends to leverage its existing database of Canadian medical cannabis consumers, along with its expertise in e-commerce to create an online marketplace for medical cannabis patients, offering a larger variety of product and a better user experience.
On behalf of the Board of Directors
“Sean Dollingerâ€
Chief Executive Officer
Direct: +1 (786) 389 9771
Email: [email protected]
Further information on the Company and its products can be accessed through the links below:
www.namastetechnologies.com
www.namastevaporizers.com
www.namastevaporizers.co.uk
www.everyonedoesit.com
www.everyonedoesit.co.uk
FORWARD LOOKING INFORMATION This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, Namaste assumes no responsibility to update or revise forward looking information to reflect new events or circumstances unless required by law. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com. This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press release.
Canopy Growth Corporation (NASDAQOTH:TWMJF) scored what was probably the most highly publicized deal with large beverage company Constellation Brands (NYSE:STZ) buying a 9.9% stake in the Canadian marijuana grower for $245 million. But Canopy has also forged other agreements with smaller companies both before and after the Constellation partnership.
More recently, Aurora Cannabis (NASDAQOTH:ACBFF) launched a takeover bid for CanniMed Therapeutics. Aurora had wanted CanniMed’s board of directors to agree to an acquisition proposal made last week. When the board failed to respond, Aurora moved forward with its unsolicited takeover attempt.
Major deal-making in the cannabis industry is hitting an all-time high. Here are three ways it impacts not just the parties involved but marijuana stocks in general.
Image source: Getty Images.
While it’s true that more people have accepted legalization of both medical and recreational marijuana than ever before, the cannabis industry hasn’t entirely been viewed as part of the mainstream economy in the past. I think Constellation Brands’ partnership with and investment in Canopy Growth changes that significantly.
Constellation Brands isn’t a small fish in the pond. The company is a member of the S&P 500 and has a market cap of $43 billion. Its decision to partner with Canopy Growth amounted to an endorsement of the cannabis industry — at least in Canada. However, Constellation’s move could also lead to greater acceptance of the cannabis industry in the U.S.
The company’s CEO, Rob Sands, said in an interview with The Wall Street Journal, that Constellation thinks that legalization of recreational marijuana in the U.S. is “highly likely, given what’s happened at the state level.” Although Constellation Brands is echoing the stance taken by Canopy Growth of only selling marijuana in markets where it’s legal at a federal level, the prospects of future legalization throughout the U.S. can only be helped by a major company like Constellation making a big investment in a marijuana grower.
There have been plenty of deals that haven’t received quite as much attention as Constellation’s investment in Canopy Growth and Aurora Cannabis’ takeover attempt of CanniMed. For example, Canopy Growth recently acquired small Canadian medical marijuana grower TerrAscend. Earlier this month, Aurora increased its stake in Hempco Food and Fiber to more than 50%.
Image source: Getty Images.
There’s something of a “me, too” factor when mergers and acquisitions activity picks up. Companies that haven’t been making big deals can be spurred to action in fear of missing out.
Canopy Growth is currently the biggest marijuana grower in Canada. I have no doubt that its size made a difference in Constellation Brands choosing Canopy Growth as a partner. But Aurora Cannabis could become the largest marijuana grower (at least in terms of market cap) if its attempt to buy CanniMed is successful.
Just imagine what’s going through the minds of the executives running other major marijuana growers in Canada. If you’re the CEO of MedReleaf (NASDAQOTH:MEDFF) or Aphria (NASDAQOTH:APHQF), you have to at least be thinking about making some deals of your own.
In fact, MedReleaf recently announced a stock offering that will generate $100.5 million. What will this money be used for? The company intends “to finance the acquisition and/or construction of additional cannabis production and manufacturing facilities in Canada as well as in other jurisdictions with federal legal cannabis markets.” In other words, expect an acceleration of deal-making in the cannabis industry.
My view is that deal-making in any industry attracts more investors to stocks in that industry. I see it happen frequently in the bopharmaceutical world, where the possibility of mergers and buyouts tends to bring some individual investors off the sidelines. I suspect that’s what is happening already and will only pick up in the months ahead.
There are several factors that could contribute to this. Size matters for many investors who are leery of putting their money into companies that are small. Deals also make headlines, and therefore bring the involved stocks to the attention of more investors.
Another key reason why I suspect the recent deals for marijuana stocks could attract more investors is the bandwagon effect. That’s especially applicable with Constellation Brands’ investment in Canopy Growth. Some individual investors are likely to think, “If a big company like Constellation thinks it’s a good investment, it probably is a good investment.” I’m not saying that line of thinking is necessarily correct, but I’d bet plenty of people have similar thoughts.
So what does all of this mean for marijuana stocks in general? It should be good news.
Smaller companies could find themselves takeover targets of somewhat larger companies, just like the situation with CanniMed and Aurora Cannabis. Relatively larger companies like Aurora, Aphria, and MedReleaf could attract the attention of other alcoholic beverage makers not wanting to be left behind by Constellation Brands in a potential cannabis-infused beer market.
I think these and other Canadian marijuana stocks should go higher in the coming months. This won’t be driven entirely by mergers and acquisitions, though. Legalization of recreational marijuana in Canada in 2018 will be the biggest catalyst.
At the same time, investors shouldn’t throw out all the traditional rules of investing in stocks. Look at the underlying businesses, growth prospects, and valuations before investing in any stock. After all, the most important deal is the one that requires you to put your own hard-earned money at stake.
Tom Gardner: Forget Aurora Cannabis Inc.! This buying opportunity is bigger than I ever imagined…
A few months ago, Motley Fool CEO Tom Gardner recently discovered what he considers the greatest buying opportunity he’s seen in more than a decade… within a group of stocks no one is talking about. On Monday, November 27, at 9:30 A.M. ET, Tom is making an important announcement where he will discuss this buying opportunity and how it potentially impacts any investor in the market today. To learn how to access Tom’s timely update, click the button below.
Source: https://www.fool.com/investing/2017/11/27/deal-making-in-the-cannabis-industry-hits-an-all-t.aspx
VANCOUVER, Nov. 27, 2017 – Aurora Cannabis Inc. (the “Company” or “Aurora”) (TSX: ACB) (OTCQX: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) and Namaste Technologies Inc. (“Namaste”) (CSE: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) are pleased to announce that Aurora’s wholly owned subsidiary BC Northern Lights (“BCNL”) and Namaste Technologies have signed a Hardware Supply Agreement (the “Agreement”) whereby Namaste will be the first third-party distributor to sell BCNL’s premium home cultivation systems and accessories through its online technology platform.
Namaste will roll out same-day delivery service of select BCNL products to the Greater Toronto Area (“GTA”), as well as next day delivery in most other parts of Canada, to help meet the growth in demand for home gardening systems anticipated with the passing of the federal Cannabis Act (the “Act”) to legalize adult consumer use, as well as continued rapid growth of the medical cannabis market.
Legislation announced by the Ontario Government foresees a provincial monopoly on cannabis sales upon introduction of adult consumer use, with only a limited number of stores servicing Canada’s most populous province. As the Act does allow for up to four cannabis plants per household, it is anticipated that home gardening will become an increasing segment of the market. This creates an opportunity that BCNL, with its gold standard products and strong brand recognition, is exceptionally well positioned to capitalize on.
The Agreement is expected to accelerate BCNL product sales and create a new revenue channel for Namaste by leveraging its existing traffic, distribution network, and e-commerce platform, and is aligned with Namaste’s intention to offer the most extensive range of high-quality ancillary products in the cannabis industry. The distributorship of BCNL products follows on an earlier agreement between the two companies, as announced on September 28, 2017, through which Aurora, through its website, is offering a specially curated selection of industry-leading, Namaste-sourced vaporizers to its registered patient base, utilizing Namaste’s technology platform and delivery infrastructure.
Management Commentary
“Aurora and our growing constellation of top-notch subsidiaries have become partners of choice in this sector, at home and around the world, and that’s extremely gratifying,” said Terry Booth, Aurora’s CEO. “It speaks to the power of the Aurora Standard in terms of product quality and customer care, to the trust we inspire in our partners, and to our ability to execute fast and well. We love bringing great companies together, and we’re delighted that Namaste is now helping us bring BCNL’s excellent, efficient and elegant cultivation products to an even broader audience of customers.”
Sean Dollinger, President and CEO of Namaste said, “We are very proud to have signed this Agreement with BCNL and to bring value to our relationship with Canada’s most dynamic licensed producer. We greatly value our relationship with Aurora. Namaste sees large growth potential in home-based indoor cultivation industry and has high expectations for sales through this new channel. This Agreement further exemplifies Namaste’s role as the industry’s leading e-commerce retailer in offering the most innovative products along with partners like Aurora. The ancillary market, in our experience, is ideal for e-commerce penetration and offers very substantial expansion opportunities, and we would like to thank both the Aurora and BCNL management teams for this amazing opportunity.”
About BC Northern Lights
Founded in 2001 and with over 10,000 units sold, BCNL is a leader in developing, manufacturing and marketing self-contained indoor hydroponic grow systems. BCNL’s offerings include grow boxes and cultivation consumables such as lights, carbon filters, grow medium and specialized nutrients, as well as seven days per week support for its customers. The nature of BCNL’s systems enables year-long, consistently high yields of cannabis within a safe, efficient, and discrete environment. BCNL’s multi-award winning systems provide for discreet and odorless operations. Professionally engineered, BCNL’s products provide the highest level of safety, addressing one of the key concerns neighbours living in the vicinity of home growers may have, particularly in multi-dwelling settings. www.bcnorthernlights.com
About Aurora
Aurora’s wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada’s Access to Cannabis for Medical Purposes Regulations (“ACMPR”). The Company operates a 55,200 square foot, state-of-the-art production facility in Mountain View County, Alberta, known as “Aurora Mountain”, a second 40,000 square foot high-technology production facility known as “Aurora Vie” in Pointe-Claire, Quebec on Montreal’s West Island, and is currently constructing an 800,000 square foot production facility, known as “Aurora Sky”, at the Edmonton International Airport, as well as is completing a fourth facility in Lachute, Quebec through its wholly owned subsidiary Aurora Larssen Projects Ltd.
In addition, the Company holds approximately 9.6% of the issued shares (12.9% on a fully-diluted basis) in leading extraction technology company Radient Technologies Inc., based in Edmonton, and is in the process of completing an investment in Edmonton-based Hempco Food and Fiber for an ownership stake of up to 50.1%. Furthermore, Aurora is the cornerstone investor with a 19.9% stake in Cann Group Limited, the first Australian company licensed to conduct research on and cultivate medical cannabis. Aurora also owns Pedanios, a leading wholesale importer, exporter, and distributor of medical cannabis in the European Union, based in Germany. The Company offers further differentiation through its acquisition of BC Northern Lights Ltd. and Urban Cultivator Inc., industry leaders, respectively, in the production and sale of proprietary systems for the safe, efficient and high-yield indoor cultivation of cannabis, and in state-of-the-art indoor gardening appliances for the cultivation of organic microgreens, vegetables and herbs in home and professional kitchens. Aurora’s common shares trade on the TSX under the symbol “ACB”.
About Namaste Technologies Inc.
Namaste is the largest online retailer for medical cannabis delivery systems globally. Namaste distributes vaporizers and smoking accessories through e-commerce sites in 26 countries and with 5 distribution hubs located around the world. Namaste has majority market share in Europe and Australia, with operations in the UK, US, Canada and Germany and has opened new supply channels into emerging markets including Brazil, Mexico and Chile. Namaste, through its acquisition of Cannmart Inc., a Canadian based late-stage applicant for a medical cannabis distribution license (under the ACMPR Program) is pursuing a new revenue vertical in online retail of medical cannabis in the Canadian market. Namaste intends to leverage its existing database of Canadian medical cannabis consumers, along with its expertise in e-commerce to create an online marketplace for medical cannabis patients, offering a larger variety of product and a better user experience.
On behalf of the Board of Directors
Terry Booth,
Sean Dollinger
Chief Executive Officer
Chief Executive Officer
This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Aurora and Namaste are under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither TSX, nor CSE, nor their Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange and Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release.
TRADING ALERT!!!
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Last: $0.68 Up: $0.15
Percentage: 28% Volume: 11M Shares
VANCOUVER, British Columbia, Nov. 16, 2017 — Namaste Technologies Inc. (“Namaste†or the “Companyâ€) (CSE:N)(FRANKFURT:M5BQ)(OTCMKTS:NXTTF) is pleased to provide an update on progress with its wholly owned subsidiary, Cannmart Inc. (“CannMartâ€). Management is excited to announce that the updated Access to Cannabis for Medical Purposes Regulations (“ACMPRâ€) application has been submitted to Health Canada, the CannMart facility is now under construction and the Company expects a six to eight-week time-frame for completion, pending any delays. Namaste’s design goals for the CannMart facility will facilitate the seamless distribution of a wide variety of medicinal cannabis products, which have been sourced both domestically and internationally. Namaste believes that once construction is complete, this state of the art facility will serve as the backbone in servicing Namaste’s impressive and growing database of Canadian medical cannabis consumers.
Further to Namaste’s press release dated November 14, 2017, the application for NamasteMD, the Company’s innovative telemedicine smart-phone app, has been submitted to both the Apple Store and Google for approval, and will available on both IOS and Android devices once approval is received. Additionally, Namaste is pleased to announce that it has engaged multiple doctors and nurse practitioners who will be trained to provide consultations on the NamasteMD app and issue medical documents to Namaste’s patients. NamasteMD has been designed to provide a simple process for patients to connect with a doctor or nurse practitioner through a virtual consultation from the comfort of their home or office. NamasteMD incorporates proprietary identity and age verification technology that will provide high confidence verification for all patients. Patients who complete their consultation and receive a medical document through NamasteMD may then connect to CannMart’s online portal where they can purchase a wide range of medicinal cannabis products. By utilizing Namaste’s innovative technology of machine-learning algorithms and integrating CannMart on the NamasteMD platform, Namaste strongly believes that it will soon become Canada’s leading online retailer for medicinal cannabis.
Management Commentary
Sean Dollinger, President and CEO of Namaste comments: “These are extremely exciting times for Namaste as we move forward and implement many new and innovative initiatives. We are very excited about the progress of both CannMart and NamasteMD and believe the next few months will be transformational for the Company. I would like to thank all shareholders for their continued support and in helping Namaste reach these important milestones.â€
About Namaste Technologies Inc.
Namaste is the largest online retailer for medical cannabis delivery systems globally. Namaste distributes vaporizers and smoking accessories through e-commerce sites in 26 countries and with 5 distribution hubs located around the world. Namaste has majority market share in Europe and Australia, with operations in the UK, US, Canada and Germany and has opened new supply channels into emerging markets including Brazil, Mexico and Chile. Namaste, through its acquisition of Cannmart Inc., a Canadian based late-stage applicant for a medical cannabis distribution license (under the ACMPR Program) is pursuing a new revenue vertical in online retail of medical cannabis in the Canadian market. Namaste intends to leverage its existing database of Canadian medical cannabis consumers, along with its expertise in e-commerce to create an online marketplace for medical cannabis patients, offering a larger variety of product and a better user experience.
On behalf of the Board of Directors
“Sean Dollingerâ€
Chief Executive Officer
+1 (786) 389 9771
Email: [email protected]
Further information on the Company and its products can be accessed through the links below:
FORWARD LOOKING INFORMATION This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, Namaste assumes no responsibility to update or revise forward looking information to reflect new events or circumstances unless required by law. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com. This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press release.
AGORACOM Founder, George Tsiolis, sat down with Namaste CEO, Sean Dollinger, to produce the most powerful Namaste interview yet. This is a must watch for anyone invested in the Cannabis / Medical Marijuana space. The Topics include:
There is no other way to say it. Namaste Technologies is the e-commerce powerhouse of this industry … and we know what the technology leader can do to non-tech industry encumbents. Think Amazon, Uber, Airbnb and more.
WATCH
VANCOUVER, British Columbia, Nov. 14, 2017 – Namaste Technologies Inc. (“Namaste†or the “Companyâ€) (CSE:N) (FRANKFURT:M5BQ) (OTCMKTS:NXTTF) is pleased to announce that it has acquired the domain and customer database of Brazil’s largest vaporizer retailer, vaptvupt.lojaintegrada.com.br (“VapeBrâ€), in consideration of signing an exclusive services agreement for fulfillment (the “Agreementâ€) for Namaste’s Brazilian operations. The acquisition of VapeBr is accretive in nature and is expected to add over CAD $1M in additional annual revenue to Namaste’s current revenue stream.
Under the terms of the Agreement, Namaste has acquired the VapeBr domain and will therefore inherit all future associated revenue.
VapeBr management has agreed to provide the following under the Agreement:
As a result of this transaction, Namaste plans to greatly expand the VapeBr product offering, as it sees very strong growth potential in the Brazilian market. The acquisition of the VapeBr e-commerce platform is not only expected to have an immediate impact on Namaste’s revenue, but it is also expected to add over 10,000 additional customers to Namaste’s growing global database of medical cannabis users. Through the integration of VapeBr onto Namaste’s proven e-commerce platform, Namaste is confident it can substantially grow this already impressive customer base. This Agreement further validates Namaste’s ability to consolidate industry competitors and expand its operations abroad.
Additionally, Namaste is pleased to announce that the NamasteMD smartphone app has been submitted to the Apple Store, is awaiting approval, and is expected to soon be available on both IOS and Android devices. NamasteMD is a revolutionary telemedicine application which has been designed to connect patients with doctors and nurse practitioners, in an attempt to facilitate a seamless process for obtaining medical documents under Canada’s Access to Cannabis for Medical Purposes Regulations (“ACMPRâ€) program. This state of the art application incorporates facial recognition algorithms, and is the first of its kind to feature exclusive age and identity verification technology. Namaste plans on utilizing this technology on the NamasteMD platform to distribute medicinal cannabis through its wholly owned subsidiary, Cannmart Inc.
Management Commentary
Sean Dollinger, President and CEO of Namaste comments: “I am extremely proud of our team for building an e-commerce platform that is being actively solicited by our direct competitors to work collaboratively. Based on this agreement, we expect further opportunities to present themselves for Namaste to work with companies looking to divest their businesses, and believe such arrangements are a win-win situation for all parties involved. We are extremely excited that our efforts are not only being noticed but rewarded with arrangements as such. Namaste welcomes these opportunities and anticipates these trends to continue as Namaste steals market share on a global scale. This transaction further confirms the value we have created with regards to the products and services we provide, and our ability to leverage our database moving forward.
As our e-commerce platform evolves, we are confident our decision to implement cutting edge age and identity verification technology ahead of our competition will be instrumental in allowing us to become industry leaders. We believe these innovative initiatives not only demonstrate our commitment to the industry, but also provide an ideal solution to ensure the safe and responsible distribution of recreational cannabis on both a provincial and federal level.â€
About Namaste Technologies Inc.
Namaste is the largest online retailer for medical cannabis delivery systems globally. Namaste distributes vaporizers and smoking accessories through e-commerce sites in 26 countries and with 5 distribution hubs located around the world. Namaste has majority market share in Europe and Australia, with operations in the UK, US, Canada and Germany and has opened new supply channels into emerging markets including Brazil, Mexico and Chile. Namaste, through its acquisition of Cannmart Inc., a Canadian based late-stage applicant for a medical cannabis distribution license (under the ACMPR Program) is pursuing a new revenue vertical in online retail of medical cannabis in the Canadian market. Namaste intends to leverage its existing database of Canadian medical cannabis consumers, along with its expertise in e-commerce to create an online marketplace for medical cannabis patients, offering a larger variety of product and a better user experience.
On behalf of the Board of Directors
“Sean Dollingerâ€
Chief Executive Officer
+1 (786) 389 9771
Email: [email protected]
Further information on the Company and its products can be accessed through the links below:
www.namastetechnologies.com
www.namastevaporizers.com
www.namastevaporizers.co.uk
www.everyonedoesit.com
www.everyonedoesit.co.uk
FORWARD LOOKING INFORMATION This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, Namaste assumes no responsibility to update or revise forward looking information to reflect new events or circumstances unless required by law. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com. This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press release.