Namaste Announces Product Acquisition Agreement With Aphria Inc.
September 20 2017 - 10:31AM
InvestorsHub NewsWire
VANCOUVER, British Columbia, Sept. 20, 2017 (GLOBE NEWSWIRE) --
Namaste Technologies Inc. (“Namaste” or the
“Company”) (CSE:N)
(FRANKFURT:M5BQ) (OTCMKTS:NXTTF)
is pleased to announce that it has signed a Product Acquisition
Agreement (the “Agreement”) with Aphria Inc.
(“Aphria”) (TSX:APH) (OTCQB:APHQF),
to supply medical cannabis through Namaste’s Cannmart facility in
Ontario, Canada.
The Agreement represents further progress for Namaste in
securing supply agreements with high quality producers of medical
cannabis. Namaste intends to build on its current product offerings
through its distribution license, by creating an online marketplace
that is inclusive of medical cannabis for our Canadian customers.
Namaste is pleased to have brought on Aphria, one of Canada’s
leading licensed producers focused on production of pharmaceutical
grade medical cannabis products.
About Aphria Inc.
Aphria Inc., one of Canada’s lowest cost producers,
produces, supplies and sells medical cannabis. Located
in Leamington, Ontario, the greenhouse capital of Canada,
Aphria is truly powered by sunlight, allowing for the most natural
growing conditions available. It is committed to providing
pharma-grade medical cannabis, superior patient care while
balancing patient economics and returns to shareholders. It is the
first public licensed producer to report positive cash flow from
operations and the first to report positive earnings in consecutive
quarters.
Management Commentary
Sean Dollinger, President and CEO of Namaste comments: “We are
very pleased to be working with Aphria, who we believe to be one of
the top Canadian producers of the highest quality medical cannabis
products. Our goal is to create an online marketplace for our
patients that will offer a variety of products sourced from various
producers in Canada and overseas. We plan to leverage our existing
database of Canadian consumers along with our expertise in
e-commerce to provide a unique platform for medical patients to
access. We are excited to offer Aphria product to our Cannmart
patients shipped from our facility in Toronto, Ontario.”
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and
accessories space. Namaste has 26 ecommerce retail stores in 20
countries, offers the largest range of brand name vaporizers
products on the market and is actively manufacturing and launching
multiple unique proprietary products for retail and wholesale
distribution. The Company is currently focused on expanding its
product offering, acquisitions and strategic partnerships, and
entering new markets globally.
On behalf of the Board of Directors
“Sean Dollinger”
Chief Executive Officer
Direct: +1 (786) 389 9771
Email: info@namastevapes.com
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.