Vancouver, British Columbia, Canada - Namaste
Technologies Inc. (“Namaste” or the
“Company”) (CSE:N) (FRANKFURT:M5BQ)(OTCMKTS:NXTTF) and Aurora
Cannabis (“Aurora”) (TSX: ACB) (OTCQX: ACBFF) (Frankfurt: 21P;
WKN:
A1C4WM) today announced that the companies have signed an
exclusive hardware supply agreement for the Canadian market.
Pursuant to the agreement, Aurora, through its website and mobile
app, will offer a specially curated selection of industry-leading
vaporizers, which will be sourced from Namaste.
Under the terms of the agreement, Namaste will establish a direct
inventory feed to both Aurora’s online shop and its mobile app,
providing Aurora customers with access to a range of medical grade
vaporizers and other innovative products that are supplied through
Namaste’s platform.
Namaste will be providing these products to Aurora customers via
next day delivery across Canada, and same day delivery to customers
in the Greater Toronto Area, which has a population of nearly 6.5
million people. Namaste will also provide Aurora with back-office
support, including the handling of returns and warranty claims.
“This partnership is great for our clients and for Aurora, as it
significantly broadens our product offering to customers, while
requiring no capital outlay on our part,” said Terry Booth, CEO of
Aurora. “The global cannabis markets are showing increasing
momentum towards smoke-free options, and we are excited to meet
this growing demand by offering a preferred selection of
Namaste-sourced vaporizers that meet the Aurora Standard.
Furthermore, offering a broader selection of high-quality ancillary
products is an important element in our strategy to position Aurora
for the adult consumer market, strengthening our brand in
preparation for legalization in 2018.”
Sean Dollinger, President and CEO of Namaste, said “We believe that
this agreement, the first of its kind for us, will dramatically
increase our market reach in Canada and be accretive in nature. The
Aurora Standard continues to set the benchmark for product quality
and customer service, and Aurora has created one of the strongest
brands in the global cannabis sector. We anticipate generating
further traction for our best-in-class product offering, and we
intend to leverage this model through securing similar agreements
in other countries around the world.”
The global legal marijuana industry is rapidly becoming a
multi-billion-dollar market, and Namaste aims to capture
significant market share in the ancillary hardware segment of the
sector. Through strategic partnerships with leading companies such
as Aurora, Namaste, which year to date has already shipped in
excess of 100,000 units, expects to expand its reach and increase
its market share.
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”, is currently constructing a
second 800,000 square foot production facility, known as “Aurora
Sky”, at the Edmonton International Airport, and has acquired, and
is undertaking completion of a third 40,000 square foot production
facility in Pointe-Claire, Quebec, on Montreal’s West Island.
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. Aurora’s common shares trade on TSX under the symbol
“ACB”.
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.Our mailing address is:
Namaste Technologies Inc.
1600 – 100 King Street West
Toronto, Ontario M5X 1G5
Canada
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