NAMASTE ANNOUNCES LOI WITH AMPLE ORGANICS TO INTEGRATE AND SELL VAPORIZER HARDWARE THROUGH THEIR E-COMMERCE PLATFORM
March 08 2018 - 10:06AM
InvestorsHub NewsWire
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Vancouver, BC -- March 8, 2018 -- InvestorsHub NewsWire --
Namaste Technologies Inc. (“Namaste” or the
“Company”) (CSE: N)
(FRA: M5BQ) (OTCMKTS:
NXTTF) is pleased to announce the signing of a Hardware Supply
Letter of Intent (“LOI”) with Ample Organics Inc.
(“Ample Organics”), whereby
Namaste and Ample Organics will integrate Namaste’s vaporizer and
accessory hardware with Ample Organics’ e-commerce platform. The
intention of the LOI is to allow all of Ample Organics’ customers,
including their extensive client list of ACMPR Licensed Producers
to access Namaste’s full range of high-quality products. This
engagement represents a unique opportunity for both Ample Organics
and Namaste to leverage their technology platforms to provide added
value and a new revenue stream for many of Canada’s largest ACMPR
Licensed Producers.
Ample Organics is Canada’s leading seed-to-sale software
platform. Under the terms of the LOI, Ample Organics and Namaste
will collaborate and aim to provide ACMPR Licensed Producers and
their patient’s seamless access to the widest range of high-quality
vaporizer and accessory hardware in the cannabis industry.
Key Terms of the LOI
- Ample Organics will offer Namaste’s product catalogue of over
5000 vaporizers and similar products to their clients via API
integration.
- Namaste will provide product and warranty claim support for
Ample Organics’ clients.
- Namaste will provide sales and support training to Ample
Organics’ customer service team.
Management Commentary
John X. Prentice, President and CEO of Ample
Organics, comments, “Namaste has established a world leading
portfolio of innovative and novel products. This partnership
represents an incredible opportunity to provide additional value to
our Licensed Producer clients and their patients by integrating
Namaste’s products directly into the e-commerce platform used by
over 200,000 patients across Canada.
Sean Dollinger, President and CEO of Namaste
comments, “We are very pleased to be partnering
with Ample Organics, who we believe is Canada’s largest and most
innovative and trusted seed-to-sale software platform. With access
to 80% of Canada’s medical cannabis patients and the country’s
largest dataset, Ample Organics provides Namaste with an incredible
opportunity to offer our high-quality vaporizers and accessories to
Licensed Producers across the country, and for Ample Organics to
provide even more value for their clients. In addition to
partnering with Ample Organics on this exciting project, we are
also working closely with Ample Organics’ team as it relates to our
late-stage ACMPR medical cannabis “sales-only” license under our
wholly owned subsidiary, Cannmart Inc., and have also identified
additional opportunities for future collaborations that could be
mutually beneficial for both parties. We are very excited to be
working the Ample Organics and look forward to following through on
this LOI with a definitive agreement.”
About Ample Organics
Ample Organics is Canada’s leading cannabis business solution,
adopted by 75% of the nation’s Licensed Producers. To date, the
Ample Organics platform has processed more than 680,000 orders and
12,000,000 grams of cannabis. Ample Organics makes compliance easy
by tracking individual plants, from seed to consumer, and reporting
every detail of the growth, production, and sales processes. With
Ample Organics, data is collected at the most granular levels,
offering insights that can drive business decisions and help to
protect public safety. Beyond seed to sale, Ample Organics’
extended suite of products creates a complete ecosystem for
cannabis businesses. From easy patient registration to
cannabis-exclusive payment solutions, Ample Organics continues to
evolve and release new products to provide reliable and compliant
solutions for the cannabis industry.
About Namaste Technologies Inc.
Namaste is the largest online retailer for medical cannabis
delivery systems globally. Namaste distributes vaporizers and
smoking accessories through 24 e-commerce sites in 20 countries and
with distribution hubs located around the world. Namaste has
majority market share in Europe and Australia, with operations in
the UK, 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 Dollinger”
Chief Executive Officer
Direct: +1 (786) 389 9771
Email: info@namastetechnologies.com
Further information on Namaste and its products can be accessed
through the links below:
namastetechnologies.com
namastevapes.ca
everyonedoesit.ca
namastevaporizers.co.uk
everyonedoesit.co.uk
australianvaporizers.com.au
For more information about Ample Organics, please visit
ampleorganics.com or contact:
Peter Slater
VP, Corporate Development
Direct: +1 (416) 262-4175
Email: Peter@Ampleorganics.com
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
harbour provisions of the Private Securities Litigation Reform Act
of 1995. The Canadian Securities Exchange has neither reviewed nor
approved the contents of this press release
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