Namaste (CSE:N) (FRA:M5BQ) (OTCMKTS:NXTTF) Announces LOI With Ample Organics to Integrate and Sell Vaporizer Hardware Through Their E-Commerce Platform
VANCOUVER, British Columbia - March 8, 2018 (Investorideas.com 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.
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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 patients 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.
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,
Chief Executive Officer
Direct: +1 (786) 389 9771
Further information on Namaste and its products can be accessed through the links below:
For more information about Ample Organics, please visit ampleorganics.com or contact:
VP, Corporate Development
Direct: +1 (416) 262-4175
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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