Namaste Announces Product Acquisition Agreement With Aphria Inc.
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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.
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
Chief Executive Officer
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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.