VANCOUVER, Sept. 6, 2018 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV: N)(FRA: M5BQ)(OTCMKTS: NXTTF) is pleased to announce that the Company has signed an exclusive co-supply, marketing, and distribution agreement (the "Agreement") with Airo Brands Inc. ("Airo Brands" or "airo-vapor.com") to launch Airo Brands' pre-filled vaporizer cartridge brand in both the recreational and medical cannabis markets throughout Canada. As part of the arrangement, Namaste will produce and distribute Airo Brand's pre-filled vaporizer cartridges through the Company's wholly-owned subsidiary and Health Canada's Access to Cannabis for Medical Purposes Regulations ("ACMPR") Licensed Producer, Cannmart Inc. ("Cannmart").
This Agreement represents a strategic partnership between Namaste and Airo Brands to leverage Namaste's resources and Airo Brands established product, brand image and reputation. Through Infinite Labz, Namaste believes it has the capacity to become the "go to" service provider in this high growth, high margin market of pre-filled cartridges. Namaste's investment in Infinite Labz Inc. ("Infinite Labz"), which is a purpose-built facility for producing cannabis oil under the ACMPR regulations is located directly across the street from Cannmart. Infinite Labz will provide oil production services that will provide supply for Airo Brands' and other products which Namaste will bring to the online medical and recreational markets. To be partnering with one of the leading US-based producer of pre-filled vaporizers further validates Namaste's strategy and is a monumental step forward for the Company. Namaste plans to work with Airo Brands to exclusively source the highest quality cannabis oil and to facilitate production, packaging and distribution through Cannmart.
With the impending roll-out of recreational cannabis in Canada, the Company believes that over time the commoditization of cannabis will require companies to become more innovative in branding and marketing to differentiate themselves. Namaste is uniquely positioned with its Cannmart sales license to facilitate the production of unique, value-added products including Airo Brands vaporizer cartridges and pens, as well as other well-known brands like Lowell Smokes, California's leading pre-rolled brand, who Namaste has also partnered with to expand into the Canadian market. Namaste will continue to pursue strategic partnerships where the Company can leverage their e-commerce and technology platform to provide value to brands like Airo Brands.
Airo Brands is dedicated to perfecting the union between technology and personal vaporizers. Airo Brands is one of the fastest growing brands in the US with products sold in five states and in 800 physical locations. The market for pre-filled vaporizers has expanded rapidly in the US, and while Canadian's anticipate expansion of the legal medical and recreational cannabis platforms to include a wider offering of product categories, Namaste has positioned itself to leverage its ACMPR license, technology and background in the vaporizer industry to bring Airo Brands' products into the Canadian marketplace
As Namaste's strategy to become Canada's leading online retailer of all things cannabis unfolds, the Company is focused on providing consumers with the best possible choices of cannabis products available on the market. Cannmart's platform, which has been designed as a comprehensive cannabis marketplace, will offer patients the largest and most diverse offering of products including cannabis flower, oil, vaporizer pens and pre-filled cartridges along with pre-rolls and many other products as they become available in the medical and recreational markets.
With each new agreement that Namaste signs, the strength of its platform and marketplace become clearer. The Company has secured many supply agreements and strategic partnerships, like that with Airo Brands, to provide consumers with the best user experience possible. The Company has incorporated its innovative technology platforms including on-site AI and telemedicine through the Company's revolutionary app, NamasteMD ("NamasteMD.com") into its user experience. Namaste will expand internationally in markets where the Company maintains a database of over 1.5 million customers to incorporate cannabis sales into its ecommerce platform.
Richard Yost, Founder and CEO of Airo Brands comments: "Airo is excited to have entered into an agreement with Namaste ahead of Canada's legalization effort. While Canada's market does not yet allow for vapor, we felt that Namaste's approach to e-commerce and retail distribution coupled with their understanding of the vapor market globally made them a unique strategic partner. In addition, Namaste's approach and relationships with various producers in Canada further expands our ability to collaborate on our vapor platform enabling us and Namaste to offer a wide variety of choice to the end user.
Sean Dollinger, President and CEO of Namaste Technologies comments; "We're pleased to announce our partnership with Airo Brands who is a leader in the pre-filled vaporizer industry in the US and looking to enter into the Canadian market. It is extremely exciting to see top US based companies like Airo Brands and Lowell Brands recognize Namaste as a leader in the space as they look to penetrate the Canadian market. Cannmart's license provides a strategic advantage for our partners whereby the Company can source various types of cannabis flower and oil from multiple vendors to produce added-value products that will be sold through our medical and recreational sales channels.
As we look forward to upcoming legalization and in anticipation of our sales license, we are more focused now than ever before on securing cannabis supply agreements and strategic partnerships with well-known brands like Airo Brands, and in offering value to our partners and our patients. By bringing innovative products into our platform, we will achieve our goal of creating the most unique and personalize user experience that will offer all things cannabis, from vaporizers and accessories through to cannabis and innovative devices in a single location."
About Airo Brands.
Airo Brands, Inc is a US based company with a focus on innovation and distribution in the inhalation segment of the cannabis industry. The company currently operates in Colorado, Washington, Oregon, California and Nevada providing best in class technology with a wide variety of SKUs through its Airo Pro platform.
For more information on Airo Brands please visit Airobrands.com
About Namaste Technologies Inc.
Namaste Technologies is Your Everything Cannabis Store™. Namaste operates the largest global cannabis e-commerce platform with over 30 websites in 20+ countries under various brands. Namaste's product offering through its subsidiaries includes vaporizers, glassware, accessories, CBD products, and the company will soon be selling medical cannabis in the Canadian market, subject to approval by Health Canada.
Namaste has developed and acquired innovative technology platforms including NamasteMD.com, Canada's first Health Canada compliant telemedicine application, and in May 2018 the Company acquired a leading e-commerce AI and Machine Learning Company, Findify AB. Findify uses artificial intelligence algorithms to optimize and personalize a consumer's on-site buying experience. Namaste is focused on leveraging its cutting-edge technology to enhance the user experience throughout its platforms. Namaste will continue to develop and acquire innovative technologies which will provide value to the Company and to its shareholders as well as to the broader cannabis market.
For more information on Namaste Technologies please visit
On behalf of the Board of Directors
Chief Executive Officer
Direct: +1 604-355-6100
Email: [email protected]
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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. Neither the TSX Venture Exchange nor its market regulator has reviewed or approved the contents of this press release.
SOURCE Namaste Technologies Inc.