VANCOUVER, May 17, 2018 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV: N)(FRA: M5BQ)(OTCMKTS: NXTTF) is pleased to announce that the Company has signed a Supply Agreement (the "Supply Agreement") for the sale and distribution of RX Princeps the medicinal marijuana brand of Tetra Natural Health, a division of Tetra Bio-Pharma ("Tetra Bio-Pharma")(TSXV: TBP)(OTCQB: TBPMF), whereby Namaste will purchase RX Princeps from Tetra Natural Health which will be sold through Namaste's wholly owned subsidiary and Access to Cannabis for Medical Purposes ("ACMPR") medical cannabis "sales-only" facility, Cannmart Inc. ("Cannmart"). In anticipation of receiving Cannmart's sales license, the Company is focused on procuring cannabis from strategic partners to offer through its platform.
Tetra Bio-Pharma is a biopharmaceutical leader in cannabinoid-based drug discovery and development with a clinical program aimed at bringing novel drugs and treatments to patients and their healthcare providers. In anticipation of receiving its sales license, Namaste is now focused on ramping up inventory purchasing of a carefully curated selection of high-quality medical cannabis products that will bring value to its patients.
Rx Princeps™ is a unique blend of 3 strains of medical cannabis. Its production has been standardized in order to ensure a lot-to-lot consistent composition in its active ingredients (THC and CBD).
The Supply agreement further supports Namaste's initiative to provide Cannmart's patients with the highest quality medical cannabis flower and oil available in the Canadian market. The Company will leverage its technology including its recent acquisition of leading AI and machine-learning provider Findify AB Inc. ("Findify") to focus on providing a personalized experience for each patient by using machine-learning algorithms. Patient care, retention and selection are core components of Namaste's strategy to set itself apart in the online retail of medical cannabis. The Company believes that it will develop into Canada's largest platform of medical cannabis patients and in offering an incredible patient experience.
Guy Chamberland , CEO of Tetra Bio-Pharma comments "We are thrilled to have signed this partnership deal with Namaste who operate as an E-Commerce Medicinal Cannabis distributor with 32 sites in 20 countries, providing substantial exposure forTetra Natural Health's RX Princeps brand of medicinal marijuana. We believe this is the making of a solid partnership with Tetra Natural Health's ability to produce a quality product combined with Namaste's far reaching sales and distribution network."
Sean Dollinger , President and CEO of Namaste comments; "We are very proud to be bringing on a strong supply partner like Tetra Bio-Pharma. RX Princeps is a unique pharma-based product that we feel will be very valuable for our patients. We have a unique opportunity to develop an exciting platform that will cater specifically to a patients' needs. We plan on being very selective in choosing which licensed producers that we will work with to ensure that our patients receive nothing but the best quality medical cannabis available. We plan on providing a single source for all things cannabis and Cannmart and NamasteMD are key components of that strategy along with securing the highest quality cannabis for our patients. We'd like to take the opportunity to thank Tetra Bio-Pharma management team for their support and look forward to a growing future together."
About Tetra Bio Pharma
Tetra Bio-Pharma (TSX-V: TBP) (OTCQB: TBPMF) is a biopharmaceutical leader in cannabinoid-based drug discovery and development with a clinical program aimed at bringing novel drugs and treatments to patients and their healthcare providers. The Company has several subsidiaries including Tetra Bio-Pharma engaged in the development of Bio Pharmaceuticals and Tetra Natural Health focused on Natural Health Products that are Cannabis based and contain other medicinal plant based elements.
Tetra Bio-Pharma is focused on combining the traditional methods of medicinal cannabis use with the supporting scientific validation and safety data required for inclusion into the existing Bio-Pharma industry by regulators, physicians and insurance companies.
About Namaste Technologies Inc.
Namaste Technologies is a global leader in the sale of medical cannabis consumption devices. Namaste has nine offices with multiple distribution centers around the globe and operates over 30 websites under various brands. Namaste has developed innovative technology platforms including NamasteMD.com, Canada's first ACMPR compliant telemedicine application. The company is focused on patient acquisition through NamasteMD and intends on building Canada's largest database of medical cannabis patients. The company's subsidiary, CannMart Inc. is an ACMPR Licensed Producer with a "sales-only" license, whereby the company will offer a large variety of medical cannabis sourced from domestic and international producers. 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.
On behalf of the Board of Directors
Chief Executive Officer
Direct: +1 (786) 389 9771
Further information on the Company and its products can be accessed through the links below:
More information at: www.tetrabiopharma.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 harbor provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press
SOURCE Namaste Technologies Inc.
For further information: Tetra Bio-Pharma Inc., Robert (Bob) Béchard, Vice President, Finance & Business Development, firstname.lastname@example.org, (514) 817-2514