Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV:N.V) (M5BQ.F) (NXTTF) is pleased to announce that the Company has signed a wholesale supply agreement (the “Supply Agreement”) with Manitoba -based, late-stage ACMPR applicant, Kief Cannabis Company Ltd. (“Kief Cannabis” or “kiefcannabis.ca”). Under the terms of the Supply Agreement, Namaste will purchase bulk cannabis products under the Company’s wholly-owned subsidiary, Cannmart Inc. (“Cannmart”) to offer in its online platform.
Kief Cannabis is focused on developing high-quality artisan-crafted cannabis products with a specific focus on the best plant genetics and a refined production process that is designed to deliver high-grade, small-batch craft product. Kief Cannabis will focus on the high-end recreational market with premium quality cannabis. Through the Supply Agreement with Namaste, Kief Cannabis will position in itself for national exposure by offering its products through Cannmart’s online marketplace and in having their products for sale along with other leading Canadian cultivators who are participating in Namaste’s platform.
With NamasteMD’s (“NamasteMD.com”) patient database growing at an exponential rate, and with Cannmart’s sales license imminent, the Company has successfully secured guaranteed supply through agreements with its cultivation partners. Due to its rapid and accelerating growth rate, NamasteMD’s clinic team has expanded to accommodate the influx of patient consultations. Namaste has already established itself as the largest global online marketplace for cannabis consumption devices and has over 1.5 Million customers globally. The Company has developed and uses industry leading e-commerce technology including on-site AI through its wholly owned subsidiary, Findify AB (“Findify.io”), that personalizes the online user experience for every customer.
Cannmart’s platform, following the same strategy will offer patients access to the largest variety of cannabis products sourced from multiple vendors in a single location. With innovations like NamasteMD, Findify and Cannmart’s online platform, the Company has created a fully-integrated patient experience from prescription to delivery. Cannmart will be one of the first online retailers to offer same-day delivery service through its partner, Pineapple Express Delivery Inc. (“Pineapple Express”), starting with the Greater Toronto Area (GTA) and expanding across the country. This Supply Agreement represents further progress in Namaste positioning itself as Canada’s leader for cannabis e-commerce and technology. The Company has received immense support from its cultivation partners that validate Namaste’s platform and strategy.
Jesse Denton , CEO of Kief Cannabis comments: “Namaste has positioned itself very strategically to become Canada’s top cannabis retailer online and their business model is supported by their success in e-commerce both in Canada and international markets. I’m very pleased for Kief Cannabis to be aligned with such a major player, and look forward to a long-term working relationship with the Namaste team.”
Sean Dollinger , President and CEO of Namaste comments: “We’re very pleased to announce this Supply Agreement with Kief Cannabis. We’ve spent significant time in discussion with their team and believe strongly in our ability to market and sell craft cannabis brands in our platform. We believe that consumers should have access to the best selection of high quality product and we’re focused on building relationships with craft brands like Kief Cannabis who will create more value for our patients online.
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