Source: Emerald Health Therapeutics, Inc.
Emerald Health
Therapeutics Inc. (“Emerald”) (TSXV:EMH) (OTCQX:EMHTF) and Namaste
Technologies Inc. (“Namaste”) (CSE:N) (FRANKFURT:M5BQ)
(OTCMKTS:NXTTF) have signed a Letter of Intent (“LOI”) whereby Namaste
and Emerald propose to enter into a definitive agreement (the “Proposed
Agreement”) to collaborate on strategic business opportunities worldwide
and develop a fully-integrated e-commerce platform (the “Platform”) to
serve as a retail channel for Emerald’s patients. Under the terms of the
Proposed Agreement, the companies would leverage Namaste’s existing
consumer databases, site traffic and e-commerce technology for marketing
purposes along with Emerald’s pharmaceutical and biotech expertise to
develop medical cannabis downstream products tailored to specific
markets and patients.
The e-commerce
platform will be developed using Namaste’s technology, including machine
learning algorithms and advanced on-site optimization techniques, and
is planned to be available on desktop and mobile devices. Through the
Platform Namaste would make available its full product catalog of over
1000+ cannabis delivery devices to Emerald for sale to its patients.
This e-commerce platform is planned to connect to Namaste’s inventory
management system and be compliant with Canada’s Access to Cannabis for
Medical Purposes (“ACMPR”) regulations.
Under
the LOI, Emerald will enter into a medical cannabis Supply Agreement
with Namaste’s wholly owned subsidiary, Cannmart Inc. (“Cannmart”),
whereby Emerald would supply proprietary strains of medical cannabis to
Cannmart, a late-stage ACMPR applicant for a medical cannabis
“sales-only” license. Emerald is an ACMPR licensed producer of medical
cannabis that cultivates proprietary cannabis strains using proven
growing methods backed by cutting-edge research. Cannmart, with its
“sales-only” platform, intends to impact the medical cannabis
online-retail industry in Canada as it focuses on bringing a larger
variety of medical cannabis products from many licensed producers, both
domestically and abroad, in an easy-to-use platform for patients.
“Emerald’s
goal is to offer a broad selection of cannabis products to adult
consumers through various legal channels, including digital and physical
stores,” said Avtar Dhillon, Executive Chairman of Emerald. “We believe
that combining Namaste’s online marketing tools and expertise, large
and growing customer base, and array of cannabis delivery products with
our proprietary cannabis strains and product development expertise can
build significant incremental sales in legal markets in Canada and
internationally.”
Sean Dollinger, President and
CEO of Namaste comments: “We see great value in working with Emerald to
develop a vertically integrated platform, starting with driving site
traffic through to acquiring patients and offering them high quality
medical cannabis products. Our goal with Cannmart is to offer the
largest selection of medical cannabis products to our patient base in
Canada. We look forward to exploring similar opportunities with Emerald
internationally. Thanks to Emerald’s management team and Executive
Chairman for the amazing communication and collaboration in developing
this concept and we look forward to bringing this vision to reality.”
Subject
to obtaining necessary stock exchange approvals, on signing of the
Proposed Agreement and Supply Agreement Namaste would receive 500,000
warrants of Emerald Health Therapeutics Inc. and Emerald Health
Therapeutics Inc. would receive 500,000 warrants of Namaste. All such
warrants would be priced in accordance with applicable stock exchange
policies.
About Emerald Health Therapeutics
Emerald Health Therapeutics, Inc. (TSXV:EMH) (OTCQX:EMHTF) operates through Emerald Health Botanicals Inc. ("Botanicals"), a wholly owned subsidiary and Licensed Producer under Canada's Access to Cannabis for Medical Purposes Regulations. Through Botanicals, Emerald is authorized to produce and sell dried medical cannabis flower and medical cannabis oil. It currently operates an indoor facility in Victoria, BC, and is building a 500,000 s.f. greenhouse on 32 acres in Metro Vancouver, with expansion potential to 1 million s.f. to serve the anticipated legal Canadian adult-use cannabis market starting in 2018. Emerald also owns 50% of Pure Sunfarms Inc., a partnership with Village Farms International Inc. that is converting an existing 1.1 million s.f. greenhouse in Delta, BC from growing tomatoes to growing cannabis. Emerald's team is highly experienced in life sciences, product development and large-scale agribusiness. Emerald is part of the Emerald Health group, which is broadly focused on developing pharmaceutical, botanical and nutraceutical products designed to provide wellness and medical benefits by interacting with the human body's endocannabinoid system.
Emerald Health Therapeutics, Inc. (TSXV:EMH) (OTCQX:EMHTF) operates through Emerald Health Botanicals Inc. ("Botanicals"), a wholly owned subsidiary and Licensed Producer under Canada's Access to Cannabis for Medical Purposes Regulations. Through Botanicals, Emerald is authorized to produce and sell dried medical cannabis flower and medical cannabis oil. It currently operates an indoor facility in Victoria, BC, and is building a 500,000 s.f. greenhouse on 32 acres in Metro Vancouver, with expansion potential to 1 million s.f. to serve the anticipated legal Canadian adult-use cannabis market starting in 2018. Emerald also owns 50% of Pure Sunfarms Inc., a partnership with Village Farms International Inc. that is converting an existing 1.1 million s.f. greenhouse in Delta, BC from growing tomatoes to growing cannabis. Emerald's team is highly experienced in life sciences, product development and large-scale agribusiness. Emerald is part of the Emerald Health group, which is broadly focused on developing pharmaceutical, botanical and nutraceutical products designed to provide wellness and medical benefits by interacting with the human body's endocannabinoid system.
About Namaste Technologies Inc.
Namaste is the largest online retailer for medical cannabis delivery systems globally. Namaste distributes vaporizers and smoking accessories through e-commerce sites in 26 countries and with 5 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.
Namaste is the largest online retailer for medical cannabis delivery systems globally. Namaste distributes vaporizers and smoking accessories through e-commerce sites in 26 countries and with 5 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.
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