Tetra Natural Health Signs a Supply Agreement with Namaste Technologies for the Marketing and Distribution of Rx Princeps™, its Premium Medicinal Cannabis Product
Momentum Public Relations
Press Release: May 17
Tetra Natural Health a division of Tetra Bio-Pharma Inc. (“Tetra” or the “Company”) (TSX-V:TBP) (OTCQB:TBPMF) and – Namaste Technologies Inc. (“Namaste” or the “Company”) (TSX-V: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 cannabis brand of Tetra Natural Health, a division of Tetra Bio-Pharma (“Tetra Bio-Pharma”)(TSX-V:TBP) (OTCQB:TBPMF), whereby Namaste will purchase Rx Princeps™ from Tetra Natural Health which will be sold through Namaste’s wholly owned subsidiary Access to Cannabis for Medical Purposes (“ACMPR”) medical cannabis “sales-only” facility, Cannmart Inc. (“Cannmart”). The agreement also includes the sales of Tetra Natural Health’s specially designed inhalation device, air filters and its Munchies B Gone gum.
Guy Chamberland, Interim CEO and CSO of Tetra Bio-Pharma comments “We are thrilled to have signed this partnership deal with Namaste who operates as an E-Commerce Medicinal Cannabis distributor with 32 sites in 20 countries, providing substantial exposure for Tetra Natural Health’s Rx Princeps™ brand of premium medicinal cannabis. 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 patient’s needs. 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.”
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).
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 that are engaged in the development of Bio Pharmaceuticals and Natural Health Products containing cannabis and 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.
Source: Tetra Bio-Pharma
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the inability of the Company, through its wholly-owned subsidiary, GrowPros MMP Inc., to obtain a license for the production of medical marijuana; failure to obtain sufficient financing to execute the Company’s business plan; competition; regulation and anticipated and unanticipated costs and delays, the success of the Company’s research strategies, the applicability of the discoveries made therein, the successful and timely completion and uncertainties related to the regulatory process, the timing of clinical trials, the timing and outcomes of regulatory or intellectual property decisions and other risks disclosed in the Company’s public disclosure record on file with the relevant securities regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. While no definitive documentation has yet been signed by the parties and there is no certainty that such documentation will be signed The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.
More information at: www.tetrabiopharma.com
For further information, please contact:
Tetra Bio-Pharma Inc.
Robert (Bob) Béchard
Vice President Finance and Business Development
bob@tetrabiopharma.comC 514 817-2514
For media information, please contact:
Daniel Granger
Daniel.granger@acjcommunication.com
ACJ Communication
O: 1 514 840 7990
M: 1 514 232 1556
For more information from Namaste Technologies, please contact:
Sean Dollinger, President and Chief Executive Officer
Namaste Technologies Inc.
Direct: +1 (786) 389 9771
Email: info@namastetechnologies.com
- Published in Tetra Bio Pharma
Namaste Signs Exclusive Distribution Agreement for Nimbin Products
Namaste Signs Exclusive Distribution Agreement for Nimbin Products
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Feb. 7, 2017) – Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(CSE.N.CN)(FRANKFURT:M5BQ) is pleased to announce that it has entered an exclusive distribution agreement (the “Agreement”) with NimbinVap Company (“NimbinVap”) for the international and domestic sale of the Nimbin line of vaporizers and accessories. This Agreement represents one of multiple exclusive agreements the Company intends to pursue and is testament to the unique distribution network and level of service the Company is known for delivering.
Nimbin Line of Products
The Nimbin V4.3 is a multi-tool portable device. The Nimbin V4.3 operates in eight different functions, including vaporizer mode, pipe mode, water pipe mode, hooka mode, joint holder and chillum mode. The Nimbin V4.3 is a great addition to any vaporizer collection and is available at an attractive price point compared to other vaporizers offering much less functionality. The Nimbin V4.3 is also unique in that it is not battery but flame operated. As part of its marketing strategy for NimbinVap, Namaste carries the Nimbin full experience package, which includes the Nimbin V4.3 vaporizer with a host of accessories.
Term of the Agreement
Pursuant to the term of the Agreement, NimbinVap has provided Namaste exclusivity over the sale of the Nimbin line of products. The exclusivity shall apply to all countries outside Mexico. In exchange for exclusivity, Namaste has committed to use reasonable commercial efforts to build the Nimbin brand and will provide support in terms of managing advertising, shipping, customer service and support, and warranty and return functions.
Management Commentary
Sean Dollinger, President and CEO of Namaste, comments: “We are very pleased to be working with NimbinVap to bring their products to market. The Nimbin V4.3 is one of the sleekest and most versatile portable devices on the market. The product has historically been a strong selling product for Namaste. Our merchandising team will continue to expand our business through exclusive distribution rights and will be attending the upcoming Champs Show in Las Vegas, where we will be meeting with multiple manufacturers to discuss similar arrangements.”
About NimbinVap Company
NimbinVap Company was founded by industry veterans with collectively over 25 years of experience the in metal mechanical industry, pharmaceuticals, pneumatics, heat-exchangers and of course vaping and smoking the best plant conceived by the mother earth. As engineers with such experience, the company decide to develop one single device capable of performing all the existing consumption methods by using common and standard items such as plastic bottles, aquarium hoses, etc. The objective was to create the characteristics of the most advanced vaporizers, bongs, pipes, hookahs, water pipes, but ready for anywhere, anytime and without batteries or electricity. The process to design something healthy, small and cheap with such features was hard and it took long time and several designs, but finally, it became a reality. The company and products are inspired by the Nimbin village of the Northern Rivers area of New South Wales, Australia. The region is known for the prominence of its environmental initiatives such as permaculture, sustainability, self-sufficiency as well as its cannabis counterculture.
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 e-commerce 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
Sean Dollinger, Chief Executive Officer
Further information on the company and its products can be accessed through the link 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 several 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.
CONTACT INFORMATION
-
Namaste Technologies Inc.
Sean Dollinger
Chief Executive Officer
+ 1 (786) 389-9771
info@namastevapes.com
www.namastetechnologies.com
- Published in Medical Marijuana, Namaste Technologies, News Home
Namaste (N:CSE) Approved to Retail Marley Natural Brand Accessories
Namaste Approved to Retail Marley Natural Brand Accessories
– Momentum Public Relations –
Press Release: February 2, 2017
Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ) is pleased to announce that it has been approved by Little Bay, Inc. (“Little Bay”) (a subsidiary of Privateer Holdings Inc.) as a retailer of the Marley Natural™ (“Marley Natural”) accessories product line in the United States. Marley Natural is the official cannabis brand of Bob Marley, one of the most iconic names in the cannabis industry. The brand is deeply rooted in the ideas and legacy of Bob Marley and celebrates nature, justice and the positive potential of the herb. The terms of resale will be governed by a retail agreement between Namaste and Little Bay.
The collection is made from American Black Walnut and accented by heat resistant hand-blown glass that ensures durability, convenient maintenance, and a comfortable hand-held feel. Namaste’s in-house merchandising team has identified the Marley Natural brand as an ideal collection for specific growth markets. Namaste will market the Marley Natural products to its customer list of over 250,000 individuals and through its e-commerce brands including Namaste Vapes, Everyonedoesit and VaporSeller.
Management Commentary
Sean Dollinger, President and CEO of Namaste, comments: “We are very pleased to carry the Marley Natural brand, the official cannabis brand of Bob Marley. We also pleased to have entered our first commercial arrangement with one of the Privateer Holdings companies, a leader in the cannabis industry, and look forward to further developing a relationship as both our companies expand.”
About Marley Natural
Marley Natural™ is dedicated to creating uniquely designed accessories and offers an elevated line of smoking products for discerning herb connoisseurs. Balancing intuitive form, with subtle Jamaican-inspired accents, the line caters to a personalized and very sensory approach to the classic ritual of smoking. Marley Natural accessories may only be used with legal smoking herbs and may not be used with tobacco products.
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 e-commerce 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
Sean Dollinger, Chief Executive Officer
Further information on the company and its products can be accessed through the links below:
- Published in Namaste Technologies, News Home
Namaste (N:CSE) Commences Distribution Through eBay
Namaste Commences Distribution Through eBay
– Momentum Public Relations –
Press Release: February 01, 2017
Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N) (CSE:N.CN) (FRANKFURT:M5BQ) is pleased to announce that it has commenced distribution through eBay Inc. (“eBay”), a global commerce leader that connects millions of buyers and sellers around the world. eBay has formally approved Namaste’s marketing templates and products have been listed for sale. As one of a select number of companies in the vaporizers and accessories industry to be permitted to distribute through eBay’s marketplace, Namaste will list its products under the recently launched vaporizers and e-cigarettes category.
Namaste will be required to keep sufficient product inventory on hand in the anticipation of increased demand through eBay’s marketplace and ensure adherence to all applicable category policies. Namaste is currently carrying over $1.5 million of inventory to meet demand from its growing customer base.
Management Commentary
Sean Dollinger, President and CEO of Namaste, comments: “We are very pleased to be one of a select number of vape companies to start distribution through eBay, one of the largest online marketplaces in the world. Going forward, we will continue to add additional items to this marketplace and see this platform an excellent means to expand the Namaste brand.”
About eBay Inc.
eBay Inc. is a global commerce leader that includes Marketplace, StubHub and Classifieds platforms. Collectively, the platforms connect millions of buyers and sellers around the world. The technologies and services that power these platforms are designed to enable sellers worldwide to organize and offer their inventory for sale and buyers to find and buy it virtually anytime and anywhere. The Marketplace platforms include the online marketplace located at www.ebay.com, its localized counterparts and the eBay mobile apps; which are among the world’s largest and most vibrant marketplaces for discovering great value and unique selection.
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 e-commerce 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
Sean Dollinger, Chief Executive Officer
Further information on the company and its products can be accessed through the link below:
- Published in Medical Marijuana, Namaste Technologies, News Home
Namaste (N:CSE) Announces Record Quarterly Revenue for Q1 2017
Namaste (N:CSE) Announces Record Quarterly Revenue for Q1 2017
– Momentum Public Relations –
Press Release: January 30th, 2017
Namaste Technologies Inc. (“Namaste” or the “Company“) (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ) is pleased to announce the filing of its unaudited quarterly financial statements, management’s discussion and analysis, and certification of the quarterly filings for the first quarter of fiscal 2017. The statements for the period can be accessed on SEDAR at www.sedar.com.
The operational and financial highlights for the period include the following:
- Recorded record quarterly revenue of $2,087,188, an increase of 77.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} from the first quarter of 2016;
- Generated gross profit of $683,016, an increase of 75.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} from the first quarter of 2016;
- Expanded the customer list to over 250,000 individuals producing monthly traffic of approximately 600,000 site visits in November;
- Closed the acquisition of the assets of URT1 Limited, which comprised its Everyonedoesit business (“Everyonedoesit”) and raised approximately $3.5 million of capital; and
- Appointed experienced members to the management team and board.
Financial Results
During the financial reporting period from September 1, 2016 to November 30, 2016, the Company focused efforts on further expanding its traffic and customer base, growing revenues, integrating the asset acquisitions of VaporSeller and Everyonedoesit, and securing capital to expand operations. Because of these focused initiatives, the Company achieved the following financial results:
- Net revenue of $2,087,188 (Q1 2016 – $1,175,341), an increase of 77.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} as compared to the first quarter of 2016. These financial results include net revenues for a 44-day period from the Everyonedoesit asset acquisition, which produced revenue of $316,460. On a gross basis (prior to adjustments for refunds, discounts and charge backs), the revenues for the period were $2,460,738, an increase of $373,550 to net revenues. These adjustments are anticipated to normalize as the Company has now integrated the acquisition of VaporSeller and URT1, which is anticipated to result in a higher net revenue going forward.
- Cost of sales of $1,404,172 (Q1 2016 – $787,008), which resulted in a gross profit of $683,016 (Q1 2016 – $388,333). As a percentage of sales, the gross margin was 32.7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} compared to 33.0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} in the first quarter of 2016. Going forward, the Company is optimizing its product mix to include higher margin glassware, private label products such as the Gurutm and related product accessories, products sourced from larger volume manufacturers, and driving higher average purchase prices from the VaporSeller and URT1 acquisitions.
- Operating costs of $1,580,087 (Q1 2016 – $513,977), an increase of 207.4{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} as compared to the first quarter of 2016. This increase in operating costs includes non-cash and currency expenses of $71,416. These costs relate to share based compensation and foreign exchange movements in the Company’s source currencies including the British Pound and Euro. In addition, were non-recurring legal expenses of $175,000 related to the URT1 acquisition and financing. After adjusting for these numbers, management estimates total operating costs of $1,333,671 for the period. In addition to these expenditures, the Company has also incurred costs associated with positioning the business for scalability and the administration of its public listing.
- Comprehensive loss of $(897,072) (Q1 2016 – $(125,644)). Going forward, management anticipates sales growth to strengthen from organic revenue generation and completed acquisitions, cost of sales to reduce due to higher volume purchases and optimization of the product portfolio, and operating costs to reduce as a result of normalized operations, which management anticipates to result in profitability and positive cash flow generation in fiscal 2017.
Management Commentary
Sean Dollinger, President and CEO of Namaste, comments: “The first quarter of 2017 represents substantial financial progress. In the first quarter, our team obtained these results while integrating multiple acquisitions and fulfilling orders during some of our most active months. Going forward, we continue to streamline operations, including optimizing our websites, human resources, and distribution networks, and believe our financial results will continue to reflect the value we have created for shareholders.”
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.
- Published in Medical Marijuana, Namaste Technologies, News Home
Is Big Ganja The Next Big Pharma?
Is Big Ganja The Next Big Pharma?
2016 brought the demise of Bowie, the rise of the alt-right and the surprise election of a Cheeto as President of the United States.
The 420 front was one of few sectors growing by leaps and bounds. Last year may have been the biggest ever for marijuana reform, with three additional states giving the nod to medical pot and four to recreational use.
Cannabis research firm The ArcView Group predicts a staggering $22 billion in legal marijuana sales by 2020. Unwilling to let grass grow under their feet, tech giants are prepared to spend big for a place in the race to become the Google of cannabis.
Marijuana and tech conspired in a big way in 2016. Microsoft and Oracle Corporation backed seed-to-sale software helping medical cannabis companies transact in compliance with regulations.
However, the year’s fresh crop of cannabis hardware is the real talking point; 2016 introduced marijuana tech products of a novel strain. These innovations expertly blur boundaries between medical technology and consumer goods. One such gadget is LEAF, an automated home growing system managed via smartphone app.
“I’ve been using [medical cannabis] since I got out of the [Israeli] military in 2010,” says LEAF CEO Yoni Ofir. His Colorado-based company offers plug ‘n plant technology that automates every conceivable factor in the growing process, such as nutrition, temperature and humidity regulation. “You can use data and sensors to make everything accurate and increase the chance of a great crop,” says Ofir.
With LEAF on their side, medical marijuana patients and recreational users alike can grow their own cannabis with minimal physical input. “It’s basically a medical-grade lab,” says Ofir. Besides helping stoners get the best from their bud, LEAF could be a lifeline for patients with chronic illnesses and disabilities. Conserving time, money and effort makes it much simpler to maintain treatment plans.
From an aesthetic perspective, LEAF’s sleek device would look perfectly at home in an Apple store. “Design leads everything that we do at our company,” says Ofir. “It should be important for any upcoming marijuana tech company.”
The past year’s other marijuana tech innovations mirror LEAF’s preoccupation with both automation and aesthetics. Tel Aviv-based Syqe (pronounced ‘Psyche’) Medical’s pocket-sized cannabis inhaler delivers precision dosing through preloaded cartridges. The device’s current incarnation features chic white casing reminiscent of a Fujifilm Instax camera.
Photo courtesy of Syqe Medical
LEAF’s hefty price tag makes it near inaccessible to those who could benefit most from automated growing. The LEAF system itself will set consumers back a cool $2,990. Filters and nutrient packs required for a single grow cost $39 a pop. Once launched in the U.S., Syqe’s inhaler could also come at a similarly high buying cost with comparable long-term maintenance expenses.
Even though it’s usually cheaper than recreational pot, medical marijuana still isn’t cheap, and can cost around $40 for an eighth of an ounce, according to a user generated data bank called PriceOfWeed.com that’s on the low end of the spectrum. Investing in LEAF would certainly cut costs in the long run, it’s simply a case of spending money now to save money in the future. Investment buys are out of reach for many patients prescribed medicinal Mary Jane, whether we’re talking about a medical device or a Rolex.
If cannabis tech becomes user experience-focused at the expense of accessibility, essential innovations could be limited to the recreational market. Marijuana tech companies are ultimately profit-driven businesses, but there’s plenty that can be done on both company practice and federal policy levels.
“With technology, the more units being sold, the cheaper the price,” says Ofir. “Medical users have a lot to gain, because it just happens to be the same plant that the recreational users want.” However, companies have more socially responsible options available than developing a device and letting the free market decide its accessibility.
Price breaks from marijuana tech companies could offer a practical solution to increased accessibility. Several New Jersey dispensaries offer discounts to low-income patients, military veterans, senior citizens and minors. If cannabis companies applied this approach to their retail policy, medical users could have increased access to vital treatment tools without compromising on profitability.
In contrast with the inaccessibility of some medical marijuana hardware, accessible advances can and do exist in the realm of software. Releaf, a free app for Android and iOS helps patients manage cannabis dosing and gather treatment data for doctors. This sleek, intuitive app holds a five-star average rating across platforms.
Although currently unmonetized, Releaf offers ample opportunity for future monetization models such as in-app purchases and sponsorships. The only limit is developer Automata Studios’ creativity.
Photo courtesy of LEAF
A major shift in federal policy is also key to ensure widespread marijuana tech accessibility for medical users. The Controlled Substances Act classifies cannabis as a Schedule I drug without medicinal value, although policy at state levels often differs. Health insurance companies, whether funded privately or via social welfare programs, steer clear of this murky territory to the detriment of patients.
Medical marijuana patients are almost always forced to pay out of pocket for prescribed expenses. Marijuana Policy Project state policies director Karen O’Keefe blames bureaucratic obstacles for this lack of assistance. “In our experience, the vast majority of health insurance companies have not been willing to cover medical marijuana,” says O’Keefe. “Most or all medical marijuana laws explicitly say [insurance companies] are not required to cover the costs of medical cannabis.”
Without policy reform to facilitate coverage, technological bells and whistles like LEAF will remain inaccessible to those who could benefit from them most. “The passage of the CARERS Act, which would change federal law to formally recognize state medical marijuana programs, or the outright de-scheduling of marijuana are the most important,” says O’Keefe.
It’s too soon to tell what the incoming Trump administration could mean for medical marijuana policy. However, cannabis tech companies certainly hold sway in ensuring more immediate access to innovations for medical users. Rather than relying on trickle-down of treatment tools via recreational consumers, targeted price breaks and placing pressure on insurance providers could make the world of difference for patients without tarnishing turnover.
- Published in Blog, Medical Marijuana, Namaste Technologies, Tetra Bio Pharma
Namaste (N:CSE) Purchases VaporSeller Earn-Out
Namaste Purchases VaporSeller Earn-Out
– Momentum Public Relations –
Press Releases: January 16th, 2017
Namaste Technologies Inc. (“Namaste”) (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ) is pleased to announce that it has entered into a binding amending agreement (the “Amending Agreement”) with Haze Industries, Inc. (“Haze”) for the purchase of the remaining earn-out obligation as set forth in the definitive asset purchase agreement (the “Asset Purchase Agreement”) announced on June 7, 2016. The Asset Purchase Agreement memorialized the terms and conditions whereby Namaste purchased the assets comprising VaporSeller, an e-commerce platform for the distribution of vaporizers and accessories that is focused on the US market and generated an unaudited revenue of US$3.4 million in 2015. The initial undiscounted value of the earn-out was approximately US$1.5 million. Namaste will settle the remaining earn-out obligation of approximately US$1.3 million by making an initial payment of US$285,000 and monthly payments of US$8,000 for 12-months. Namaste will also issue Haze the initial tranche of 1,700,000 common shares of the Company pursuant to the Asset Purchase Agreement. The total number of shares to be issued is 5,000,000, as previously announced. All common shares issued will be subject to a 4-month statutory hold period.
Management Commentary
Sean Dollinger, President and CEO of Namaste, comments: “The purchase of this remaining earn-out obligation provides Namaste additional cash flow to reinvest into our operations. The VaporSeller customer list of over 150,000 individuals and domains represent a strong foothold for Namaste in the US market and we now control these assets without any future obligations. The principals of Haze will continue to work with Namaste as we assume full operational management of the site.”
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 e-commerce 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
Sean Dollinger, Chief Executive Officer
Further information on the company and its products can be accessed through the links below:
- Published in Medical Marijuana, Namaste Technologies, News Home
Namaste (N:CSE) Announces Record Monthly Sales of Over $1.0 Million
Namaste Announces Record Monthly Sales of Over $1.0 Million and 1,308{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Increase in Traffic
– Momentum Public Relations –
Press Release: December 7, 2016
Namaste Technologies Inc. (“Namaste”) (CSE:N) (CSE:N.CN) (FRANKFURT:M5BQ) is pleased to announce that it has achieved record monthly sales and traffic for the month of November. The total unaudited sales amount for November was approximately $1.0 million Canadian and total traffic was 596,453. These results reflect the acquisition of the VaporSeller and Everyonedoesit domains. The breakdown of the revenue and traffic by domain is set forth below:
Domain | Revenue | Percentage | Traffic | Percentage | |||
NamasteVapes | 355,884 | 35.3 | 71,743 | 12.0 | |||
Everyonedoesit | 360,174 | 35.8 | 337,610 | 56.6 | |||
VaporSeller | 290,782 | 28.9 | 187,100 | 31.4 | |||
Total | $ | 1,006,839 | 100.0 | {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} | 596,453 | 100.0 | {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} |
As reflected by these results, the Namaste Vapes domain generated 35.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of revenue from 12.0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of total traffic. This disproportionate share of revenue generation is the result of a higher conversion ratio and average purchase amount per order. By applying market leading conversion and upselling techniques to the recently acquired VaporSeller and Everyonedoesit domains, the Company believes it can extract considerable revenue growth from these acquisitions, which underpins the strategic rationale of acquiring these assets. In terms of total traffic, Namaste has increased its total pre-acquisition monthly traffic from 42,353 in July to 596,453 in November, an overall increase of 1,308.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} in monthly traffic. The majority of this traffic has been secured using organic traffic generation techniques as opposed to higher cost pay-per-click advertising.
Management Commentary
Sean Dollinger, President and CEO of Namaste, comments: “The results produced in the month of November demonstrate the transactional execution capabilities of Namaste’s management team. As we continue to implement our e-commerce development and acquisition strategies, we see multiple opportunities to further expand our revenue form organic growth and additional consolidation opportunities. In comparison to the spectrum of companies participating in the cannabis cultivation and hardware industry, we believe these results further demonstrate our scale and the value of our business in the context of the current market environment.”
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 e-commerce 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
Sean Dollinger, Chief Executive Officer
Further information on the company and its products can be accessed through the link below:
- Published in Medical Marijuana, Namaste Technologies, News Home
Namaste (N:CSE) Establishes Channel on Peeks Social Commerce Platform
Namaste Establishes Channel on Peeks Social Commerce Platform
– Momentum Public Relations –
Press Release: December 1, 2016
Namaste Technologies Inc. (“Namaste”) (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ) is pleased to announce that it has entered an agreement with Keek Inc., the online social commerce company that is monetizing Peeks, an e-commerce enabled platform that allows users to livestream personal interactive e-commerce enabled mobile broadcasts. Namaste has established a channel on the peeks platform and will received exposure to Peek’s global user base of over 75 million registered users in approximately 100 countries.
Pursuant to the terms of the agreement, Peeks shall offer Namaste a premium position within its upcoming discovery channel that will cater towards multiple media partners, user generated content and highlighted e-commerce partners who will be able to monetize their live and archived videos. One of the upcoming discovery channel categories will focus on legalized cannabis and will feature Namaste as a premier e-commerce partner within that channel. Furthermore, Peeks will enlist social influencers that will participate in promoting the purchase of products through the Peeks Offer-Box technology. By simply tapping their screen, viewers inside Peeks can purchase influencer endorsed products provided by Namaste.
Management Commentary
Sean Dollinger, President and CEO of Namaste, comments: “We are very pleased to launch on the Peeks platform. We see significant opportunity to generate revenue through this application and plan to work with multiple high-profile influencers to affectively convert Peek’s 75 million registered users into exponential sales growth.”
About Keek Inc.
Keek’s core business is the developing of an online social video platform for both web and mobile with an emphasis on mobile which allows users to upload and share personal videos of themselves or events surrounding them, their self-expression. Keek has developed a global video social network, enabled over the Internet and on mobile devices around the world. Since inception, Keek’s community has grown to over 75 million registered users across 6 global regions including North America, South America, Europe, Middle East, Asia/Oceania, and Africa. Keek has also began an integration of Peeks livestreaming technology. Peeks is described as an e-commerce enabled platform that allows users to livestream personal interactive e-commerce enabled mobile broadcasts.
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 e-commerce 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
Sean Dollinger, Chief Executive Officer
Further information on the company and its products can be accessed through the link below:
- Published in Namaste Technologies, News Home
Namaste (N:CSE) Approved to Distribute Through eBay
Namaste Approved to Distribute Through eBay
– Momentum Public Relations –
Press Release: November 29, 2016
Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N)(CSE:N.CN)(FRANKFURT:M5BQ) is pleased to announce that it has been approved to distribute its products through eBay Inc. (“eBay”), a global commerce leader that connects millions of buyers and sellers around the world. As one of a select number of companies in the vaporizers and accessories industry to be permitted to distribute through eBay’s marketplace, Namaste will list its products under the recently launched vaporizers and e-cigarettes category.
Namaste will be required to keep sufficient product inventory on hand in the anticipation of increased demand through eBay’s marketplace and ensure adherence to all applicable category policies.
Management Commentary
Sean Dollinger, President and CEO of Namaste, comments: “We are very pleased to be one of a select few companies in our industry to be permitted to distribute our products through eBay. As a household name, we are also pleased to see the launch of a new product category from eBay to specifically address the growing demand for our products. We anticipate being able to significantly increase sales through the eBay marketplace.”
About eBay Inc.
eBay Inc. is a global commerce leader that includes Marketplace, StubHub and Classifieds platforms. Collectively, the platforms connect millions of buyers and sellers around the world. The technologies and services that power these platforms are designed to enable sellers worldwide to organize and offer their inventory for sale and buyers to find and buy it virtually anytime and anywhere. The Marketplace platforms include the online marketplace located at www.ebay.com, its localized counterparts and the eBay mobile apps; which are among the world’s largest and most vibrant marketplaces for discovering great value and unique selection.
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 e-commerce 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
Sean Dollinger, Chief Executive Officer
Further information on the company and its products can be accessed through the link below:
- Published in Namaste Technologies, News Home
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