Namaste acquires domain, customers of VapeBr
Namaste Technologies Inc. has acquired the domain and customer database of VapeBr, Brazil’s largest vaporizer retailer.
NAMASTE TECHNOLOGIES Inc. has acquired the domain and customer database of Brazil’s largest vaporizer retailer, VapeBr, in consideration of signing an exclusive services agreement for fulfilment for Namaste’s Brazilian operations. The acquisition of VapeBr is accretive in nature and is expected to add over $1-million in additional annual revenue to Namaste’s current revenue stream.
Under the terms of the agreement, Namaste has acquired the VapeBr domain and will therefore inherit all future associated revenue.
VapeBr management has agreed to provide the following under the agreement:
• Inventory management;
• Order processing;
• Local support;
• Warranty/return processing.
As a result of this transaction, Namaste plans to greatly expand the VapeBr product offering, as it sees very strong growth potential in the Brazilian market. The acquisition of the VapeBr e-commerce platform is not only expected to have an immediate impact on Namaste’s revenue, but it is also expected to add over 10,000 additional customers to Namaste’s growing global database of medical cannabis users. Through the integration of VapeBr onto Namaste’s proven e-commerce platform, Namaste is confident it can substantially grow this already impressive customer base. This agreement further validates Namaste’s ability to consolidate industry competitors and expand its operations abroad.
Additionally, Namaste is pleased to announce that the NamasteMD smart phone app has been submitted to the Apple Store, is awaiting approval, and is expected to soon be avail able on b oth IOS and Android devices. NamasteMD is a revolutionary telemedicine application which has been designed to connect patients with doctors and nurse practitioners, in an attempt to facilitate a seamless process for obtaining medical documents under Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR) program. This state-of-the-art application incorporates facial recognition algorithms, and is the first of its kind to feature exclusive age- and identity-verification technology. Namaste plans on utilizing this technology on the NamasteMD platform to distribute medicinal cannabis through its wholly owned subsidiary, Cannmart Inc. Management commentary Sean Dollinger, president and chief executive officer of Namaste, commented: “I am extremely proud of our team for building an e-commerce platform that is being actively solicited by our direct competitors to work collaboratively. Based on this agreement, we expect further opportunities to present themselves for Namaste to work with companies looking to divest their businesses, and believe such arrangements are a win-win situation for all parties involved. We are extremely excited that our efforts are not only being noticed but rewarded with arrangements as such. Namaste welcomes these opportunities and anticipates these trends to continue as Namaste steals market share on a global scale. This transaction further confirms the value we have created with regards to the products and services we provide, and our ability to leverage our database moving forward.
“As our e-commerce platform evolves, we are confident our decision to implement cutting-edge ageand identity-verification technology ahead of our competition will be instrumental in allowing us to become industry leaders. We believe these innovative initiatives not only demonstrate our commitment to the industry, but also provide an ideal solution to ensure the safe and responsible distribution of recreational cannabis on both a provincial and federal level.”
About Namaste Technologies Inc.
Namaste is the largest on-line retailer for medical cannabis delivery systems globally. Namaste distributes vaporizers and smoking accessories through e-commerce sites in 26 countries and with five distribution hubs located around the world. Namaste has majority market share in Europe and Australia, with operations in the United Kingdom, United States, 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-st age ap pli cant for a medical cannabis distribution licence (under the Access to Cannabis for Medical Purposes Regulations), is pursuing a new revenue vertical in on-line retail of medical cannabis in the Canadian market.
We seek Safe Harbor.
Sean Dollinger, Sefi Dollinger, Kiran Sidhu, Peter Emmanouil Simeon, Philip van den Berg
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