We’ve tracked EMERALD HEATH THE (OTCMKTS:EMHTF) and NAMASTE TECHNOLOGI (OTCMKTS: NXTTF) for quite a while now. It is a prospective partnership including a supply agreement between the companies that is drawing our attention today.
Both are Canada based cannabis stocks, and Canadian cannabis is one of our favorite topics here on Street register, simply because it’s a market that’s set to absolutely thrive in 2018. That’s going to be helped along by the nationwide end to prohibition, which is now just six short months away.
EMERALD HEATH THE (OTCMKTS:EMHTF) and NAMASTE TECHNOLOGI (OTCMKTS: NXTTF) have signed a Letter of Intent whereby Namaste and Emerald propose to enter into a definitive agreement to collaborate on strategic business opportunities worldwide and develop a fully-integrated e-commerce 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, 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.
“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 commented: “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.” (Source: Globe Newswire)
We’re eager to keep close tabs on the proposed partnership between EMHTF and NXTTF, particularly with regard to its finalization. Once all the red tape has been properly dealt with, we’ll be interested to look at the gritty details of the impending arrangement. Keep it locked on Street Register for updates, and we’ll deliver important developments on EMHTF as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in EMHTF stock, short or long.