Namaste Announces Medical Cannabis Supply Agreement with Tetra Natural Health, to Sell RX Princeps Through Cannmart Namaste Technologies Inc. MAY 17 18 /08:30 ET VANCOUVER, May 17, 2018 /CNW/ -
Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV: 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 marijuana brand of Tetra Natural Health,
a division of Tetra Bio-Pharma ("Tetra Bio-Pharma")(TSXV: TBP)(OTCQB: TBPMF), whereby Namaste will purchase RX Princeps from Tetra Natural Health which will be sold through Namaste's wholly owned subsidiary and Access to Cannabis for Medical Purposes
("ACMPR") medical cannabis "sales-only" facility, Cannmart Inc. ("Cannmart"). In anticipation of receiving Cannmart's sales license, the Company is focused on procuring cannabis from strategic partners to offer through its platform.
Tetra Bio-Pharma 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. In anticipation of receiving its sales license, Namaste is now focused on ramping up inventory purchasing of a carefully curated selection of high-quality medical cannabis products that will bring value to its patients.
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).
The Supply agreement further supports Namaste's initiative to provide Cannmart's patients with the highest quality medical cannabis flower and oil available in the Canadian market. The Company will leverage its technology including its recent acquisition of leading AI and machine-learning provider Findify AB Inc. ("Findify") to focus on providing a personalized experience for each patient by using machine-learning algorithms. Patient care, retention and selection are core components of Namaste's strategy to set itself apart in the online retail of medical cannabis. The Company believes that it will develop into Canada's largest platform of medical cannabis patients and in offering an incredible patient experience.
Management Commentary Guy Chamberland , CEO of Tetra Bio-Pharma comments "We are thrilled to have signed this partnership deal with Namaste who operate as an E-Commerce Medicinal Cannabis distributor with 32 sites in 20 countries, providing substantial exposure forTetra Natural Health's RX Princeps brand of medicinal marijuana. 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 patients' needs. We plan on being very selective in choosing which licensed producers that we will work with to ensure that our patients receive nothing but the best quality medical cannabis available. 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."