Mr. Terry Booth of Aurora reports
AURORA CANNABIS AND NAMASTE ANNOUNCE STRATEGIC HARDWARE SUPPLY AGREEMENT
Aurora Cannabis Inc. and Namaste Technologies Inc. have signed an exclusive hardware supply agreement for the Canadian market. Pursuant to the agreement, Aurora, through its website and mobile app, will offer a specially curated selection of industry-leading vaporizers, which will be sourced from Namaste.
Under the terms of the agreement, Namaste will establish a direct inventory feed to both Aurora's on-line shop and its mobile app, providing Aurora customers with access to a range of medical-grade vaporizers and other innovative products that are supplied through Namaste's platform.
Namaste will be providing these products to Aurora customers via next day delivery across Canada, and same day delivery to customers in the Greater Toronto Area, which has a population of nearly 6.5 million people. Namaste will also provide Aurora with back-office support, including the handling of returns and warranty claims.
"This partnership is great for our clients and for Aurora, as it significantly broadens our product offering to customers, while requiring no capital outlay on our part," said Terry Booth, chief executive officer of Aurora. "The global cannabis markets are showing increasing momentum towards smoke-free options, and we are excited to meet this growing demand by offering a preferred selection of Namaste-sourced vaporizers that meet the Aurora standard. Furthermore, offering a broader selection of high-quality ancillary products is an important element in our strategy to position Aurora for the adult consumer market, strengthening our brand in preparation for legalization in 2018."
Sean Dollinger, president and chief executive officer of Namaste, said: "We believe that this agreement, the first of its kind for us, will dramatically increase our market reach in Canada and be accretive in nature. The Aurora standard continues to set the benchmark for product quality and customer service, and Aurora has created one of the strongest brands in the global cannabis sector. We anticipate generating further traction for our best-in-class product offering, and we intend to leverage this model through securing similar agreements in other countries around the world."
The global legal marijuana industry is rapidly becoming a multibillion-dollar market, and Namaste aims to capture significant market share in the ancillary hardware segment of the sector. Through strategic partnerships with leading companies such as Aurora, Namaste, which year to date has already shipped in excess of 100,000 units, expects to expand its reach and increase its market share.
About Aurora Cannabis Inc.
Aurora's wholly owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada's Access to Cannabis for Medical Purposes Regulations (ACMPR). The company operates a 55,200-square-foot state-of-the-art production facility in Mountain View county, Alberta, and is currently constructing a second 800,000-square-foot production facility, known as Aurora Sky, at the Edmonton International Airport, and has acquired, and is undertaking completion of, a third 40,000-square-foot production facility in Pointe-Claire, Que., on Montreal's West Island.
In addition, the company holds approximately 9.6 per cent of the issued shares (12.9 per cent on a fully diluted basis) in leading extraction technology company Radient Technologies, based in Edmonton, and is in the process of completing an investment in Edmonton-based Hempco Food and Fiber for an ownership stake of up to 50.1 per cent. Furthermore, Aurora is the cornerstone investor with a 19.9-per-cent stake in Cann Group Ltd., the first Australian company licensed to conduct research on and cultivate medical cannabis.
About Namaste Technologies Inc.
Namaste Technologies 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.
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