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Namaste Technologies Inc. (N.CN) (NXTTF) is an emerging leader in vaporizer and accessories space. The company has 26 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products, actively manufactures and launches new proprietary products for retail and wholesale distribution, and is focused on leveraging its massive database to capitalize the burgeoning global cannabis industry.
Over the last year, Namaste has entered several strategic partnerships and remains focused on expanding its product offering, on making accretive acquisitions and strategic partnerships, and entering new cannabis markets across the globe.
Namaste has hit several milestones this year. Earlier this year, the company significantly improved its standing with United States investors as it was approved to list on the OTCQB with Canaccord Genuity as a market maker.
Working with Canada’s Leading Cannabis Producer
Today, Namaste Technologies signed a product acquisition agreement with Aphria Inc. (APH.TO) (APHQF), to supply medical cannabis through Namaste’s Cannmart facility in Ontario, Canada.
The agreement was a milestone for Namaste as it is in-line with the management team’s execution strategy, which is to migrate medical cannabis consumers to a licensed producer. The agreement also represents continued progress for the company in securing supply agreements with leading Canadian licensed medical cannabis producers.
Namaste plans to build on its current product offerings through its distribution license, by creating an online marketplace that is inclusive of medical cannabis for its Canadian customers.
Aphria is a strategic partner for Namaste and we are favorable on this relationship. The licensed medical cannabis producer is one of the largest in Canada and is focused on the production of pharmaceutical grade medical cannabis products.
An Execution Story
In late April, Namaste signed a definitive agreement for the acquisition of CannMart, a late stage applicant under the ACMPR. In 2014, CannMart submitted its application to Health Canada to become a “sales only ‘licensed medical cannabis producer.
This announcement was significant for a variety of reasons and we expect this acquisition to prove to be accretive and add significant value to Namaste if they can execute and achieve its milestones.
Although many cannabis companies have announced exciting initiatives, developments, acquisitions and partnerships, most do not follow through on such announcements. In late March, Namaste and CannMart signed a non-binding letter of intent and we are impressed with the companies’ turnaround time when it comes the signing of a definitive agreement.
A Stock to Watch
Although Namaste’s fundamental story has significantly advanced over the last year, the shares are down almost 10% in 2017. We are favorable on the recent developments and believe the street undervalues the company.
As Namaste continues to execute on its initiatives, we expect the shares to continue to move higher. While the shares are down on the year, the last few months have shown strength and Namaste is a stock to watch!
Further information on the Company and its products can be accessed through the links below:
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