Cannvas Signs Revenue Share Partnership Agreement with Namaste Technologies Inc.
Companies to Explore How to Enhance User Experiences
TORONTO, Aug. 22, 2018 /CNW/ – Cannvas MedTech Inc. (“Cannvas” or the “Company”) (CSE: MTEC) (Frankfurt: 3CM), a leading business technology company in the cannabis space, and Namaste Technologies Inc. (“Namaste”) (TSXV: N) (FRA: M5BQ) (OTCMKTS: NXTTF), are pleased to announce the signing of a definitive revenue share partnership agreement (the “Agreement”), whereby the two companies will share revenue generated through co-branding and marketing efforts between Namaste’s medical cannabis patient portal, NamasteMD and the Cannvas.me cannabis education platform.
“I am very impressed with the vision of Cannvas to become the unbiased source of education for medicinal and recreational cannabis users worldwide,” said Kory Zelickson, Co-Founder and VP of Business Development for Namaste. “With the legalization of cannabis in Canada only a few short months away, forming a long-term partnership with an education platform furthers Namaste’s commitment to its patients around the safe and responsible use of cannabis.”
Under the terms of the Agreement, Cannvas and Namaste will build and deploy technologies driving customer integration and value-added services between company platforms. Both organizations will continue to explore other avenues to expand the partnership and enhance user experiences across their respective platforms.
“As we close in on the launch of Cannvas.me, we are very excited to team up with Namaste Technologies,” said Steve Loutskou, Chief Operating Officer, Cannvas. “They have done an incredible job creating the world’s largest and most comprehensive cannabis-focused e-commerce platform and make an ideal partner for Cannvas. We share a similar outlook of aspiring to partner with leading companies making a difference educating consumers about the benefits of medical cannabis. I look forward to working with the Namaste team and building a long-term and mutually beneficial partnership.”
Namaste is the world’s largest and most comprehensive cannabis-focused e-commerce platform with 32 sites in 20 countries and over 600,000 monthly visits to their e-commerce sites with a database of approximately 1.5 million users. Their fully integrated e-commerce network spans across the globe offering everything from rolling papers to vaporizers. In Canada, Namaste has developed the country’s first telemedicine app, available on iPhone and Android devices, allowing patients to connect to doctors or nurse practitioners and have access to a wide range of high-quality cannabis products and services. Cannvas.me is Cannvas Medtech’s scalable and comprehensive cannabis education solution built for the global medicinal and recreational user community, offering interactive tools and physician-backed content to audiences wishing to learn about healthcare through cannabis.
About Namaste Technologies Inc.
Namaste Technologies is Your Everything Cannabis Store™. Namaste operates the largest global cannabis e-commerce platform with over 30 websites in 20+ countries under various brands. Namaste’s product offering through its subsidiaries includes vaporizers, glassware, accessories, CBD products, and the company will soon be selling medical cannabis in the Canadian market, subject to approval by Health Canada.
Namaste has developed and acquired innovative technology platforms including NamasteMD.com, Canada’s first Health Canada compliant telemedicine application, and in May 2018 the Company acquired a leading e-commerce AI and Machine Learning Company, Findify AB. Findify uses artificial intelligence algorithms to optimize and personalize a consumer’s on-site buying experience. Namaste is focused on leveraging its cutting-edge technology to enhance the user experience throughout its platforms. Namaste will continue to develop and acquire innovative technologies which will provide value to the Company and to its shareholders as well as to the broader cannabis market.
About Cannvas MedTech Inc.
Cannvas MedTech is a leading business technology company in the cannabis space. We design and build customer-centric solutions that enable our partners to harness the power of data to truly understand their customers, industry, and key business drivers.
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Issuer’s future plans, objectives or goals, including words to the effect that the Issuer or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.