Canopy And NamasteVapes Team
Canopy Growth, Namaste to educate on cannabis framework
2017-02-21 09:22 ET - News Release
See News Release (C-WEED) Canopy Growth Corp
Mr. Jordan Sinclair of Canopy Growth reports
CANOPY GROWTH ANNOUNCES MOU WITH NAMASTE TECHNOLOGIES
Canopy Growth Corp. has entered into a memorandum of understanding with Namaste Technologies Inc., an emerging leader in the vaporizer and accessories space with 26 e-commerce retail stores in 20 countries. This memorandum of understanding represents an opportunity for the companies to work together to educate customers on the legal, regulated cannabis framework in Canada; encourage the use of vaporizing technology over smoking; and introduce cross-brand exposure among their respective clients. Namaste's database consists of approximately 300,000 customers that generate upward of 600,000 site visits monthly. Approximately 28,000 of these monthly site visits are generated from customers residing in Canada.
The purpose of the memorandum of understanding is to define the intention of Namaste and Canopy to expand their respective market positions by seeking to form multipoint working arrangements and exploring the development of new delivery devices for the consumption of cannabis. Pursuant to the terms of the memorandum of understanding, Namaste and Canopy will work together to educate Namaste's Canada-based clients on the legal, regulated framework for medical cannabis. Namaste will also support Canopy on the development of Canopy-branded vaporizers and accessories.
The commercial aspects of this partnership will be further expanded through a multifunction working group of Namaste and Canopy.
About Canopy Growth Corp.
Canopy Growth is a world-leading diversified cannabis company, offering diverse brands and curated cannabis strain varieties in dried and oil extract forms. Through its wholly owned subsidiaries, Canopy Growth operates numerous state-of-the-art production facilities with over half a million square feet of indoor and greenhouse production capacity.
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