Namaste Technologies Inc.
("Namaste" or the "Company") (TSXV:N
) (FRANKFURT: M5BQ
) is pleased to announce that the Company has signed an exclusive international distribution agreement (the "Agreement") with Shatterizer Inc.
("Shatterizer" or "Shatterizer.com"), whereby Namaste will retain exclusive rights to sell Shatterizer's innovative line of cannabis concentrate vaporizers in international markets. Namaste is also pleased to announce that the Company will be working with Shatterizer
to launch a pod-based vaporizer system for the Canadian recreational market. The Company, through its wholly-owned subsidiary Infinite Labz Inc. ("Infinite Labz"), will produce cannabis oil and provide filling and distribution for Shatterizer's upcoming pod-based concentrate vaporizer system. Namaste is focused on leveraging its expertise in vaporizer technology within Canada, in an attempt to capitalize on what it anticipates being a significant market for concentrate pens and pre-filled cartridges in both the recreational and medical cannabis markets.
The Shatterizer vaporizer is designed for use with cannabis concentrates and extracts. The demand for high-potency cannabis concentrates has grown exponentially in the US and both Namaste and Shatterizer recognize the opportunity in the Canadian recreational and medical markets. The Shatterizer is engineered to produce a remarkably smooth draw, releasing the fullest flavor through the globe-shaped aluminum atomizer and mouthpiece so that users can enjoy the full-flavored taste of their concentrates. Since its trial launch on Namaste's Canadian sites, the Shatterizer has received a 4.9/5 star consumer review score and has proven itself to be very popular with Namaste's customers.
- Terms of the Agreement:
- Namaste will retain exclusive rights to sell Shatterizer products in international markets.
- Namaste will offer Shatterizer products across its entire platform and stock inventory in its international warehouses.
- Namaste will adhere to all minimum advertised prices (MAP) set forth by Shatterizer.
- Shatterizer will provide Namaste's customer service and sales team with training information and support
- Shatterizer will provide warranty support for Namaste's customers in domestic and international markets.
Namaste anticipates an accelerated demand for cannabis oils and pre-filled cartridges and intends to use its hardware expertise to produce specifically formulated cannabis oil for pod-based vaporizer systems through Infinite Labz. Pre-filled cartridges and pods provide a very simple, discrete and effective means for consuming cannabis oils and extracts. Being the largest international online retailer of vaporizers, Namaste has the unique opportunity to capture early market share of this very significant component of the cannabis industry in the Canadian market. The Company will focus on production of high-quality cannabis oils with healthy margin to be sold through both recreational and medical sales channels. Namaste's expertise with cannabis hardware and devices will provide a competitive edge in securing its position in this segment of the market.
Matthew Zysman, President and CEO of Shatterizer comments; "We are thrilled to announce this international distribution deal with Namaste. We are pleased to see how successful we've been on their platform and are excited to see this relationship grow. We at Shatterizer are firm believers that the future of the cannabis industry is in extracts and have built our business around this belief. Shatterizer has quickly become a popular brand amongst cannabis extract enthusiasts, and we are working hard daily to continually surpass our customer's expectations. This is why we are also thrilled to announce that will be working with Namaste on our new pod-based cannabis vaporizer system in the Canadian market. We are excited to expand our relationship with Namaste, who has shown such great leadership in the cannabis industry and feel that they are the right partners to help us take the Shatterizer brand to the next level."
Sean Dollinger, President and CEO of Namaste comments; "We are very pleased to have entered into this distribution agreement with Shatterizer. We have been big supporters of the Shatterizer brand and are excited to collaborate on these initiatives. We believe that the company's management team have a keen sense for market demand and we are aligned in terms of our outlook for the cannabis concentrate market. Our goal with Infinite Labz is to not only produce cannabis extracts but to also provide filling and distribution for pod-based vaporizer systems in which we anticipate seeing an increasing demand for the recreational cannabis market. We look forward to working with Shatterizer as they anticipate launching a new pod-based vaporizer platform in the near future. Namaste will continue to focus on securing similar strategic partnerships with innovative companies to service both recreational and medical cannabis markets."