Aurora Cannabis Inc (OTCMKTS:ACBFF) and Namaste have finalized a non-exclusive, non-binding, Letter of Intent to close a final “Consultation Agreement”, whereby Namaste will offer patient referral services to the former firm, where applicable under Canada’s ACMPR regulations.
The deal further strengthens the association between Namaste and Aurora, who already are associated on e-Commerce, sale of Namaste-sourced, curated assortment of vaporizers via Aurora website, using Namaste’s technology platform, and the distribution operations of BC Northern Lights products. Once done, the new agreements will offer Namaste with recurring revenue source through the private label base, while Aurora will be the sole licensed producer able to provide Namaste`s streamlined web patient acquisition platform under CanvasRx brand.
Terry Booth, the CEO of Aurora, reported that NamasteMD offers an efficient and innovative extension to their industry-leading in-person cannabis education and counseling services offered through CanvasRx. Their new platform will allow them to extend their industry major patient care to regions where they presently have no physical presence.
This will allow enable to use the strength of both the Aurora and CanvasRx brands, without needing to commit to considerable investments in retail facilities. Namaste is a reliable associate with whom they already successfully associate on two promising initiatives, and they look forward to extending their association depending on customer care excellence and innovation.
Sean Dollinger, the CEO and President of Namaste, expressed that they are excited to have Aurora Cannabis, the industry’s most dynamic and innovative Licensed Producer, as their preferred strategic associate. Their drive to innovate fulfills the cannabis market’s requirement for reliable technological solutions to enhance operational efficiencies and increase the customer experience. They are extremely delighted to be aligned with Aurora Cannabis’ team, and look forward to implementing on their ongoing collaboration.
In the last trading session, the stock price of Aurora gained more than 1% to close the day at $10.61.