Namaste Extends Stake in Cannabis Provider Pineapple Express

Cannabis e-commerce company Namaste Technologies has announced its entrance into a share purchase agreement of an additional 34% equity stake in Pineapple Express Delivery, a same-day cannabis delivery provider in Canada, according to a Dec. 17 press release. Namaste previously acquired shares from Pineapple Express in June 2018, and it now owns 49% of the latter company’s outstanding common shares.

The purchase agreement cost Namaste C$3.06 million, and it has the right to buy an additional 10% stake. As a result of the deal, Namaste’s CEO Sean Dollinger will be appointed to Pineapple Express’ board of directors, but that company’s management team will retain financial and operational control.

According to the press release, “Namaste’s goal is to evolve the current landscape for online retail cannabis products by improving the user experience.”

The e-commerce platform consists of more than 30 websites in more than 20 countries under various brands. — Transport Topics

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Namaste Technologies Recent Revenue Results Dazzle

In this market news, Namaste Technologies Inc. (TSXV:N), one of the Canadian marijuana stocks, said its unaudited gross revenue for November was over $2.6 million

SmallCapPower | December 10, 2018: Namaste Technologies Inc. (TSXV:N), one of the Canadian cannabis stocks, announced recently that it generated record-breaking unaudited gross revenue of over $2.6 million in November 2018 across its global online platform, signifying ~52% growth from October 2018 and ~30% growth year-over-year after excluding U.S. revenue derived during the month of November 2017. The Company expects strong top line growth in December and into the New Year after a successful Black Friday through Cyber Monday holiday weekend.

For Our Complete Coverage Of Canadian Marijuana Stocks Click Here   

Revenue in November was derived via Namaste’s global platform on the back of the sale of vaporizers and smoking accessories. The Company is laying emphasis on cannabis sales via its wholly-owned subsidiary Cannmart Inc., which received Canada’s first medical cannabis sales-only license issued to a non-cultivator and is an online marketplace where medical patients can buy medical cannabis sourced from a variety of producers across Canada. Namaste Technologies is expanding its offerings through Cannmart and expects building and upgrading its platform for representation of diverse high-quality cannabis products.

 

Recently, Cannmart launched same-day delivery within the Greater Toronto Area through its partners at Pineapple Express Delivery Inc., which has received positive feedback from its patients. Also, Cannmart launched pre-rolled cannabis products in its platform and will be adding cannabis oils in the near future. Post the acquisition of Buds2go.ca by Cannmart, the Company intends to launch a second online platform. Namaste Technologies is keen on securing supply channels via future micro-cultivators, subject to regulations, and aims to provide a largest variety of craft cannabis products through Buds2go.ca.

Subject to approval by Health Canada, Namaste Technologies is looking to import medical cannabis to the Canadian market through strategic supply agreements with international cultivators who are certified Good Manufacturing Process (GMP). By leveraging its online platform and more than 1.5 million consumers globally, the Company is well-positioned for long-term growth within the cannabis industry.

Namaste Technologies President and CEO Sean Dollinger said, “We are very excited to report record-breaking revenue for the month of November. This is the busiest season for e-commerce companies around the globe, and we’re proud to be a leader in the cannabis e-commerce and technology space. By expanding our medical cannabis platform through Cannmart, we anticipate strong growth in cannabis sales and hope to see cannabis revenue surpass our hardware sales in 2019. This anticipated growth, along with our hardware business which continues to expand, will make 2019 an exciting time for Namaste.”

Namaste Technologies operates the largest cannabis e-commerce platform across the globe with over 30 websites in more than 20 countries under various brands. The product offerings via its subsidiaries include vaporizers, glassware, accessories, and CBD products. Namaste Technologies stock trades at a market capitalization of $384 million with a price-to-book multiple of 5.17x and a price-to-sales multiple of 19.86x.

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Namaste Announces Binding Agreement to Acquire an Additional 34% Equity in Pineapple Express Delivery for 49% Total Ownership

December 17, 2018 by Namaste Technologies

Vancouver, British Columbia, Canada – Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) is pleased to announce that the Company has entered into a share purchase agreement (the “Agreement”) to acquire common shares in Pineapple Express Delivery Inc. (“Pineapple Express”) and an affiliated entity, representing an additional 34% equity in exchange for such number of common shares of Namaste having an aggregate value of approximately $3.06 Million (the “Transaction”). Upon completion of the Transaction, Namaste will own 49% of the outstanding common shares of Pineapple Express.

Namaste’s Agreement with Pineapple Express supports the Company’s strategy to invest in innovative companies which bring value to the Company and to the broader market. Namaste believes that same-day delivery for medical and recreational cannabis through Pineapple Express’ platform will provide patients and consumers with added-value and the Company looks forward to the expansion of the platform across Canada.

As reported in the Company’s June 13, 2018 news release, Namaste entered into a subscription agreement to acquire 15% of the issued and outstanding shares of Pineapple Express (the “Subscription Agreement”). Under the terms of the Subscription Agreement, Namaste has the right to acquire an additional 10% of the common shares of Pineapple Express for a period of 14 months (the “Option”). Pineapple Express offers a same-day delivery service platform for medical and recreational cannabis to licensed producers across Canada.

Highlights of the Transaction:

  • Namaste will issue shares in accordance with the Agreement, based on the closing price on the TSX Venture Exchange on Friday, December 14th, 2018.

  • Pineapple Express management team retain financial and operational control of the business.

  • Namaste’s CEO Sean Dollinger will be appointed to Pineapple Express’ board of directors.

  • The Transaction is subject to the receipt of certain stock exchange approvals and the satisfaction of other conditions customary in transactions of this nature.

Pineapple Express is a same-day delivery platform for medical cannabis and has launched services in Manitoba and Ontario, with plans to expand into other provinces. Namaste’s wholly-owned subsidiary, Cannmart Inc. (“Cannmart”) has also recently launched same-day delivery services to its patients through Pineapple Express. The Company has been pleased with the initial roll-out of Pineapple Express delivery services and its management team who will continue to operate as an independent entity from Namaste and in offering its services to Licensed Producers across Canada.

Namaste remains focused on developing and acquiring leading technology platforms that bring value to the cannabis industry. This Agreement represents a significant milestone for the Company in diversifying its investments in innovative companies, while at the same time having the ability to offer valuable services for its medical patients. Namaste’s goal is to evolve the current landscape for online retail cannabis products by improving the user experience. The Company will continue to seek opportunities to develop and invest in innovative technology platforms and in expanding its offering in Canada and internationally.

Management Commentary:

Randy Rolph, President and CEO of Pineapple Express comments: “We are extremely excited to be deepening the relationship between Pineapple Express and Namaste. Our management team and I look forward to having Namaste support our vision for the future development of the company. We’re confident that our same-day delivery platform will offer value to both medical patients and recreational consumers across Canada.”

Sean Dollinger, President, and CEO of Namaste comments: “We’re pleased to announce adding to our position in Pineapple Express, an innovative company with a strong management team focused on providing exceptional service. We are now offering same-day delivery services in Toronto through Pineapple Express and are looking forward to their expansion throughout Canada. We believe strategic investments in technology and service companies like Pineapple Express will drive innovation and provide long-term value for the Company. I’m also personally looking forward to joining Pineapple Express’ board of directors and in offering value to their team.”

About Pineapple Express Delivery Inc.

Pineapple Express’ management team has over 10 years of experience offering same-day 60-minute delivery services in multiple industries across Canada, and has successfully integrated with Ample Organics Inc., Canada’s leading seed-to-sale medical cannabis software platform. Pineapple Express offers a personalized experience for its to facilitate same-day delivery of medical cannabis across the country. Pineapple Express is dedicated to providing patients with a fully integrated, simple to use, same-day delivery platform which it believes brings great value to medical patients across the country. For more information visit: www.pineappleexpressdelivery.ca

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 medical cannabis in the Canadian market through its licensed affiliate, CannMart.com. Namaste has developed and acquired innovative technology platforms including NamasteMD.com, a telemedicine application which facilitates online consultations for medical cannabis, 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 through 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.

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Namaste Technologies takes 49% stake in Pineapple Express Delivery

2018-12-17 09:18:00

Namaste's subsidiary Cannmart, which sells medical cannabis, has already launched same-day services to patients via Pineapple Express

Earlier this year, Namaste took a 15% stake in Pineapple

Namaste Technologies Inc (CVE:N) (OTCMKTS:NXTTF) is acquiring a 49% stake in Pineapple Express Delivery Inc, a company that offers a same-day delivery service platform for medical and recreational cannabis to Canadian licensed producers.

Under the terms of the deal, the Vancouver-based cannabis company will take shares in Pineapple Express Delivery and an affiliated entity, which represents an additional 34% equity stake in exchange for shares of Namaste having an approximate value of $3.06 million.

READ: Namaste unit may buy up to C$100M of medical cannabis from Agraflora Organics annually

After the deal is completed, Namaste, which earlier took a 15% stake in Pineapple, will own just under half of the shares of Pineapple Express.

Namaste’s wholly-owned subsidiary Cannmart Inc has already recently launched same-day delivery services to its patients via Pineapple Express.

“We are now offering same-day delivery services in Toronto through Pineapple Express and are looking forward to their expansion throughout Canada,” said Namaste CEO Sean Dollinger in a statement. “We believe strategic investments in technology and service companies like Pineapple Express will drive innovation and provide long-term value for the company.”

READ: Namaste Technologies to open cannabis cafés and launch H.E.A.L. health foods

After the investment, Pineapple Express’s management team will keep hold of the financial and operational control of its business. And Namaste CEO Sean Dollinger will be appointed to Pineapple’s board of directors.

Namaste operates a global cannabis e-commerce platform and boasts over 30 websites in over 20 countries under various brands. Namaste’s product offerings via its subsidiaries include vaporizers, glassware, CBD products and medical cannabis in the Canadian market through CannMart.com.

Pineapple Express, meanwhile, provides medical marijuana patients with a fully integrated, same-day delivery platform.

Namaste shares dipped 0.8% to C$1.22 in Canadian trading on Monday morning.

Contact  Ellen Kelleher at ellen@proactiveinvestors.com


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Namaste Technologies acquires additional equity in Pineapple Express Delivery

By Laura Kuhl

DEC 18, 2018

Namaste Technologies Inc. (TSXV:N) (OTCMKTS:NXTTF) announced a new share purchase agreement with Pineapple Express Delivery Inc. on Monday. Per the agreement, Namaste will officially own 49 percent of the common shares of Pineapple Express. Namaste initially announced the first subscription agreement with Pineapple Express in June. However, the new agreement, announced December 17, permits the company to acquire an additional 10 percent of the shares within the next fourteen months if they wish to do so.

Even though they acquired nearly half of the shares in Pineapple Express, Namaste will not control the finances or operations of the company. The Pineapple Express management team will retain control of the company while Namaste CEO Sean Dollinger will be appointed to the company’s board of directors.

[Sen. Gardner introduces new cannabis legislation for the states]

“We believe strategic investments in technology and service companies like Pineapple Express will drive innovation and provide long-term value for the Company,” Dollinger added in yesterday’s announcement. “I'm also personally looking forward to joining Pineapple Express' board of directors and in offering value to their team.”

According to a statement, Namaste’s business focus remains on developing a leading technology platform for the cannabis industry. The company already operates a considerable cannabis e-commerce platform with over thirty websites to their name, and they started utilizing Pineapple Express’ same-day delivery platform through their subsidiary CannMart earlier this year.

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Namaste Technologies@Namaste_Tech

Namaste announces binding agreement to acquire an additional 34% equity in Pineapple Express delivery for 49% total ownership. Read more now http://fal.cn/rr2f #PineappleExpress #NextDayDelivery #CannabisDelivery #MedicalCannabis #TorontoCannabisCommunity

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Namaste launches Namaste Cafe

Namaste also announced the launch of a new retail concept for cannabis this month. The appropriately-named Namaste Cafe is a new element in Namaste’s plans for retail expansion. They will be education-focused, teaching consumers responsible ways to consume cannabis, while offering coffee, vaporizers, and the H.E.A.L. brand of edible products.

H.E.A.L., which stands for Health Eating and Living, will be launched alongside the new cafe, with online content that includes educational videos as well as cooking videos with recipes and ingredient lists for consumers to follow easily. According to the press release, H.E.A.L. is enlisting their CEO Pete Evans to host a few videos. Not all of H.E.A.L.’s products will be infused with cannabis, but Namaste does plan to release cannabis edibles and concentrates through H.E.A.L. per Canada’s upcoming regulations regarding that side of the industry.

[Cannabis news briefs: Powerful coalition calls for federal reforms, the US Senate may have enough votes to pass cannabis banking reform, and more]

“We are looking forward to entering this exciting space with an industry leader like Namaste; we look forward to providing value not only from an educational perspective but also in offering a high-quality product that we can all be proud of,” Pete Evans said in the press release. “Having spent many years in the food industry and understanding the value of Cannabis for medical purposes, we are very much looking forward to launching this exciting project.”

The content Namaste is creating with their new brand, and their new cafe will all be a piece of their elaborate online concept. On top of carrying all of Namaste’s products, Namaste Cafe’s will also provide interactive learning opportunities for patrons through their online portals and seminars. The first store is projected to open early next year, and investors should be on the lookout for the location of the flagship store. The flagship announcement will be made within the next sixty days, per the company’s December 5 press release.

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Pineapple Express Delivery Inc and BudTender Announce Strategic Partnership

NEWS PROVIDED BY

BudTender 

TORONTO, Jan. 4, 2019 /CNW/ - Pineapple Express Delivery Inc ( Pineapple Express ) and BudTender are proud to announce a first of its kind software partnership. In exchange for a granted 10% investment stake in BudTender, Pineapple Express Delivery Inc will partner with the company to help them develop and grow their business model in Canada. BudTender, which is the cannabis industry leader in customer experience software will integrate directly with Pineapple Express Delivery to offer the most robust understanding of the customer journey.     

BudTender Features
- Seamless Integration with Pineapple Express Delivery 
- Monthly Customer Experience Analysis Report
- Interactive Dashboard 
- Proprietary SMS System With Questions Tailored to the Customer Response

Management Commentary
Jake Crow, CEO of BudTender "We're incredibly excited about working closely with Pineapple Express to expand BudTender throughout Canada. Partnering with Pineapple Express, which is the leader in the same day delivery space in Canada is a huge milestone for our company. Randy and the team at Pineapple Express have put a large focus on both the customer experience and providing in-depth security protocols and we're happy to provide an additional layer of support."

Randy Rolph, CEO Pineapple Express Delivery Inc " We are extremely happy to be integrating with BudTender to provide a truly unique and comprehensive customer experience and support package to our clients and partners. At every step of the way we have striven to provide top quality and completely unique service to this sector through our setup, technology and security measures and this partnership will ensure that our customer experience and support will be second to none ."  

About BudTender 
BudTender is the cannabis industry-leading customer experience platform, focused on improving the customer journey. The platform features customer experience software, which allows retailers to interact with customers post-purchase and better understand their entire experience. The BudTender platform has processed more than 20,000 unique responses and is trusted by retailers in five US states and Canada. www.trybudtender.com

About Pineapple Express Delivery Inc
The Pineapple Express Delivery Inc. management team has over 10 years of experience offering same-day 60- minute delivery services in multiple industries across Canada with a record breaking 40,000 deliveries per month. 

Pineapple Express Delivery Inc. offers a personalized experience for its customers and has established in depth security and delivery protocols to facilitate same-day delivery of medical cannabis across the country. Pineapple Express Delivery Inc. is dedicated to providing patients with a fully integrated, simple to use, same-day delivery platform which it believes brings great value to the medical patients across the country. For more information visit: www.pineappleexpressdelivery.com

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INDUSTRIAL HEMPNamaste Technologies Inc (OTCMKTS:NXTTF) Enters Into a Pact to Take Over An Additional 34% Stake in Pineapple Express Delivery


Namaste Technologies Inc (OTCMKTS:NXTTF) has announced signing a definitive accord to acquire an additional 34% stake in Pineapple Express Delivery. The total ownership of Namaste in Pineapple Express Delivery will become 49%. The deal is valued at common shares of Namaste worth $3.06 million.

Following the takeover of 49% stake in Pineapple Express Delivery, the company is in a position to pump in funds in companies that add more value and helps to contribute to the broader market. Acquisition of additional stake in  Pineapple Express Delivery allows the company to ensure same delivery of recreational and medical cannabis to the consumers and patients alike.

Pineapple Express is engaged in ensuring same day delivery of recreational and medical cannabis to all the licensed Canadian producers. As mentioned in the June 13, 2018 release of the company, Namaste signed a subscription accord to take over 15% of the outstanding and issued shares of the Pineapple Express Delivery.

The next big cannabis story to hit North America is Phoenix Life Science International (PLSI), traded in the US, but with the largest global production based in the tropics and a license to distribute worldwide. Take a look at Phoenix Life Science International PLSI), Its currently trading under $18 dollars per share on the OTC markets. Learn More Now!

Details of the Transaction

The closing price of the shares of Namaste on TSX Venture Exchange on December 14, 2018, will be considered for the issue of shares. Following the deal, Sean Dollinger, Chief Executive Officer of Namaste will be inducted into the board of directors of Pineapple Express. The operational and financial control of the business will be retained with Pineapple Express. The deal is subject to the approval of stock exchange.

Pineapple Express Launches Delivery Service in Ontario and Manitoba

Pineapple Express has introduced same day delivery of medical cannabis in Ontario and Manitoba. The company is also planning to expand the services into other provinces. Cannmart Inc., a wholly owned subsidiary of Namaste, has also launched same day delivery services with the help of Pineapple Express.

Agraflora Organics International Inc (OTCMKTS:PUFXF) Issues an Update to the Supply Accord with Namaste Technologies

Further to the supply accord Agraflora Organics International Inc (OTCMKTS:PUFXF) has entered into with Namaste Technologies today, Agraflora is issuing an update. The propagation Services Canada, a unit of Agraflora, will supply medical cannabis products to Cannmart Inc. The deal is subject to the approval of sales and cultivation licenses by Health Canada.

Pushing the barriers for global distribution, Phoenix Life Science International (PLSI) is the next cannabis play. Just think Canopy x 100, that is how big their plantation in the tropics will be. No lights, no green houses, just maximum growth + minimal cost = home run. Learn More Now!

Pineapple Express Delivery Inc. announces the engagement of Cannabis Management Resources Inc.

Pineapple Express Delivery Inc. announces the engagement of Cannabis Management Resources Inc.

Pineapple Express Delivery Inc. is excited to announce the engagement of Cannabis Management Resources Inc. (CMR North) to a long-term contract. This will facilitate the rapid scaling and business strategy required to meet the needs of the ongoing medical and soon to be recreational cannabis same day delivery markets nationally.

Namaste Announces Signing of 15% Equity Acquisition of Same-Day Cannabis Delivery Platform, Pineapple Express Delivery Inc.

Namaste Announces Signing of 15% Equity Acquisition of Same-Day Cannabis Delivery Platform, Pineapple Express Delivery Inc.

Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV: N)(FRA: M5BQ)(OTCMKTS: NXTTF) is pleased to announce that further to its April 25th, 2018 announcement of a Letter of Intent with Pineapple Express Delivery Inc., the Company has signed a Subscription Agreement (the “Agreement”) to acquire 15% of the share capital of Pineapple Express Delivery Inc. for  $1,000,000.