Canopy Growth Corporation has entered into a memorandum of understanding (MOU) with Namaste Technologies Inc., a vaporizer and accessories business with 26 e-commerce retail stores in 20 countries. The MOU is meant 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 upwards of 600,000 site visits monthly. Approximately 28,000 of these monthly site visits are generated from customers in Canada.
The purpose of the MOU is to define the intention of Namaste and Canopy to expand their respective market positions by seeking to form multi-point working arrangements and exploring the development of new delivery devices for the consumption of cannabis. Pursuant to the terms of the MOU, 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 multi-function working group of Namaste and Canopy.