Aurora Cannabis (TSX:ACB) (OTCQX: ACBFF) today announced an exclusive hardware agreement with Namaste Technologies (CSE: N) (OTCMKTS: NXTTF) in which Aurora, a large medical cannabis cultivator and retailer, through its website and mobile app, will offer Namaste’s medical grade vaporizers throughout Canada.
Through this agreement, they will offer same day delivery of vaporizers to Aurora customers in the Greater Toronto area—with nearly 6.5 million people—and next day delivery across the rest of Canada.
Terry Booth, CEO of Aurora said, “The global cannabis markets are showing increasing momentum towards smoke-free options, and we are excited to meet this growing demand… while requiring no capital outlay on our part.” It is also an “important element in our strategy to position Aurora for the adult consumer market, strengthening our brand in preparation for legalization in 2018.”
Aurora operates a 55,200 sq ft production facility in Mountain View County, Alberta, is constructing an 800,000 sq ft production facility at the Edmonton International Airport, and is completing a third 40,000 sq ft production facility in Pointe-Claire, Quebec, near Montreal.
Namaste has 26 ecommerce retail stores in 20 countries. It offers the largest range of brand name vaporizers products, and is entering new markets globally.
Aurora closed the day at $2.76. The stock is up 13% on the month and 104% on the year. It has a market cap of $1.02 billion.
Namaste was unchanged on the day, closing at $0.195. After trading between $0.08 and 0.29 over the year, it has recently shown stability between $0.15 and 0.20.
Source: Aurora press release