Namaste Technologies Inc. (TSXV:N) (OTCQB:NXTTF) is one of the few companies operating in the e-commerce cannabis space. Through its flagship platform, CannMart, the company owns more than 30 websites in over 20 countries under a variety of brands.
Last week, Rich profiled the company. Today, he welcomes Namaste’s Chief Technology Officer, Chad Agate, to RichTV Live.
Chad has 20 years of experience building disruptive technology businesses, leading technical teams, and product life-cycle management. Prior to joining Namaste Technologies, he was founder and co-founder of three tech-based start-ups, servicing mid-market and enterprise firms.
Namaste’s Agreement with Premium Cannabis Brand House
Chad is on hand to discuss Namaste’s recently signed agreement with TREC Brands Inc. TREC is a global cannabis brand house that’s joined forces with CannMart to bring high quality products to TREC’s customer base.
These products will be offered under the WINK cannabis brand. The deal is likely to drive revenue for both companies as Cannabis 2.0 draws near.
“We know this is the next phase of cannabis,” Chad says. “Our engagement with TREC allows us to provide a greater selection to customers.”
Chad goes on to say that, as a greater variety of cannabis products begin to hit shelves, consumers will become less interested in dried flower. This, he argues, will cause the public to see cannabis as a consumer-packaged good.
“People will want very specific products with very specific dosage and ingredients,” he explains. “And that’s where Namaste Technologies really sets itself apart. We are in the middle of these transactions.”
Chad also discusses Namaste’s partial ownership of Pineapple Express.
In March, the company completed its acquisition of 49% of the Toronto-based Pineapple Express Delivery Inc. Namaste is still pursuing ownership of a further 34%.
Meni Morim, Interim CEO of Namaste Technologies, said of the acquisition:
“The acquisition of the shares of Pineapple Express is an important component in Namaste’s growth strategy and customer service platform, and shows follow-through, as we continue to operate business as usual and moving forward. Having Pineapple Express as part of our family is an efficient way to get medicinal cannabis to customers in the Greater Toronto Area and across Canada as quickly and efficiently as possible.”
“We’ve heard very good feedback from customers about what we’re doing with Pineapple Express,” says Chad.
Namaste Technologies Forecast
In the near-term future, Chad says Namaste will focus on same-day delivery and building out its marketplace applications.
“We’ve invested heavily in our core technology base,” he says.
He specifically references Uppy, Namste’s AI-driven medical cannabis app. Uppy has the capacity to help consumers pick out the cannabis strain that’s best-suited for their needs. As the market becomes increasingly saturated with products, this will likely have a major impact on consumer preferences.
What do you think? Is Namaste providing solutions that the industry needs? Will e-commerce become the future of cannabis? Let us know your thoughts.
If you liked this interview, check out Rich’s recent video with Halo Labs (OCTQX:AGEEF) CEO Kiran Sidhu.
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