Namaste Technologies Inc. (TSXV:N) is granted exclusive rights to the commercialization of Inolife’s needle-free technology
SmallCapPower | May 29, 2018: Namaste Technologies Inc. (TSXV:N) announced recently that it has signed a definitive agreement with Inolife R&D Inc., by which Namaste is granted exclusive rights to the commercialization of Inolife’s innovative needle-free technology for applications of medical cannabis, as per Health Canada regulations. This is post the Letter of Intent (LOI) between two parties dated March 28, 2018.
For Our Complete Coverage Of Canadian Marijuana Stocks Click Here
Namaste Technologies plans to produce medical cannabis oil through its partnership with Infinite Labz Inc. and to specifically formulate oil for use with Inolife’s injector technology. The Company expects that needle-free injection of cannabis oils can be one of the effective means of dosing through a painless device, with a fast absorption rate. Both Namaste and Inolife will work together to develop standardized production procedures for oil production as well as for testing purposes in order to commercialize the technology in accordance with federal regulations.
Read: Canadian Cannabis Stocks That Are Top Takeover Targets
Namaste Technologies President and CEO Sean Dollinger remarked, “We are very excited to have signed the definitive agreement with Inolife. We are focused on partnerships with companies with innovative technology, and Inoflie’s technology could revolutionize the way medical patients with severe conditions are able to meter accurate doses of cannabis in a safe, effective and pain-free way. We anticipate that upon commercialization, Namaste will be able to leverage its relationships to produce pre-filled injectors with medical cannabis. I’m very pleased to be joining Inolife’s board of directors and hope to offer value to their team. We feel strongly that our investment and partnership with Inolife will create strong, long-term value for both companies and their shareholders.”
Also, Namaste Technologies is participating as the lead order in a non-brokered private placement offering by which Namaste will purchase 2,000,000 units of Inolife, issued at a price of $0.10 per unit. Each unit consists of one common share and one-half of one common share purchase warrant, with an exercise price of $0.20 per full warrant for a period of 24 months from the private placement closing date. As part of the agreement, Inolife has appointed Namaste Technologies CEO Sean Dollinger to its executive board of directors.
Namaste Technologies currently trades at a market capitalization of $404.61 million on the TSXV. Through this partnership, Namaste’s valuation could rise once the technology is commercialized.
Disclosure: Neither the author nor his family own shares in the company mentioned above.
To read our full disclosure, please click on the button below:
