In late September, Aurora Cannabis Inc. (ACB.TO) (ACBFF) and Namaste Technologies Inc. (N.CN) (NXTTF) formed a partnership and the Canadian cannabis companies have been executing on this initiative.
Today, Aurora and Namaste reported to have commenced sales through Aurora’s website and mobile application under the exclusive hardware supply agreement.
A Partnership that is Already Proving to be Fruitful
This relationship is already proving to be fruitful and during the first three days, Aurora received more than 200 orders.
This partnership is beneficial to both companies. It is extremely significant for Namaste and represents a major milestone since the company has aligned itself with one of the world’s largest and most diversified medical marijuana producers.
Aurora has benefited from this relationship as it has been able to significantly expand it’s product offering. Through this collaboration, the licensed Canadian medical marijuana producer will be able to better capitalize on the trend toward smokeless cannabis products and is now able to provide this growing segment of the cannabis market with a broader and more diversified product offering
Namaste anticipates that the collaboration with Aurora will result in additional revenues, and will continue to work with Aurora in expanding the current product offering and adding further value to Aurora’s medical patients.
An Attractive Opportunity
Namaste is a technology leader in the online sale of ancillary hardware products for the cannabis market, and offers a customer experience that meets the Aurora Standard for sales and customer service.
We are favorable on today’s announcement and expect to see the market respond in a positive manner. While we are bullish on this relationship for both companies, we expect Namaste to see the greatest benefit.
If you look at other companies that have partnered with or received an investment from Aurora Cannabis, you can see that the stocks have responded extremely well. If this relationship proves to continue to be profitable for Aurora, we would not be surprised if the company made an investment into Namaste.
Both companies are focused on the Australian cannabis market and we expect to see this relationship gain significant traction with Aurora’s medical marijuana patients.
Source: Technical 420