Namaste Technologies, Integrating Marijuana Paraphernalia with Medical Devices
Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE: N) (FRA: M5BQ) (OTCMKTS: NXTTF) is a marijuana stuff company with a market capitalization of roughly $432.602 million. While not a huge company, as paraphernalia companies go they are quite big. Mainly locateded in Toronto, Canada, they operate e-commerce retail stores in twenty various countries and you might have heard of their top seller and included vaporizer, Guru. They likewise offer Namaste Vapes, Grizzly Originals, Vape Chatter, VaporSeller, and Groovy Vapes brand names. The big news from Namaste is that they are now aiming to enter the medical gadget service, mainly needle-free injectors for cannabis, with Inolife R&D Inc (OTCMKTS: INOL), a publicly traded cent stock with a market capitalization just over $12,000.
You can see that Namaste dealt with the remainder of the marijuana sector of the marketplace previously this year. While it did break its 50 dma, it still held well above its 200 dma. Currently the 50 dma will probably serve as resistance. Stuff is considered to be a sleeping market that has the ability to become massive and Namaste is sitting in a good position to be a real leader. If Dodd-Frank restrictions put in location back in 2010 are rolled back and an amendment is included that would open the doors to banking for the cannabis market, that must be a genuine stimulate for the overall cannabis industry and the marketplace as a whole.
Namaste Technologies Inc. is pleased to reveal that it has signed a non-binding LOI with Inolife R&D Inc. (“Inolife”), whereby Namaste and Inolife will work out the regards to a conclusive arrangement (the “Agreement”) to start a research study to evaluate applications for Inolife’s proprietary needle-free injectors in the medical marijuana market. Under the terms of the LOI and proposed Agreement, Namaste will hold unique rights to research study and distribute Inolife’s needle-free injection innovations for applications in the cannabis industry. Namaste will likewise participate in Inolife’s awaited private positioning by getting as much as 10% of the shares released under the offering. Inolife will also provide Namaste with the right to get as much as an extra 10% of the shares provided under the offering at the same cost. Additionally, Namaste will purchase up to 10% of the shares provided in connection with Inolife’s go-public transaction for approximately $250,000. Namaste believes that Inolife’s needle-free innovations could change dosage and administration of marijuana for medical purposes.
Michael Wright, President and CEO of Inolife comments, “We’re really excited about the proposed partnership with Namaste. We feel that Namaste is finest placed to deliver on our strategic plan to become an innovator of shipment systems for the medical cannabis industry. We’re pleased to be the first company, in partnership with Namaste, to check out needle-free gadget innovation in the context of medical marijuana delivery.”
Drug stuff laws have actually kept the glass bowl, bong and papers market in-check for a long time since they are still lumped in with other gadgets for more illegal drugs. The drug paraphernalia statute, Code Title 21, Section 863 lays out the law, but possibly with the legalization movement, items likes smoking cigarettes gadgets for cannabis use will be omitted ultimately.