Namaste Technologies Inc. (NXTTF) Announces Definitive Agreement to Commercialize Needle-Free Injector Technology

Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV:N.V)(M5BQ.F)(NXTTF) is pleased to announce that further to the Letter of Intent (“LOI”) dated March 28 ^th, 2018, the Company has signed a definitive agreement (the “Agreement”) with Inolife R&D Inc. (“Inolife”), whereby Namaste is granted exclusive rights to the commercialization of Inolife’s innovative needle-free technology for applications of medical cannabis, in accordance with Health Canada regulations.

Namaste intends to produce medical cannabis oil through its partnership with Infinite Labz Inc. (“Infinite Labz”) and to specifically formulate oil for use with Inolife’s injector technology. The Company believes that needle-free injection of cannabis oils could prove to be one of the most effective means of dosing through a painless device, with a fast absorption rate. Namaste will work with Inolife’s management team to develop standardized production procedures for oil production, and for testing or studies required to commercialize the technology for applications of medical cannabis in accordance with federal regulations.

Namaste is also pleased to announce that the Company is participating as the lead order in a non-brokered private placement offering (“Private Placement”), whereby 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. Inolife has also chosen to appoint Namaste’s CEO Sean Dollinger to Inolife’s executive board of directors. Namaste’s management team believes that Inolife’s needle-free technology can offer significant long-term value for the medical cannabis market.

Key Terms of the Agreement

• Namaste shall have and retain exclusive rights to the procurement and/or production of the oil required to meet the requirements and standards set out and outlined in the testing, studies, and evaluations of the products in accordance with Health Canada and/or any other regulatory agency requirements.
• During the term of the Agreement, further testing, studies, and evaluations may be required by a regulatory agency or third party that may be interested in utilizing the needle-free injectors for the commercial use in the medical cannabis industry.
• During the term of the Agreement, Namaste and Inolife must agree on who will conduct the testing, studies, and evaluations of the needle-free injectors.
• The purpose of testing, studies, and evaluations of the needle-free injectors shall be primarily to determine the method on how to best produce medical cannabis oil that would be suitable for needle-free injection.
• The Agreement shall extend to any future technology and implementations of the Inolife products, such as needle-free injectors using Inolife’s powder-based system.

Management Commentary

Michael Wright , President and CEO of Inolife comments, “The relationship between Inolife and Namaste heralds a new era for the medical cannabis industry. We’re pleased to see the opportunities for our innovative needle-free device technology to be used to deliver cutting-edge treatment from medical cannabis. Our commitment to improving quality of life for patients remains at the forefront of all our endeavors and we feel that Namaste will be an excellent partner.”

Sean Dollinger , President, and CEO of Namaste comments; “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.”

About Inolife R&D Inc.

Inolife R&D Inc. is an emerging, specialty medical device company focused on developing and commercializing self-administered medical products using novel drug delivery technologies. The company was founded to take advantage of novel techniques of liquid jet and ballistics-based epidermal drug injection. We believe this technology will improve a patient’s quality of life by making medicines more effective and easier to self-administer, and that it will also eliminate the anxiety and inconvenience associated with hypodermic needle injections.