As key terms in the agreement, Namaste has been approved as the preferred global online retailer and digital affiliate marketing partner for Phivida’s product line of premium hemp-derived Cannabidiol (“CBD”) infused functional beverages and clinical health products. The agreement includes a global online territory, targeting the launch in Germany and Australia (the “Territories”).
Phivida CBD beverages, extracts, juices and shots are professionally formulated by health care practitioners, made with premium ingredients, tested for quality, safety and manufactured to GMP standards. This Agreement represents a strategic initiative between both companies to promote high quality CBD products through Namaste’s platform and to the Company’s existing databases of users within the Territories. CBD is a cannabinoid compound which can be derived from both cannabis and hemp plants and plays a vital role in the emerging global medical cannabis market.
With Phivida’s management team having a strong background from the beverage industry and branding, including former senior executives from Redbull, Proctor and Gamble and McKesson’s, Namaste is pleased to be able to offer Phivida’s premium CBD beverages and infusions to its patients and practitioners globally, with an initial launch in Australia and Germany.
Terms of the Agreement
- Namaste has exclusive rights for online retail of Phivida’s products in the Territories
- The Agreement is valid for a 24-month period
- The Agreement payment terms are net 30 days
- Namaste shall be responsible for delivery costs
- Namaste will under no circumstance retail PHIVIDA products for a price that is less than the regular retail price at which the products are advertised on PHIVIDA’s website
- The Agreement states that all online product marketing expenses within the Territories will be shared equally between PHIVIDA and Namaste
- The Agreement is subject to obtaining a legal opinion from a designated legal firm, agreed to by both parties
Namaste’s globally diversified network of e-commerce sites and distribution centers will allow Namaste, in its partnership with Phivida, to reach users in new and emerging medical cannabinoid based medical and consumer health markets. This Agreement further represents Namaste’s commitment to deploy its strategic initiatives in an effort to bring the most innovative products to market. Namaste’s growing global database of consumers continues to provide value to the Company and its partners, as it aims to leverage its technical expertise relating to its cutting-edge SEO and machine learning technologies.
This Agreement represents a pilot project between both companies whereby Namaste will distribute Phivida’s proprietary CBD beverages and infused products within the designated territories. Both companies intend on further expanding distribution through other markets where Namaste maintains significant market share.
While the Canadian market remains a primary focus for Namaste, it has identified additional opportunities in the Australian and German markets, as both countries continue to demonstrate a keen willingness to move closer towards full legalization. This partnership will allow Namaste to transition seamlessly into both markets, as it looks to broaden the scope of the products and services it provides. This Agreement represents an important step for Namaste as it looks to expand its presence into emerging markets and believes Phivida’s CBD beverages, oils and infusions offer Namaste an incredible opportunity to expand its offering globally.
Sean Dollinger, President and CEO of Namaste comments: “Namaste is extremely excited to be partnering with Phivida and its world-class management team. We’re looking forward to entering the beverage space together with Phivida as we believe there is significant demand for these products in our market. Many of our successes to this point can be largely attributed to our keen ability in identifying industry leaders and then forming strategic alliances. Our partnership with Phivida further demonstrates that ability, and we feel very optimistic to be collaborating with a management team whose pedigree speaks for itself. We would like to thank Phivida for granting Namaste rights of its online retail products in the Territories, as we expand our presence globally.
We fully expect this partnership to evolve and fully intend on exhausting all opportunities whereby both parties are able grow and expand their respective market share. Not only does this offer Namaste the ability to expand its product line but so too does it help us in penetrating new markets as we look to create the world’s most expansive online medical cannabis marketplace.”