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BlissCo Signs AI E-Commerce and Technology Agreement with Namaste to Serve Billion Dollar Cannabis E-Commerce Market
Not for distribution in the U.S. or to U.S. newswire services.
Vancouver, British Columbia – July 18, 2018 – BlissCo Cannabis Corp. (FRA: GQ4B) (CSE: BLIS), (“BlissCo”) or the (“Company”) is pleased to announce that the Company has signed an e-commerce and technology services agreement (the “Agreement”) with Namaste Technologies Inc. (“Namaste”) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF).
The Agreement provides BlissCo with services including access to Namaste’s technology platforms, software integrations and e-commerce services including those powered by artificial intelligence (AI).
Namaste is a global leader in the sale of medical cannabis technology and consumption devices. Namaste has nine offices with multiple distribution centers around the globe and operates over 30 websites under various brands. Namaste developed Canada's first ACMPR compliant telemedicine application, NamasteMD.com.
“By signing this agreement, we further strengthen BlissCo’s ecosystem by leveraging Nameste’s tech-enhanced distribution channels and complementary products. We plan to provide our patients with direct access to BlissCo products by leveraging Namaste’s e-commerce and mobile platforms and utilizing the company’s white-labeling capabilities to create a consistent brand experience,” said Damian Kettlewell, CEO of BlissCo Cannabis Corp.
Under the terms of the Agreement, Namaste will assist Blissco in enhancing its online platform by utilizing Namaste’s suite of innovative technologies including;
Software integrations including AI and machine learning to improve conversion rates
Customization of Namaste’s telemedicine application, NamasteMD based on a recurring revenue model
E-commerce development services including programming and IT
Namaste will provide Blissco with an agreement to use Pineapple Express Inc. same-day delivery service
Watch live as Mr. Kettlewell joins Mr. Dollinger for the YouTube livestream show, Namaste 420, today at 4:20 pm Eastern / 1:20 pm Pacific.
The Company also announces:
That Blissco compensates Namaste for services with 210,000 common stock options (the “Options) with a strike price determined as at the date of closing of the Agreement.
That it has granted 285,000 Options to employees and Consultants, at an exercise price of $0.38 per Option. Each Option will have an exercise term of up to three (3) years and vesting will be determined by management.
That Namaste Co-Founder, President and CEO, Sean Dollinger, is joining BlissCo’s board as a Director and has been granted 250,000 Options at an exercise price of xxx (BlissCo closing stock on Tuesday, July 17). Each option will have an exercise term of up to three (3) years and vesting will be determined by management.
That Praveen Varshney is stepping down as a Director
About Namaste Technologies Inc.
Namaste Technologies is a global leader in the sale of medical cannabis consumption devices. Namaste has nine offices with multiple distribution centers around the globe and operates over 30 websites under various brands. Namaste has developed innovative technology platforms including NamasteMD.com, Canada's first ACMPR compliant telemedicine application. The company is focused on patient acquisition through NamasteMD and intends on building Canada's largest database of medical cannabis patients. The company's subsidiary, CannMart Inc. is an ACMPR Licensed Producer, awaiting approval for a "sales-only" license, whereby the company will offer a large variety of medical cannabis sourced from domestic and international producers. Namaste will continue to develop and acquire innovative technologies which will provide value to the Company and to its shareholders as well as to the broader cannabis market.
About BlissCo Cannabis Corp.
BlissCo Cannabis Corp. (CSE: BLIS) (FRA: GQ4B) is an ACMPR licensed producer and future distributor of ultra-premium cannabis. The company sits at the heart of an international ecosystem and is focused on the success of its domestic and global partnerships.
BlissCo leverages the latest technology and is continuously developing its network of top-tier industry experts to drive the success of its brand and channels, moving premium Canadian cannabis to local and international markets.
BlissCo is backed by an experienced team that is deeply in tune and integrated with industry partners and BlissCo's future patients and customers.
Learn more: BlissCo.com
On Behalf of the Board of Directors
BLISSCO CANNABIS CORP.
Damian Kettlewell, CEO, Founder & Chair
For further information please contact:
Ariel Jack Lewinski, Business Development & Investor Relations
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the word “will” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. This news release contains forward-looking statements and assumptions pertaining to the following: the ability to execute on our strategic plans and the impact on our future operations, capital expenditures, receipt of a cannabis oil license and a license to sell dried cannabis and other objectives. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.
The CSE has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
As Canada is primed as a global leader and first mover in the cannabis industry, BlissCo is uniquely poised in the rapidly growing multi-billion dollar market and in various international markets as cannabis regulations progress.
BlissCo, founded in 2013, is a Canadian vertically integrated cultivation, extraction and distribution focused cannabis brand that earned its Access to Cannabis for Medical Purposes Regulations (ACMPR) license to cultivate from Health Canada on March 29, 2018.
BlissCo's state-of-the-art production facility, located in Metro Vancouver, is purposefully designed as a hub for research, cultivation, processing, extraction, packaging and distribution.
Now with the ACMPR license to cultivate, BlissCo will commence its operation to harvest premium cannabis within its' urban facility in Metro Vancouver. BlissCo also has a multi-year supply agreement in place with a Canadian Licensed Producer of characteristically sun-grown premium medicinal cannabis to purchase supply in large volumes (news release). This premium bulk cannabis will be brought to our secure and pristine facility in British Columbia for processing and then be packaged for sale and distribution to our growing patient list when BlissCo has appropriately received its license for sale.
BlissCo was founded with the assistance of a team of advisors, including medical and naturopathic doctors, has intentionally engaged with the medical community to understand how to contribute to improved patient health with medicinal cannabis products. A large part of our strategy for growth centres on how to securely integrate and collaborate with the healthcare system.
The BlissCo team has deep domain expertise in the critical category success areas:
- Multi-province controlled substance distribution (BC and Alberta)
- Cultivation and product safety, consistency and security
- Indoor cultivation, controlled environments ensuring high standards & consistent products.
- Quality assurance, product safety, 3rd Party GMP Audits & Certifications.
Strategic partnership with the Supreme Cannabis Company
Trading on Canadian Securities Exchange (CSE:BLIS)
ACMPR License to Produce earned
Cannabis plant starting material to arrive at BlissCo's facility and growing commences.
ACMPR Cannabis Oil Extraction License application submitted
Sign agreement to export 720 kilograms of medical cannabis to Germany
ACMPR License to Sell application submitted
Sign supply agreement with GreenSeal Cannabis
Sign e-commerce and technology service agreement with Namaste Technologies (TSXV: N)
Confirmation of Readiness for Inspection received from Health Canada
Confirmation of Readiness for License from Health Canada
Close on purchasing facility for $2.4m
Earn Building Permit from Township of Langley
ACMPR Licensed Submitted