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Emerald Health, Namaste ink letter of intent for cannabis tie-up

Emerald Health Therapeutics Inc. and online cannabis retailer Namaste Technologies Inc. said Jan. 30 that they signed a letter of intent for a proposed collaboration on strategic global business opportunities.

The proposed agreement between the Canadian companies would see the development of a fully integrated online retail platform incorporating Namaste's technology, to be used by Emerald's patients.

Emerald, meanwhile, would enter into a supply contract to provide proprietary strains of medical cannabis to Namaste's wholly owned, sales-only subsidiary CannMart Inc.

The intended collaboration would also use Namaste's consumer databases, site traffic and e-commerce technology for marketing purposes, while Emerald's expertise would be used in tailoring medical cannabis downstream products for specific markets and patients.

Upon signing of the proposed partnership and supply agreements, Namaste would receive 500,000 warrants of Emerald, which in turn would receive 500,000 warrants of Namaste. The transaction would be subject to stock exchange approvals, with all warrants priced in accordance with applicable exchange policies.