Signs Second Cannabis Client with the First USA Manufacturer under Namaste Partnership
- YPB and Namaste ambition for Cannabis Confirmed to become global authentication standard for legal cannabis
- 2 manufacturers signed since partnership commenced
Elev8 Distribution is a Colorado-based producer of cannabis vaporisers under the brand 7th floor vapes. It ships products globally and sells via Namaste, resellers and its own website. It is one of numerous vaporiser producer clients Namaste has in the USA and internationally and reflects the global nature of the opportunity with Namaste. Elev8 alone is likely to be a modest revenue contributor to YPB but the cumulative opportunity with Namaste is expected to become a major revenue contributor to YPB.(see Note below)
Namaste is a rapidly growing Canadian company with a global footprint and presence in the medical cannabis industry. Namaste has positioned itself as a central hub linking producers of hardware and cannabis directly to authorised patients and is ideally positioned to participate in the rapid growth of the global legal cannabis industry.
Since formally partnering at the end of June 2018, YPB and Namaste Technologies have developed detailed plans for securing all parts of the legal cannabis supply chain globally with the intention of cannabis confirmed becoming the global product authenticity standard in the industry. Consumer confirmation of authenticity can then become the means of close engagement between producers, consumers and Namaste.
YPB's Executive Chairman John Houston said: "Winning our first cannabis client in the USA is exciting but just the tip of a large iceberg. Namaste is proving a dynamic and committed partner and we have developed a powerful plan to ensure product and supply chain integrity across the legal cannabis industry where we have a genuine opportunity to become the global authentication standard. We expect to demonstrate further strong momentum with Namaste."
Modest revenue contribution: < AUD100K per annum
Moderate revenue contribution: > AUD100K < AUD1m per annum
Major revenue contribution: > AUD1m per annum
About YPB Group Ltd
YPB Group Ltd (ASX:YPB) brings packaging to life through its proprietary technology suite that provides certainty of authenticity and connects brands directly to consumers enabling new levels of market intelligence and ROI data capture.
In an evolving marketplace and with the rapid growth of cross border commerce, our expertise presently focuses on the rapidly growing consumer markets of Australia, South East Asia and China.
YPB Group Ltd
Namaste Technologies Inc