Canaccord Genuity Growth Corp. and Columbia Care LLC Execute Definitive Transaction Agreement

Published: November 21, 2018

Canaccord Genuity Growth Corp. and Columbia Care LLC Execute Definitive Transaction Agreement

Namaste Technologies Inc. announced that the Company’s wholly-owned subsidiary, Cannmart Inc. has signed an Asset Purchase Agreement with 1181530 BC Ltd. to acquire the domain Buds2go.ca. Subject to the terms of the Agreement, Cannmart purchased the Buds2go.ca domain along with social media accounts and all intellectual property in connection therewith including trademark applications in exchange for a cash payment of $300,000. The 1181530 BC Ltd. management team signed a 6-month consulting agreement to assist with integration and operations.

The acquisition of Buds2go.ca is strategic in nature as the domain has established high-ranking organic search results for many targeted and valuable keywords, and supports the Company’s vision to become a global leader in cannabis e-commerce and technology. The Buds2go.ca domain receives approximately 400,000 site visits per month, with an average visit duration of 6 minutes and a bounce-rate of roughly 31%. The site visits, search traffic and SEO rankings of Buds2go.ca would be difficult to replicate and provide strong long-term value for the company.

The Company is pleased to report that it has also concurrently completed an integration with the Buds2go.ca domain and has launched a new website which is powered by Cannmart. This will allow patients to order products from Buds2go.ca through a regulated channel and have access to inventory fed directly through Cannmart.

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