Namaste Technologies Inc. (NXTTF) announced that it has signed a Global Digital Reseller-Supply agreement with Phivida Holdings Inc. (PHVAF).
According to the company statement, 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 infused functional beverages and clinical health products. The agreement includes a global online territory, targeting the launch in Germany and Australia.
“Namaste is extremely excited to be partnering with Phivida and its world-class management team,” said Sean Dollinger, President, and CEO of Namaste. “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.”
The agreement is 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. 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 will 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.
“As Phivida continues to expand is CBD product offerings into a $1 Trillion global health and wellness market, it is critical that we secure the strongest distribution partners,” said John-David Belfontaine, President a, d CEO of Phivida. “Ecommerce and digital marketing is a core horizontal within our greater strategic business plan, and Namaste is an ideal partner to expand our online presence into emerging markets around the world. We look forward to launching our global digital marketing and distribution platform with Namaste’s support as a key strategic partner.”