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Namaste Technologies Inc (OTCMKTS:NXTTF) Finalizes Fulfillment Deal With Greenlane

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Namaste Technologies Inc (OTCMKTS:NXTTF) reported that its subsidiary unit Cannmart Inc. has finalized a Fulfilment Services Agreement with Greenlane Canada whereby Greenlane will offer exclusive warranty and order fulfilment services for Namaste Canadian websites.

The details

Under the terms of the deal, Greenlane will meet orders for all offerings set forth in Greenlane’s product offering and products which are sold and marketed under brands controlled by company and other third-party offerings as mentioned by Namaste. This deal exhibits a strategic decision to align the firm with the industry’s key business-to-business distributor, while the company will gain through a considerable reduction of inventory as well as lowered operational expenses, getting the firm closer to profitability.

Since start, Namaste Technologies has maintained a robust working association with Greenlane and considers that this deal is accretive in nature. Moreover, it is considered this deal will establish the framework for company to collaborate with Greenlane on upcoming prospects in areas linked to the supply of cannabis packaging offerings and pre-filled cartridges for medicinal cannabis, to be offered in Canada via Namaste’s wholly owned subsidiary unit Cannmart.

Greenlane will offer order fulfillment for wholesale and direct website sales. It will offer all services linked to inventory owned and kept by Greenlane, including packing, shipping and pulling orders. The firm will perform a one-time purchase of inventory as stated by Namaste depending on 360-day payment terms, so as to confirm satisfactory inventory levels.

Greenlane shall be accountable for warehousing of Namaste’s inventory such as the costs of rent, insurance, shrinkage and fixtures. Services will be offered in a manner consistent with Greenlane SOP for its own consumers as it relates to order accuracy, order processing time, packages damaged in transit and on-time shipments. Greenlane will offer Namaste Technologies with access to fresh products included in its catalogue.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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