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Alchemist strikes strategic partnership deal with Agua Technologies

Alchemist and Agua will deploy the Aqua suite of software and hardware products to cannabis operators throughout the US

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Alchemist and Agua will deploy the Aqua suite of software and hardware products to cannabis operators throughout the USA

Alchemist Inc (CSE:AMS), a company transitioning from gold exploration to cannabis sector technology, told investors it had signed a strategic partnership agreement with Agua Technologies.

Under the deal, Alchemist and Agua will deploy the Aqua suite of software and hardware products to cannabis operators throughout the US.

In a recent Proactive interview (see below), Paul Mann, the group's president, said the integration of the Aqua suite with its software-as-a-service (SaaS) Oddysee platform "affords us unparalleled

insight into the pre- and post-licence requirements of cultivators, manufacturers, operators, distributors, delivery companies and dispensaries."

Sesie Bonsi, Agua Technologies' CEO, added: "We are excited to form this strategic partnership with Alchemist to expand our market reach and deliver real-time, insightful supply chain data and financial services for cannabis business operators globally.

"The executive team at Alchemist share a similar vision with the executive team at Aqua with respect to emerging market technology serving the cannabis industry," she said. "Paul and the Alchemist leadership team bring a wealth of experience and knowledge that complement Aqua's business objectives."

Alchemist said that both groups would continue to explore other opportunities to further expand the strategic partnership and enhance the user experiences for all users.

The strategic partnership agreement will see the two firms share revenue on a 50:50 basis from net proceeds generated from all clients contracted under the partnership.

The firm has earmarked January 2019 as the time when its change of business would be fully completed.

Quick facts: Alchemist Inc

Price: 0.055 CAD

CSE:AMS
Market: CSE
Market Cap: $2.15 m
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