Namaste Technologies Inc. (OTCPK:NXTT.F) signed a non-binding letter of intent to acquire 10% stake in Cannbit Ltd for NIS 2.5 millon on January 18, 2018. Under the terms of the letter, Namaste and Cannbit propose to enter into a share purchase agreement and/or a subscription agreement through an investment to be made in a proportion to be determined and agreed by both parties. Cannbit will also offer Namaste a first right of refusal to purchase an additional 5% equity in shares at the same valuation. The closing of the proposed agreement will be contingent upon negotiating and execution of definitive documentation and approval of the terms of the agreement by each party’s respective board of directors and shareholders, if applicable, and by the Canadian Securities Exchange, if applicable.