~ Phyto Extractions products to be sold through CannMart’s online marketplace and distribution partners ~
TORONTO, Dec. 2, 2019, /CNW/ – Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) is a leading online platform for cannabis products, accessories, and responsible education. Namaste today announced that its majority-owned subsidiary, CannMart Labs Inc. has entered into an exclusive licensing agreement with a BC numbered company dba Phyto Extractions (“Phyto”).
About Namaste’s agreement with Phyto Extractions
The agreement grants CannMart Labs Inc. with an exclusive licence to use Phyto trademarks on certain cannabis products such as:
- Cannabis vaporizing pen cartridges and batteries
- Cannabis capsules
- And cannabis tincture bottles and jars
The agreement provides that CannMart Labs Inc., until such time as it may obtain a production license, may assign such rights under the agreement to Namaste’s wholly-owned subsidiary CannMart Inc.
Meni Morim, CEO of Namaste Technologies Inc said:
“Phyto Extractions is an established brand name in the Canadian cannabis marketplace and we welcome their innovative products to the CannMart everything cannabis store and distribution channel. Competition is heating up in Canada with the upcoming launch of cannabis derivative products following recent regulations referred to as Cannabis 2.0. And Namaste is committed to working with leading cannabis brands, such as Phyto, to get high-quality products to customers. Phyto has a history in the Canadian marketplace and is well known for its current customer base. Namaste expects this product recognition to drive future sales with existing and new customers on the CannMart website and throughout our network of government partners.”
Namaste is adding Phyto’s product line to CannMart, its online marketplace, as it continues to aggressively expand its online product offering.
CannMart is Canada’s online ‘everything cannabis store’. CannMart carries one of the largest selections of legal cannabis products from established cannabis producers in Canada and around the world. It is focused on providing medical cannabis patients and adult-use enthusiasts with access to the highest quality cannabis products available. Namaste is always seeking to expand and improve the CannMart online marketplace through new products, retailers and online experiences. CannMart also prepares, packages and distributes cannabis products through strategic relationships with leading government agencies. Phyto products are expected to be available on CannMart.com on December 17, 2019.
About Phyto Extractions
Phyto Extractions is an awarding winning, premium-grade cannabis Company based in Canada. The company was formed over 5 years ago and was the 1st place winner of the Karma Cup in 2015.
About Namaste Technologies Inc.
Namaste Technologies has headquarters in Toronto, ON, and offices in both B.C. and around the globe. It is a leading online platform for cannabis products, accessories, and responsible education. The company’s ‘everything cannabis store’ is CannMart.com. The store provides customers with a diverse selection of hand-picked products from a multitude of federally-licensed cultivators, all on one convenient site. Namaste’s global technology and continuous innovation address local needs in a burgeoning cannabis industry requiring smart solutions. For further information about Namaste, please visit NamasteTechnologies.com
SOURCE Namaste Technologies Inc.