Namaste Technologies Inc. (“Namaste” or the “Company“) (TSXV:N.V) (M5BQ.F) (NXTTF) today announced the signing of three new agreements with Canadian licensed producers (“LP“),further expanding the breadth of products offered within its online cannabis marketplace. Included in the list of new LPs is Agro-Greens Natural Products Ltd. (“Agro-Greens“), of Macklin, SK and PureSinse Inc. (“PureSinse“) of Brampton, ON. The Agro-Greens and Puresinse agreements help solidify Namaste’s, and its online platform CannMart’s, new fee-based model based on consignment versus traditional buy and sell. This new model allows CannMart to manage working capital and the LPs to retain their brand loyalty.
These new agreements highlight the company’s value proposition to LPs, enabling them to be vertically integrated within the CannMart platform and providing the infrastructure to deliver products to a new and larger audience. CannMart started sales on Oct 17, 2018 when cannabis legalized with 2 LP’s, only 3 strains and 11 SKU’s. Today CannMart has supply agreements with 15 LP’s, over 39 strains, and 170 SKU’s. Outside of Canada, the company has existing supply relationships in Columbia, Australia and Israel, with imports pending government approval.
“The commitment and investment that we have made in our people and technology is beginning to pay dividends,” stated Meni Morim, interim CEO of Namaste. “Licensed producers are increasingly recognizing this commitment, and see the value in our platform. As our end-to-end business proposition continues to develop, we are on track and focused to become the world’s most customer focused marketplace for cannabis and cannabis accessories”.
Originally focused on dried flower and pre-rolls, the company has continued to differentiate itself through expanding into new product categories, including hemp pet food, and other every day cannabis accessories. The onboarding of LP’s to CannMart has allowed the platform to offer additional products from new and existing LPs, with over 100 products added since the beginning of the year.
About Namaste Technologies Inc.
Namaste Technologies powers the ultimate online customer experience for medicinal cannabis and related products. Beginning with NamasteMD.com, the Company’s integrated telemedicine application, Namaste connects medical clients with health care practitioners to more readily issue and renew cannabis prescriptions online. Featuring the first Canadian Medical Sales-Only Licence, the Company’s own Cannmart.com is your ‘everything cannabis store’ offering clients a large variety of strains to fill their prescription needs. Namaste’s unique artificial intelligence (AI) engine incorporated in its platforms and related Uppy App, completes our ecosystem by identifying the right product and pairing to address specific medical cannabis requirements. Namaste also provides vaporizers and accessories across several platforms operating in several countries. Namaste’s global technology addresses local needs in a burgeoning cannabis industry requiring smart solutions. For further information about Namaste, please log onto www.Namastetechnologies.com
Information on the Company and its many products can be accessed through the links below:
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