Namaste Technologies Inc. (OTCMKTS:NXTTF) has provided a corporate update, which includes an announcement that its wholly owned-subsidiary CannMart Inc. has renewed its license with Health Canada. CannMart received renewal of the standard processing and sales for medical purposes license effective March 11, 2021, under the Cannabis Regulations.
CannMart renews its license with Health Canada
Meni Morim, Namaste’s CEO, said that they are delighted to renew the standard processing and sale for medical purposes license with Health Canada. Morim explained that CannMart has done a great job in growing its business over the past year, and they expect to bring in new partners to distribute the growing product variety to customers. He said that they are looking forward to the momentum to expand their business and execute the strategy of becoming a leading cannabis and wellness organization globally.
CannaMart to offer Sugarbud’s Craft Cannabis products
Also, Namaste has announced the CannMart has entered a supply agreement with Sugarbud Craft Growers Corp for access to its unique select craft cannabis collection to medical cannabis customers at cannmart.com. Sugarbud CEO John Kondrosky said that they are pleased to partner with CannMart to offer registered medical consumers across Canada access to the Craft cannabis Collection.
Namaste Technologies marketplace VP and CTO Chad Agate said that they are delighted to bring Sugarbud to CannMart.com. Chad said that Sugarbud is another high-quality producer that recognizes the company’s online distribution channel’s value and leverages the VendorLink platform.
Namaste launches new website
Also, Namaste is inviting visitors to explore its new corporate website with the new website designed to offer a user-friendly experience with enhanced navigation, allowing shareholders to access important information, including access to annual and quarterly financial statements.
Namaste plans to issue 880,144 common shares at $0.3062 as payment of the second tranche of the purchase price to vendors according to the share purchase deal for CannaMart Labs Inc.’s acquisition. The issuance will be shared for debit transactions under TSX Venture Exchange’s policies, and it is subject to regulatory approval.
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