Cannmart Extends Provincial Business Channel, B2B Market Expected To Continue Growing As A Result

By J Rodrigo Safdiye.

Benzinga · 11/13/2019 20:12

By J Rodrigo Safdiye.

Namaste Technologies Inc (OTC: NXTTF) (CSE: N), an online platform for cannabis products, accessories and responsible education, announced Tuesday its subsidiary, CannMart Inc., signed a supply agreement with the Ontario Cannabis Retail Corporation or OCRC, operating as the Ontario Cannabis Store (or OCS).

The OCS is the sole legal online retailer and wholesaler for recreational cannabis for Ontario province.

In addition, CannMart has been registered with the Saskatchewan Liquor & Gaming Authority, allowing for the sale of cannabis products to permitted wholesalers in the Province of Saskatchewan. The company also announced recently a purchase order with the Province of British Columbia for pre-rolled cannabis products.

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"Working directly with the provincial governments represents a significant market opportunity for us," said Meni Morim, CEO of Namaste Technologies. "We look forward to being part of the value chain for OCS and SLGA as we expand our presence in this sector."

Namaste is seeking comparable settlements with other provincial government agencies.

Additionally, Namaste has entered into a services agreement with Native Ads Inc. under which Native Ads will provide and manage a comprehensive digital media marketing campaign.

Photo by Javier Hasse.