~CannMart launches new live resin product line
to be sold under the Phyto Extractions brand and signs agreement
with Stigma Grow to offer shatter, crumble and live resins~
TORONTO, Oct. 6, 2020 /CNW/ - Namaste Technologies
Inc. ("Namaste" or the "Company") (TSXV: N) (FRANKFURT: M5BQ)
(OTC: NXTTF), a leading platform for cannabis products,
accessories, and education, today announced the expansion of their
Cannabis 2.0 product offering with the launch of a new butane hash
oil ("BHO") live resin product line to be sold under the Phyto
Extractions brand. In addition, Namaste also announces that its
wholly-owned subsidiary, CannMart Inc. ("CannMart"), has
entered into an exclusive agreement with Stigma Grow, a
licensed producer and processor, to distribute shatter, crumble,
and live resins through CannMart's B2B channel of provincial body
supply agreements and its B2C online medical channel.
"Our ongoing mission is to align with cannabis growers,
distributors and retailers to ensure the highest-quality cannabis
concentrates are available wherever savvy consumers are looking for
something exceptional," says Travis
McIntyre, CEO of Stigma Grow. "This agreement with CannMart
is in perfect alignment with our promise to Canadians and builds on
the success and momentum that we have already seen in the provinces
where our products are currently sold. We're excited to bring our
unique live resin, full-spectrum BHO products to as many stores
across Canada as possible."
"With our new Phyto branded BHO live resin and Stigma Grow's
shatter, crumble and live resins, we are leading the marketplace
with high-quality Cannabis 2.0 products," said Meni Morim, CEO of Namaste Technologies. "Stigma
Grow's shatter, crumble and live resins are known for their quality
and are an excellent addition to CannMart's line of cannabis
products and accessories. Phyto is a leading legacy brand in
Canada and their hydrocarbon
extracts are a hit with cannabis enthusiasts. Stigma and Phyto
products will be available across Canada online at CannMart.com medically, and
through our business-to-business distribution channels throughout
our provincial customers starting in BC and Saskatchewan. We believe there is pent up
demand for these high-quality, higher-margin products and we will
look to leverage the past success of the Phyto brand to continue to
grow our sales."
In December 2019, Namaste's
subsidiary CannMart Labs Inc. entered into an exclusive licensing
agreement with Phyto Extractions ("Phyto") to use Phyto
trademarks on certain cannabis products such as cannabis vaporizing
pen cartridges and batteries; cannabis capsules; and cannabis
tincture bottles and jars. Phyto is a well-known and award-winning
legacy brand which has strong brand recognition with cannabis
aficionados seeking high-quality cannabis products. Phyto
vaporizing pen cartridges have experienced significant growth since
their introduction in 2019 and are now one of CannMart's best
sellers on its medical platform.
Stigma Grow, a subsidiary of CanadaBis Capital Inc. (TSXV:CANB),
holds cultivation and processing licenses from Health Canada and
uses leading-edge BHO cannabis extraction techniques, product
development and R&D to produce consistent high-quality shatter,
crumble and full-spectrum live resins capable of offering the
purity, potency and precision that cannabis customers demand.
Stigma Grow uses a state-of-the-art butane hydrocarbon extraction
system at their Red Deer, AB
facility to process some of the only full-spectrum concentrate
products available on the legal market today.
About Stigma Grow
Stigma Grow is a cutting-edge cannabis cultivation and
extraction company positioned advantageously to meet the unmet
market demands and stigmas within the legal cannabis industry head
on, with products designed to disturb the status quo and
dramatically shift the conversation surrounding Canada's legal cannabis industry.
About Phyto Extractions
Phyto Extractions is an award winning, premium grade cannabis
company based in Canada. The
company was formed over 5 years ago and was previously named the
1st place winner of the Karma Cup.
About Namaste Technologies Inc.
With headquarters in Toronto,
Canada, Namaste Technologies is a leading online platform
for cannabis products, accessories, and responsible education. The
Company's 'everything cannabis store', CannMart.com, provides
medical 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.
Information on the Company and its many products can be accessed
through the links below:
NamasteTechnologies.com
NamasteMD.com
Cannmart.com
CAUTION REGARDING FORWARD LOOKING STATEMENTS
This news release includes statements containing certain
"forward-looking information" within the meaning of applicable
securities laws ("forward-looking statements"). Forward-looking
statements are frequently characterized by words such as "plan",
"continue", "expect", "project", "intend", "believe", "anticipate",
"estimate", "may", "will", "potential", "proposed" and other
similar words, or statements that certain events or conditions
"may" or "will" occur and include, but are not limited to,
statements regarding the anticipated timing of the rollout and
availability of Stigma and Phyto products, the projected demand for
such products and any associated growth in sales. These statements
are only predictions. Various assumptions were used in drawing the
conclusions or making the projections contained in the
forward-looking statements throughout this news release.
Forward-looking statements are based on the opinions and estimates
of management at the date the statements are made, and are subject
to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from
those projected in the forward-looking statements, including but
not limited to, uncertainty relating to the actual timing of the
rollout and availability of Stigma and Phyto products, actual
customer demand for such products falling short of management's
expectations, as well as the risks identified under the heading
Risk Factors in the Company's Annual Information Form for the
fiscal year ended November 30,
2019. The Company is under no obligation, and expressly
disclaims any intention or obligation, to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as expressly required by
applicable law.
Neither the TSX Venture Exchange nor its regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
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SOURCE Namaste Technologies Inc.