Namaste Technologies Inc (OTCMKTS:NXTTF) subsidiary Obtains License As Company Announces Gill’s Exit

Namaste Technologies Inc (OTCMKTS:NXTTF) subsidiary Obtains License As Company Announces Gill’s Exit

The Chief
Strategy Officer for Namaste
Technologies Inc (OTCMKTS:NXTTF)
Darren Gill will no longer be working for
the company. This official resigned recently, citing that he was going to
pursue other opportunities.

Namaste has been
happy to work with Gill and is wishing him well in his future endeavors. The
leader was dedicated and a team player. However, the company has to respect his
decision, and so it is has started making plans to fill the gap.

CannMart Inc receives its business

Since its
establishment, Namaste Technologies has been delivering services as an online
platform for cannabis products and accessories. The company has also been
supporting the attainment of responsible education. Today, the business is
quite pleased to announce the attainment of Health Canada’s approval. This
regulatory body has decided to give the company’s subsidiary CannMart Inc a
license. With this license, CannMart Inc will be able to provide diverse
cannabis oil concentrates on its business platform freely.

Plans underway

The CEO of
Namaste Technologies Inc Meni Morim says it was a significant move obtaining
the amended sales license. According to him, this will make it possible for the
company to create a wide range of new cannabis products. This would then
translate to more revenue streams.

Morim opined,
“The long-awaited Health Canada approval we just received is pivotal as it
allows us to participate in the cannabis oils market today, and sets the stage
for our presence in the edibles, extracts and topicals markets, pending their
legalization and regulation anticipated to occur this week.”

Analysts have
applauded the amendment to CannMart’s cannabis sales license on the grounds
that it will open more doors for the business. For instance, CannMart will
distribute cannabis oils to a large number of registered medical patients to
fetch higher revenues.

The other thing
is that CannMart will be well-positioned to take advantage of Canada’s
“Cannabis 2.0” market opportunity. This will be particularly at the
point when the cannabis topicals, edibles, and extracts get legalized for
recreational use. The consulting firm Deloitte recently unveiled its report
giving estimates. It showed that the Canadian market for alternative cannabis
products and edibles standing at about C$2.7 billion annually.

Published at Wed, 23 Oct 2019 12:02:00 +0000

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