Namaste Technologies Inc., an online platform for cannabis products, accessories, and responsible education, announced that its majority owned subsidiary, CannMart Labs Inc. has entered into an exclusive licensing agreement with a BC numbered company dba Phyto Extractions (“Phyto”). The agreement grants CannMart Labs Inc. with an exclusive licence to use Phyto trademarks on certain cannabis products such as cannabis vaporizing pen cartridges and batteries; cannabis capsules; and cannabis tincture bottles and jars. The agreement provides that CannMart Labs Inc., until such time as it may obtain a production license, may assign such rights under the agreement to Namaste’s wholly-owned subsidiary CannMart Inc.
“Phyto Extractions is an established brand name in the Canadian cannabis marketplace and we welcome their innovative products to the CannMart everything cannabis store and distribution channel,” said Meni Morim, CEO of Namaste Technologies Inc. “Competition is heating up in Canada with the upcoming launch of cannabis derivative products following recent regulations referred to as Cannabis 2.0 and Namaste is committed to working with leading cannabis brands, such as Phyto, to get high quality products to customers. Phyto has a history in the Canadian marketplace and is well known with our current customer base. Namaste expects this product recognition to drive future sales with existing and new customers on the CannMart website and throughout our network of government partners.”
Namaste is adding Phyto’s product line to CannMart, its online marketplace, as it continues to aggressively expand its online product offering. CannMart is Canada’s online ‘everything cannabis store’ which carries one of the largest selections of legal cannabis products from established cannabis producers in Canada and around the world. It is focused on providing medical cannabis patients and adult-use enthusiasts with access to the highest quality cannabis products available. Namaste is always seeking to expand and improve the CannMart online marketplace through new products, retailers and online experiences. CannMart also prepares, packages and distributes cannabis products through strategic relationships with leading government agencies. Phyto products are expected to be available on CannMart.com on December 17, 2019.
Phyto Extractions is an awarding-winning, premium grade cannabis Company based in Canada. The company was formed over 5 years ago and was the 1st place winner of the Karma Cup in 2015.