TORONTO – Namaste Technologies Inc. (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) a marketplace platform for cannabis and wellness products, announced that www.CannMart.com is live in the USA offering Americans hemp-derived CBD and smoking accessories. Namaste says it is excited to be leveraging its VendorLink technology in collaboration initially with DankStop and PeakBirch Logic, Inc., and looks forward to adding more partners to the platform.
The announcement of this expansion in the USA underscores Namaste’s intention to increase its total addressable market and exploration into other verticals and geographies as regulation evolves and other adjacent complementary market opportunities present themselves.
“With ever stronger signals that the regulatory landscape in the USA is evolving, our entry into the jurisdiction through the sale of hemp derived CBD and accessories will position us strategically to begin capturing new market share and build a first mover advantage if and when cannabis becomes legalized federally,” said Meni Morim, CEO of Namaste. “This development also further validates our investment in technology, as the expansion will be facilitated via our marketplace technology. We look forward to building on this positive momentum as we continue to execute our strategy to position Namaste as a leading global cannabis and wellness company.”
“Our goal will be to aggressively expand our footprint into the USA as we scale up our marketplace platform,” said Chad Agate, CTO and VP of Marketplace at Namaste. “We are not growing or exporting products from Canada into the USA, we are simply carving out our role as the facilitators using CannMart.com and our VendorLink platform. American and other companies that wish to sell legal products in the USA can now use our innovative platform to conduct business similarly to Amazon. We look forward to adding more partners selling their innovative products throughout the USA.”
Headquartered in Toronto, Canada, Namaste Technologies is a marketplace platform for cannabis and wellness products. At CannMart.com, the company provides Canadian medical customers with a diverse selection of hand-picked products from a multitude of federally licensed cultivators and US customers with access to hemp-derived CBD and smoking accessories. The company also distributes licensed and in-house branded cannabis and cannabis derived products in Canada through a number of provincial government control boards and retailing bodies and facilitates licensed cannabis retailer sales online in Saskatchewan. Namaste’s global technology and continuous innovation address local needs in a burgeoning cannabis industry requiring smart solutions.
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