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Namaste Technologies launches Craft Cannabis Program to boost craft cultivators

Namaste Technologies launches Craft Cannabis Program to boost craft cultivators


(CVE:N, OTCQB:NXTTF) is launching a Craft Cannabis Program, which provides regulatory support and a direct sales channel, in an effort to bolster craft cultivators.


Namaste’s subsidiary Cannmart Inc, aided by regulatory partner Cannabis Compliance Inc, will offer regulatory and financial support to micro- cultivators licensed under the Cannabis Act.


READ: Shorting Namaste Technologies’ stock getting more difficult, says S3 Partners analyst


In exchange, the online cannabis store and micro cultivator will sign a supply agreement giving Cannmart the right of first refusal on 100% of its production.


Micro cultivators are eligible for reimbursement of up to $100,000 for regulatory compliance costs.


Micro-processors will be allowed to process up to 600kg of cannabis from the facility while micro-cultivators will be allowed to grow cannabis up to 200 square meters of total canopy space.


“Our platform provides great exposure for smaller growers which are not looking to have their products white labeled and sold through wholesale channels,” said Namaste CEO Sean Dollinger in the company’s press release.


A Craft Cannabis section will be featured on Cannmart’s site, showcasing cannabis products from small-batch cultivators.


Cannmart is hopeful that the micro-cultivators will be able to provide its medical cannabis patients with access to strains not yet available on the regulated market.


 


Contact Lenore Fedow at [email protected]


Follow her on Twitter: @LenoreMariee



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