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 license

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.

By Steven Russell

Steve covers business and investing in emerging medical marijuana markets. Steve graduated from the university of New Orleans with a degree in Broadcast Journalism. Steve has published several articles in professional journals and magazines. His experience gives readers an inside look at the intersection of his specialties, business and medical marijuana.

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