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Namaste Technologies' CannMart wins cannabis supply order from BC Liquor Distribution Branch

CannMart products will be available at government-run BC Cannabis Stores and licensed private retailers

Pre-rolled cannabis
The BCLDB is the only organization allowed to purchase and import alcoholic beverages in BC because of the province’s public-private partnership

Namaste Technologies Inc (CVE:N) (OTCMKTS:NXTTF) subsidiary CannMart has received an order for pre-rolled cannabis from the British Columbia Liquor Distribution Branch (BCLDB). 

The deal means CannMart products will be available at government-run BC Cannabis Stores and licensed private retailers, the company said in a statement Monday.

The BCLDB is the only organization allowed to purchase and import alcoholic beverages in British Columbia because of the province’s public-private partnership. 

"This is a major milestone for Namaste as it is the first order that we have received from a government agency," Namaste CEO Meni Morim said in the statement.

READ: Namaste Technologies introduces Cultivated Beauty’s hemp-based skincare products through CannMart

“Our unique positioning with Cannmart — which enables us to offer a selection of products from multiple licensed producers, some of which may only have a cultivation license — allows provincial distributors the opportunity to purchase a diversified inventory all in one place,” Morim said.

Investors agreed, sending shares of Namaste 12% higher Monday to C$0.55 on the TSXV and more than 11% to US$0.41 on OTC Markets.

The Toronto-based company said it was in discussion with additional provincial agencies in order to expand its customer base.

—Updated to include stock movement—

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

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Price: 0.305 CAD

TSX-V:N
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Full interview: Namaste receives Health Canada approval to sell Cannabis Oil...

Namaste Technologies (CVE: N) CEO Meni Morin joined Steve Darling from our Toronto Studio to discuss their online sales platform CannMart getting Health Canada approval to sell cannabis oil. Morim also telling Proactive about their Q-3 revenue numbers and the potential for growth.

on 4/11/19

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