CannMart To Distribute Ignite's Cannabis 2.0 Products Across Alberta, Ontario
The Vaughan, Ontario-based, cannabis-focused investment company has provided CannMart, a wholly owned subsidiary of Namaste Technologies Inc. (TSXV:N) (OTCQB:NXTTF), with a license to use certain brands in the commercialization of cannabis-based products.
CannMart also obtained a permit from Alberta Gaming, Liquor & Cannabis, and the Ontario Cannabis Retail Corporation operating as the Ontario Cannabis Store to launch its Cannabis 2.0 products in Alberta and Ontario, according to Wednesday press release.
The first offering will include a wide range of vape cartridges.
Ignite President Lester Lee touted CannMart’s team in statement.
They “trust that our brand can be nurtured in accordance with our high standards and together we can continue to build on our early success as we look to grow market share,” Lee said.
Namaste’s CEO praised the deal and highlighted that “CannMart continues to demonstrate its ability to grow its sales distribution channels in the Canadian market, and this is attracting the attention of well-established brands like IGNITE.”
Last month, Ignite made some shifts in its management team, hiring a new CFO following Edoardo Mattei’s resignation.
Even though the name of the newly appointed CFO remained undisclosed, the company said the new hire has a background in accountancy and has worked with Fortune 500 enterprises.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.