TORONTO, Oct. 6, 2020 /CNW/ - PRESS RELEASE - Namaste Technologies Inc., a platform for cannabis products, accessories and education, has announced the expansion of its Cannabis 2.0 product offering with the launch of a new butane hash oil (BHO) live resin product line to be sold under the Phyto Extractions brand. In addition, Namaste also announces that its wholly-owned subsidiary, CannMart Inc., has entered into an exclusive agreement with Stigma Grow, a licensed producer and processor, to distribute shatter, crumble and live resins through CannMart's B2B channel of provincial body supply agreements and its B2C online medical channel.
"Our ongoing mission is to align with cannabis growers, distributors and retailers to ensure the highest-quality cannabis concentrates are available wherever savvy consumers are looking for something exceptional," said Travis McIntyre, CEO of Stigma Grow. "This agreement with CannMart is in perfect alignment with our promise to Canadians and builds on the success and momentum that we have already seen in the provinces where our products are currently sold. We're excited to bring our unique live resin, full-spectrum BHO products to as many stores across Canada as possible."
"With our new Phyto branded BHO live resin and Stigma Grow's shatter, crumble and live resins, we are leading the marketplace with high-quality Cannabis 2.0 products," said Meni Morim, CEO of Namaste Technologies. "Stigma Grow's shatter, crumble and live resins are known for their quality and are an excellent addition to CannMart's line of cannabis products and accessories. Phyto is a leading legacy brand in Canada and their hydrocarbon extracts are a hit with cannabis enthusiasts. Stigma and Phyto products will be available across Canada online at CannMart.com medically, and through our business-to-business distribution channels throughout our provincial customers starting in BC and Saskatchewan. We believe there is pent up demand for these high-quality, higher-margin products and we will look to leverage the past success of the Phyto brand to continue to grow our sales."
In December 2019, Namaste's subsidiary CannMart Labs Inc. entered into an exclusive licensing agreement with Phyto Extractions to use Phyto trademarks on certain cannabis products such as cannabis vaporizing pen cartridges and batteries, cannabis capsules, and cannabis tincture bottles and jars. Phyto is a well-known and award-winning legacy brand which has strong brand recognition with cannabis aficionados seeking high-quality cannabis products. Phyto vaporizing pen cartridges have experienced significant growth since their introduction in 2019 and are now one of CannMart's best sellers on its medical platform.
Stigma Grow, a subsidiary of CanadaBis Capital Inc., holds cultivation and processing licenses from Health Canada and uses leading-edge BHO cannabis extraction techniques, product development and R&D to produce consistent high-quality shatter, crumble and full-spectrum live resins capable of offering the purity, potency and precision that cannabis customers demand. Stigma Grow uses a state-of-the-art butane hydrocarbon extraction system at their Red Deer, AB facility to process some of the only full-spectrum concentrate products available on the legal market today.
