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Namaste announces its intent to launch recreational dispensaries through Cannmart and Infinite Labz
Namaste announces its intent to launch recreational dispensaries through Cannmart and Infi...
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[{"type":"text","content":"\n\n\n\nNamaste announces its intent to launch recreational dispensaries through Cannmart and Infinite Labz\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Oct. 26, 2018\n\n\n\nVANCOUVER, Oct. 26, 2018 /CNW/ - Namaste Technologies Inc. (\"Namaste\" or the \"Company\") (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) is pleased to announce that subject to the proposed legislation outlined by the Province of Ontario, that the Company intends to launch recreational cannabis dispensaries through its wholly-owned subsidiary, Cannmart Inc. (\"Cannmart\") and through its partnership with 2624078 Ontario In. (\"Infinite Labz\"). \n\n \n \n\n \nBoth facilities are located within approximately 5km from Pearson International Airport. With over 47 million passengers through the airport annually, Cannmart and Infinite Labz will provide travelers with a convenient location within minutes from the airport that will offer a variety of cannabis products sourced from multiple vendors. \nCannmart is the first sales license which has been issued to a non-cultivator of cannabis in the Canadian market (the \"sales-only\" license). This allows Cannmart to offer a variety of cannabis products sourced from multiple license producers in a single platform. While the Company is focused on creating an online marketplace for medical cannabis, it has at the same time recognized the value of Cannmart and Infinite Labz locations and intends on launching physical dispensaries catered towards the recreational market. \nFurther to the Company's May 10th, 2018 news release, Namaste acquired 51% of the issued and outstanding shares of Infinite Labz, which will be a purpose-built oil extraction facility incorporating leading extraction technology. Infinite Labz will offer a variety of products and brands to be sold to both the medical and recreational markets. Namaste anticipates an accelerated demand for cannabis oils, and Infinite Labz will be a dedicated facility designed specifically for the production of oil and other products such as gel-caps, tinctures, pre-filled cartridges a...