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Namaste Technologies Announces Proposed Transaction to Take Ownership of CannMart Labs to 100%
Namaste Technologies Announces Proposed Transaction to Take Ownership of CannMart Labs to...
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[{"type":"text","content":"\n \n \n \n Namaste Technologies Announces Proposed Transaction to Take Ownership of CannMart Labs to 100%\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n TORONTO, Nov. 18, 2020\n \n \n \n \n \n ~Namaste to acquire remaining 49% of CannMart Labs as it works through the final phase of its application for a processing licence from Health Canada~\n \n \n \n \n TORONTO\n \n ,\n \n Nov. 18, 2020\n \n /CNW/ -\n \n Namaste Technologies Inc. (\"Namaste\" or the \"Company\")\n \n (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF), a leading platform for cannabis products, accessories, and education, is pleased to announce it has entered into a share purchase agreement (the \"\n \n Share Purchase Agreement\n \n \") to acquire the remaining 49% interest in CannMart Labs Inc. (\"\n \n CannMart Labs\n \n \"), an applicant for a processing licence under the Cannabis Act (\n \n Canada\n \n ) for cannabis extraction activities.\n \n \n \n \n \n \n \n \n \n \n Transaction Highlights:\n \n \n \n \n Namaste to acquire remaining 49% of CannMart Labs to 100% ownership\n \n \n CannMart Labs facility in\n \n Ontario\n \n is completed for BHO extraction using leading extraction technology, making it one of only a few facilities in\n \n Canada\n \n with such capabilities\n \n \n Application in final phase for a processing licence from Health Canada\n \n \n Set to produce in-house branded Cannabis 2.0 products for medical channel customers at CannMart.com and recreational customers across\n \n Canada\n \n through sister company CannMart Inc.'s network of provincial sales partners\n \n \n Cannabis 2.0 products initially planned include shatter and live resin with capabilities to expand future distillate product offerings to vape cartridges, gel capsules, tinctures and edibles\n \n \n \n In\n \n May 2018\n \n , Namaste acquired a 51% interest in CannMart Labs and agreed to finance the construction of its facility in\n \n Etobicoke, Ontario\n \n , a purpose-built oil extraction facility which incorporates a leading extraction technology ...