Namaste Technologies Inc (CVE:N, OTCQB:NXTTF) inked a deal with BlueSky Biologicals Inc to distribute its hemp-derived cannabidiol products in the United Kingdom and Europe.
Its subsidiary Namaste Bahamas will distribute BlueSky’s range of products, which includes dietary supplements, personal care, food and beverages and a pet care line.
Namaste brings its subsidiaries’ products to the online medical and recreational markets through its subsidiary Cannmart, an e-commerce cannabis platform.
“We have a well-established market in the UK and with recent changes in federal regulations we are now able to launch CBD sales into one of our strongest markets,” said Namaste CEO Sean Dollinger in the company’s press release.
The Vancouver-based company recently signed a wholesale supply agreement with Kief Cannabis Company Ltd, a producer of small-batch, artisan-crafted cannabis.
Namaste has plans to uplist to the Nasdaq in the hopes of reaching a larger audience of retail and institutional investors.
Shares of Namaste were up more than 2% to US$2.79 in Wednesday afternoon trading.