Namaste Technologies Inc (TSX-V:N, OTCMKTS:NXTTF) has entered into a wholesale supply agreement with Kief Cannabis Company Ltd.
As per the agreement, Namaste’s subsidiary Cannmart Inc will purchase bulk cannabis products from Kief Cannabis to sell on its e-commerce platform.
Based in Manitoba, Kief Cannabis develops artisan-crafted cannabis in small batches for the high-end recreational market.
“We believe that the online market for medical and recreational cannabis will evolve rapidly in Canada and that Namaste is well-positioned with extensive expertise to be the number one online platform for everything cannabis not only in Canada but globally,” said Namaste CEO Sean Dollinger in the company’s press release.
Namaste’s online cannabis marketplace has served more than 1.5 million customers and is looking to expand its portfolio of craft-style cannabis.
The Vancouver-based company recently signed an agreement with Cannvas MedTech Inc (CSE:MTEC) to share revenue generated through co-branding and marketing behind the its medical cannabis patient portal, known as NamasteMD, and the Canvass.me cannabis education platform.
Shares of Namaste rose nearly 4% to C$1.86 in Wednesday afternoon trading.