The deal gives CannMart Labs its own license to use Phyto trademarks on an array of cannabis products
CannMart Labs Inc, a subsidiary of Namaste Technologies () (OTCMKTS:NXTTF), the cannabis product platform, is gaining further traction by forging a licensing agreement with Phyto Extractions, another Canadian cannabis company.
The deal gives CannMart Labs its own license to use Phyto trademarks on an array of cannabis products, including cannabis vaporizing pen cartridges, batteries, cannabis capsules and cannabis tincture bottles and jars.
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“Phyto Extractions is an established brand name in the Canadian cannabis marketplace and we welcome their innovative products to the CannMart everything cannabis store and distribution channel,” said Meni Morim, CEO of . “Competition is heating up in Canada with the upcoming launch of cannabis derivative products following recent regulations referred to as Cannabis 2.0 and Namaste is committed to working with leading cannabis brands, such as Phyto, to get high-quality products to customers.”
Namaste will add Phyto’s suite of products to its online marketplace CannMart – Canada’s online ‘everything cannabis store’, a move that will rachet up its online sales. Phyto products are set to be unveiled on CannMart.com on December 17.
Set up over five years ago, Phyto Extractions is a premium-grade cannabis company which won first place in the Karma Cup, a medical cannabis competition, in 2015.