Namaste offers Canadian medical customers on CannMart.com with an array of hand-picked products from a variety of federally licensed cultivators
Namaste Technologies Inc (CVE:N) (OTCMKTS:NXTTF) (FRA:M5BQ) said it has added more than 550 new stock-keeping units (SKUs) to its CannMart, cannabis and wellness marketplace platform over the past three months.
On CannMart.com, Namaste offers Canadian medical customers with an array of hand-picked products from a variety of federally licensed cultivators.
The company also services the US market with access to hemp-derived CBD and smoking accessories.
READ: Namaste Technologies subsidiary CannMart applies for psychedelics dealer’s license in Canada
Some of the new products offered to Canadians include: Bello Vapor Tap, Emprise, Heritage Cannabis, Kalaya, KUSHKRAFT and Lumiera Health’s Awaye.
The company also noted that it has received a record number of requests from vendors across North America to list their products on the CannMart.com platform. The adoption and integration is a clear statement that the CannMart.com marketplace platform can make a valuable differentiated distribution channel, it said.
Aside from the uptick in vendor registration, Namaste is also working to reduce its carbon footprint through reduced overheads. The company reported the successful subleasing of its Toronto office. The cannabis-focused firm said it will now switch to a remote workplace model for its corporate staff.
"We are a global company that hires the best talent irrespective of their location,” Meni Morim, CEO of Namaste said in a statement. “Furthermore, we are committed to reducing our carbon footprint as part of developing Environmental, Social and Governance (ESG) plans, appreciating that ESG is increasing in importance to all stakeholders.”
This strategic move is set to save the business approximately $138,000 annually.
Another aspect of the update included a decision on award grants and the company's overall remuneration package.
As a result, Namaste said its board of directors had approved the granting of an aggregate of 311,250 stock options to officers and a consultant of the company, which are exercisable into common shares of Namaste at a price of $0.25 per common share.
This is in addition to the previously granted 735,800 stock options to non-officer employees and a consultant of the company.
The stock options granted to officers and employees have a term of four years in equal tranches every six months over three years from the applicable grant date and will expire on June 13, 2025 and May 5, 2025 respectively.
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