The cannabis-focused, e-commerce tech company, said it “looks forward” to leveraging VendorLink, it's marketplace technology, in collaboration with PeakBirch Logic
() () (FRA:M5BQ) revealed on Thursday that it has further expanded into the US through CannMart.com with sales of hemp-derived CBD.
In a statement, the Toronto-based cannabis-focused, e-commerce technology company, said it “looks forward” to leveraging VendorLink, its marketplace technology, in collaboration with e-commerce technology group PeakBirch Logic Inc.
The company previously announced through an appropriate affiliate, the sale of accessories permissible under applicable US state laws. “The announcement of this further expansion in the US underscores Namaste's intention to increase its total addressable market and exploration into other verticals as regulation evolves,” said Namaste.
READ: Namaste Technologies is in discussions with DankStop to enter the US market
The company is targeting a go-live date for US customers at CannMart.com by the end of this fiscal quarter.
"We first announced our 24-month collaboration arrangement with PeakBirch in September 2020 including the possible development of business in the US and we are delighted to see the first fruits of that collaboration today," said Namaste Technologies CEO Meni Morim.
"With the changing regulatory landscape improving in the US, our recent announced proposed entry into the US through the sale of accessories fulfilled by DankStop, and now this proposed entry into the US hemp derived CBD market, we continue the execution of our strategy to position Namaste as a leading global cannabis company and look forward to building on this positive momentum.”
Morim said the development also “further validates” the firm’s investment in technology, as the proposed expansion will be facilitated via the firm’s marketplace technology.
“We are looking forward to launching more vendors onto the platform," added Morim.
PeakBirch CEO Marc Mulvaney said the company is “delighted” to collaborate with Namaste and join their VendorLink platform to offer hemp derived CBD in the US at CannMart.com.
"We see great potential in the marketplace to open up our brands to new customers in the US," added PeakBirch.
Separately, the company said CEO Meni Morim will be presenting at the NobleCon17 investor conference on January 20 at 3:45 pm ET discussing this new opportunity and the firm’s US expansion. The conference this year is both virtual and free.
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