Namaste said its potential partnership with DankStop should allow it to expand to other verticals as well as adjacent complementary markets in the US
() () (FRA:M5BQ) said it is collaborating with online smoking supply retailer DankStop to enter the US market by leveraging CannMart.com’s proprietary VendorLink platform.
The Toronto-based company said that its online cannabis platform CannMart is targeting to go live in the US by the end of the current fiscal quarter.
Namaste noted that it plans to use this expansion as a beachhead into the US, beginning with the sale of accessories permissible under applicable state laws, while exploring expansion to other verticals as well as adjacent complementary markets.
“We applaud the US government's recent decision to support the removal of cannabis and cannabis resin for medical purposes from Schedule IV of the UN Single Convention on Narcotic Drugs of 1961, and we are very pleased to collaborate with the exceptional DankStop team, which has become one of the world's largest and fastest growing online smoking supply retailers,” said Namaste Technologies CEO Meni Morim in a statement.
READ: Namaste Technologies looks to become the ‘Amazon of cannabis’ with its integrated, intelligent cannabis experience
He added: “We have worked tirelessly these past couple of years to build the technological infrastructure at CannMart.com, and we are excited to explore the many opportunities available to Namaste to expand globally.”
“With the changing regulatory landscape improving in the US and our entry through the sale of accessories fulfilled by DankStop, 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.”
DankStop CEO Feliks Khaykin also weighed in on the announcement, stating: “DankStop has been focused on continuing its execution of growth through its leading and innovative website, offering the largest product selection for the online smoking supply industry.”
He added: “We are pleased to be working with the Namaste team as we mutually share the entrepreneurial passion both companies have towards growth through innovation.”
Namaste Technologies also announced that its CEO Mr. Meni Morim will present at NobleCon17 – Noble Capital Markets Seventeenth Annual Conference on Wednesday, January 20, 2021 at 3:45 p.m. Eastern Standard Time. The conference this year is virtual, with no cost, obligation or restrictions to attend: www.noblecon17.com.
It added that a high-definition, video webcast of the presentation will be available the following day on the company's website, and as part of a complete catalog of presentation to be rebroadcast on Channelchek next month.
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