Roilty’, its consumer-focused Cannabis 2.0 product, will be positioned as a high-end, accessible mainstream brand
() () (FRA:M5BQ) announced that it has launched its Cannabis 2.0, consumer-focused recreational house brand, ‘Roilty’ through its wholly-owned subsidiary CannMart Inc.
Namaste said Roilty will be positioned as a high-end, accessible mainstream brand and CannMart will launch new products such as live resin targeted to be available in February, followed by rosin, shatter, crumble and wax in successive quarters.
“We are excited for the launch of our in-house brand ‘Roilty’ as we see an increasing demand for additional 2.0 products with a strong value proposition,” 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 are working hard towards receiving our processing licence from Health Canada and look forward to producing our in house branded Cannabis 2.0 products, for our medical channel customers at CannMart.com and recreational consumers across Canada through our network of provincial sales partners.”
“We are clearly focused on the execution of our strategy to position Namaste as a leading cannabis company and look forward to building on this positive momentum in 2021.”
Namaste noted that with its recent acquisition of CannMart Labs it now has the capability to develop high-quality products that are in high demand at a lower price than its competitors.
It added that its CannMart Labs facility in Ontario is completed for butant hash oil (BHO) extraction technology, making it one of only a few facilities in Canada with such capabilities.
The facility is set to produce in-house branded Cannabis 2.0 products for medical channel customers available at CannMart.com and recreational customers across Canada through sister company CannMart's network of provincial sales partners.
The Cannabis 2.0 products initially planned include vape cartridges, live resin and shatter, with capabilities to expand future product offerings to include rosin, capsules, tinctures and edibles.
The company also said CannMart will launch its high-margin Phyto 1-gram vape carts, which it expects will be in high demand as it anticipates a shift in consumer preferences from 0.5-gram to 1-gram vape carts.
Namaste added that a purchase order from a province has been received for two of its best-selling strains, Blueberry and Pink Kush.
It also introduced two new strains, Grapefruit Haze and Green Apple, based on consumer demand feedback.
As well, Namaste Technologies reported that it has retained Venture Liquidity Providers Inc (VLP) to initiate its market-making service to provide assistance in maintaining an orderly trading market for the company’s common shares, agreeing to pay VLP $5,000 per month for a period of 12 months.
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