600 craft cultivators economy of scale
Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) is pleased to announce the launch of its Craft Cannabis Program with its preferred regulatory partners, Cannabis Compliance Inc. ("CCI"). The program is intended to provide support for craft cultivators who will apply for a micro-cultivator or micro-processor license under the Cannabis Act ("Micro Cultivators"). Namaste's wholly-owned subsidiary, Cannmart Inc. ("Cannmart") has initiated a program that offers both regulatory and financial support to Micro Cultivators in exchange for a Supply Agreement with the right of first refusal ("ROFR") on 100% of their production. Cannmart will launch a Craft Cannabis section on its website that will offer patients access to a large variety of premium-quality cannabis products sourced from small-batch producers.
Each Micro Cultivator will be allowed to grow cannabis up to 200 square meters (2152 square feet) of total canopy space. Each Micro Processor will be allowed to process up to 600kg of cannabis from their facility. By securing Supply Agreements with Micro Cultivators, Cannmart will provide its patients with access to many strains which have not yet been available in the regulated market. Cannmart's Craft Cannabis Program offers significant value for future Micro Cultivators not only by providing regulatory and financial support but also by providing a sales channel directly to consumers, with a healthy margin and national exposure. Craft growers across the country are now allowed to apply for a Micro Cultivator license under the new regulations of the Cannabis Act. As part of the Craft Cannabis Program, Micro Cultivators will have access to;