Namaste Technologies Inc. (TSXV:N), a Canadian marijuana stock, announced a distribution agreement with California’s fastest-growing cannabis brand Lowell Herb Co
SmallCapPower | June 12, 2018: Namaste Technologies Inc. (TSXV:N), a Canadian marijuana stock, announced recently that it has signed a supply and distribution agreement with Lowell Herb Co. to launch Lowell Smokes brand of ultra-premium cannabis products for the Canadian recreational and medical cannabis markets. Namaste Technologies will work with Lowell Smoke’s procurement team to source the highest-quality cannabis grown with organic methods and facilitate packaging and distribution through the Company’s wholly-owned subsidiary, Cannmart Inc. The Company anticipates a strong demand for organic cannabis products as the general consumer market becomes more conscious of the products they consume.
In anticipation of Canada’s roll-out of legal recreational cannabis, the deal represents a strategic partnership between Namaste Technologies and Lowell Smokes to leverage Namaste’s resources and Lowell’s international brand appeal.
California is considered by many to be the most competitive cannabis brand market in the world. Lowell Smokes has established itself as one of the strongest brand names in California and within the entertainment industry and its ties to Hollywood have played a key role in supporting the brand and making it ideally suited for international expansion.
As per the recent BDS Analytics report, Lowell Smokes ranked as the #1 pre-roll brand in California amongst more than 50 other brands listed, with an impressive 12% market share. Lowell Smokes is in over 250 top dispensaries across the entire state of California. With celebrities like N.O.R.E, Snoop Dogg, Jimmy Kimmel, Sarah Silverman, Bella Thorne, Bria Vinaite, Sasha Lane and dozens of others talking about the brand and posting content on social media, this partnership should bring a substantial value add to Namaste Technologies and its shareholders. Canadian marijuana stock Namaste Technologies currently trades at a market capitalization of $432.13 million.
Disclosure: Neither the author nor his family own shares in the companies mentioned above.
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