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    LFST   CA53228D1069


SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Namaste Technologies : says Phyto Extractions shatter now available nationally for medical consumers

05/26/2021 | 09:05am EDT

Namaste Technologies Inc (CVE:N) (FRA:M5BQ) (OTCMKTS:NXTTF) has said that its CannMart Inc subsidiary is now distributing Phyto Extractions Inc's (CSE:XTRX) well-known shatter products nationally for its medical consumers at CannMart.com.

The Toronto-based cannabis-focused e-commerce giant said that CannMart, which holds exclusive distribution rights to all Phyto Extractions products, will in all likelihood soon distribute the shatter products to recreational consumers through 'anticipated future sales to provincial monopoly wholesalers.'

A favourite among Cannabis enthusiasts, the shatter launches are with three of the most popular cannabis strain extracts on the market: Pink Kush, Blueberry Gorilla and Death Bubba

READ: Namaste Technologies looks to become the 'Amazon of cannabis' with its integrated, intelligent cannabis experience

'CannMart medical patients are easily able to purchase Phyto Extractions products from the comfort of their home and have them delivered directly to their door once they have received their medical document,' noted Namaste.

'We are pleased to offer cannabis consumers high-quality shatter products from Phyto. Shatter is a specialized subcategory of concentrate products, which is currently underserved, and has higher margins. The Phyto brand carries significant legacy cache when it comes to this subcategory, all combined, making this product expansion a compelling growth opportunity,' Namaste CEO Meni Morim said in a statement.

'While these products are available now for medical customers, we expect them to be available on the recreational market shortly. We have already received confirmations and approvals for SKUs in hand and purchase orders in process of finalization with certain provinces - all wanting this new product line available for their consumers,' he added.

Phyto Extractions' shatter is a well-known cannabis extract in its purest form, with over 70% THC, negligible CBD content, and an effect that is said to outperform other extracts. Extracted with butane to preserve cannabis terpenes, both shatter's fast-acting onset and natural derived terpenes that maintain and enhance the natural flavour of the extracted plant are unique selling points that are highly regarded by medical and recreational consumers.

'These products are anticipated to be available shortly via CannMart's wholesale distribution channel in Alberta, Saskatchewan, Manitoba, British Columbia and Ontario to recreational customers, looking for a desirable experience with cannabis concentrates,' noted the company.

Phyto Extractions has upgraded its facility with the new ExtractionTek Solutions MeP XT70 hydrocarbon extraction system to ensure all its shatter products are pure, safe and consistent to maximize the consumer experience. Investors can tour Phyto Extractions facility and watch how shatter is made HERE

Contact the author Uttara Choudhury at uttara@proactiveinvestors.com


Namaste Technologies Inc.

Meni Morim


Edward Miller



Ph: 647-362-0390

Email: ir@namastetechnologies.com

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
ADASTRA HOLDINGS LTD. 3.64% 1.14 Delayed Quote.-20.29%
LIFEIST WELLNESS INC. 4.17% 0.125 Delayed Quote.-40.00%
09/16LIFEIST WELLNESS : Announces Debut of New Ticker 'LFST' on TSX Venture Exchange
09/15NAMASTE TECHNOLOGIES : Lifeist Wellness Begins Trading TSX Venture Exchange
09/15NAMASTE TECHNOLOGIES : Lifeist Wellness Announces Debut of New Ticker “LFST” o..
09/15Namaste Technologies Inc. will Change its Ticker to LFST from N
09/15Namaste Technologies Inc. will Change its Name to Lifeist Wellness Inc
09/09NAMASTE TECHNOLOGIES : Confirms Corporate Name Change to Lifeist Wellness
09/09NAMASTE TECHNOLOGIES : Continues Evolution to Wellness and Confirms Corporate Name Change ..
09/03NAMASTE TECHNOLOGIES : Down 3% as Subsidiary CannMart Labs Completes Test Batches for Comm..
09/03NAMASTE TECHNOLOGIES : Subsidiary CannMart Labs Completes Test Batches for Commercial Prod..
09/03NAMASTE TECHNOLOGIES : Provides Corporate Update
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Sales 2020 25,1 M 19,9 M 19,9 M
Net income 2020 -26,2 M -20,8 M -20,8 M
Net cash 2020 9,90 M 7,83 M 7,83 M
P/E ratio 2020 -2,90x
Yield 2020 -
Capitalization 49,9 M 39,4 M 39,5 M
EV / Sales 2019 4,38x
EV / Sales 2020 2,64x
Nbr of Employees 21
Free-Float 99,0%
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Meni Morim Chief Executive Officer & Director
Slava Klems Chief Financial Officer
Branden Spikes Chairman
Chad Agate Chief Technology Officer
Faraaz Jamal Chief Operating Officer
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