TORONTO — CannMart Labs Inc. has entered into an exclusive licensing agreement with B.C.-based cannabis company Phyto Extractions to use its trademarks on certain cannabis products such as vaporizing pen cartridges and batteries; capsules; and cannabis tincture bottles and jars.
CannMart Labs is a subsidiary of Namaste Technologies Inc., an online platform for cannabis products based in Toronto.
The agreement provides that until CannMart Labs obtains a production licence, it may assign such rights to Namaste’s wholly-owned subsidiary CannMart Inc.
“Competition is heating up in Canada with the upcoming launch of cannabis derivative products following recent regulations referred to as Cannabis 2.0 and Namaste is committed to working with leading cannabis brands, such as Phyto, to get high-quality products to customers,” said Meni Morim, CEO of Namaste Technologies Inc. “Phyto has a history in the Canadian marketplace and is well known with our current customer base. Namaste expects this product recognition to drive future sales with existing and new customers on the CannMart website and throughout our network of government partners.”