Pure Global Cannabis (TSX.V: PURE) (OTC: PRCNF) (FRA: 1QS) recently signed a supply agreement with Namaste Technologies (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) to offer its products on Namaste’s online marketplace.
Under the agreement, Pure Global will list cannabis products of its PureSinse subsidiary on Namaste’s online marketplace called CannMart.
Ontario, Canada-based Pure Global is an integrated growth-oriented sciences and consumer products cannabis company that operates through subsidiary PureSinse. The company is focusing on producing branded and white-labeled cannabis products for the medical, pharmaceutical, wellness, health and beauty, natural health, food and beverage, craft, and recreational legal markets.
Pure Global believes that the agreement will boot their distribution capabilities. By listing on CannMart’s direct-to-consumer platform, PureSinse will be able to easily distribute their medical cannabis products across Canada, according to a company statement.
CannMart’s direct-to-consumer platform uses a fee-based model based on consignment. The model allows CannMart to manage working capital while licensed producers (LPs) are able to maintain their branding and customer loyalty. The marketplace has supply agreements with 15 LP’s, over 39 strains, and 170 SKU’s. Outside of Canada, the company has existing supply relationships in Columbia and Australia, with imports pending government approval.
“We are incredibly excited about this recent agreement with Namaste, as their CannMart platform truly shares our goals and values. As a medical cannabis distributor, we are always working to make it easier for patients to access high-quality Health Canada approved product. We look forward to providing even more customers across Canada with PureSinse’s high-quality products now also available through CannMart’s online platform,” Pure Global CEO and President Malay Panchal stated.
