Shares and warrants of Namaste Technologies Inc. (CSE:N) (OTC:NXTTF) were just halted by the Investment Industry Regulatory Organization of Canada due to "Pending News." The pending news, according to Health Canada's website, is that Namaste's CannMart Inc. was granted its production license.
CannMart recently submitted its Affirmation of Readiness and video evidence package to Health Canada, which Namaste announced on March 5th. The next step will be CannMart's sales license.
Namaste has been preparing for this for months having signed both a Letter of Intent with licensed producer Emerald Health Therapeutics Inc. (TSXV:EMH) (OTC:EMHTF) and a Supply Agreement with licensed producer The Supreme Cannabis Company, Inc. (TSXV:FIRE) (OTC:SPRWF) back in January.
For those not familiar with CannMart, it was added into Namaste's portfolio last year via acquisition, and it "operates as a subsidiary that allows [Namaste] to engage in distribution of medical cannabis through [the company's] Toronto location."
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