Looking at cannabis penny stocks, Namaste Technologies (TSXV:N) is, again, not reflecting the exciting company news. At the time of writing, N stock is in the red, selling for $1.44 and kicking off the week down 4%.
However, the company has launched its Craft Cannabis Program in conjunction with its regulatory partners Cannabis Compliance Inc (CCI). And that’s some news that should excite investors, as it equals another revenue stream for Namaste.
It will also mean new and exclusive craft marijuana for the connoisseurs among us.
Cannabis Penny Stocks: Namaste Technologies
The new program offers support for licensed craft cultivators. The permissible applicants must have applied for a micro-cultivator or micro-processor license under the Cannabis Act.
It will look like this: Namaste’s online store CannMart will offer these micro-cultivators both regulatory and financial support in exchange for a Supply Agreement. Namaste will also have the right of first refusal on 100% of their production.
For the customer, the result will be a new craft cannabis section on the CannMart online store, giving patients access to a large variety of premium-quality cannabis products sourced from small-batch ‘micro’ producers.
For the craft producers, CannMart’s Craft Cannabis Program provides a good deal of regulatory and financial support but also sales channels directly to consumers, with a healthy margin and national exposure.
There will be rules to Namaste’s Craft Cannabis Program, though:
- Micro Cultivators must operate under and up to total canopy space of 200 square meters.
- Micro Processors can only process up to 600 kilograms of cannabis.
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Because of the nature of the deal, CannMart will provide patients exclusive access to many strains that have yet to become available in the typical regulated market. This is a good move, as it creates exclusivity and gives truly unique strain options for the savvy cannabis user.
Is this Namaste’s version of the ‘marketplace section’ on a clothing website? A place showcasing one-off pieces and high-quality cuts from artisan retailers and makers. With an air of “once it’s gone…it’s gone!” wafting through the site?
I look forward to seeing if that is the case and if the cannabis penny stock reflects this new addition.
Importantly, this offers a helping hand for the ‘little guy’ in this busy cannabis industry that is so dominated by the big four. An outlet for the individual, small-time, craft producer is always a favorable middle-finger to the big-wigs in the industry.
Featured Image: Depositphotos/© peshkova
