CannaOne Technologies Update on CBD Marketplace Mexico

CannaOne Technologies (CSE:CNNA), a company that develops and markets digital tools to service different segments for the cannabis industry in Canada, with its flagship product BloomKit, is capitalizing on new southern market potential.

This morning, CannaOne Technologies issued an important update related to their soon-to-launch online CBD marketplace for Mexico in partnership with Manna Health Services.

As per the press release,  CannaOne is holding the final terms of the formal service agreement with Manna Health. The deal is planned to be a revenue sharing arrangement between both companies, subject to terms and conditions, which is expected to be fully clear in the coming weeks.

CannaOne CEO Solomon Riby-Williams said, “The Mexico CBD marketplace branded ‘Casa CBD’, will be the home of premium CBD products to service the massive Mexican market.  BloomKit, our proprietary software, will provide the technology foundation for this online buying platform and it is with extreme confidence that we look ahead to acting in our role as a critical service provider in the future of Casa CBD.”

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According to Marijuana Moment, lawmakers are scheduled to use the summer break; May 01 through August 31, to redraft legislation to legalize recreational marijuana throughout Mexico. This time period is very important considering the fact that the Supreme Court has directed an October deadline to develop a nationwide regulatory plan for cannabis and hemp.

On March 19th, CannaOne Technologies had announced entering into a formal agreement with Manna Health Services SA de CV of Mexico City, to undertake the development, launch, and operation of an industry-leading, online CBD product purchase and delivery marketplace for the country of Mexico. The agreement was signed on March 5, 2019, with a contract term of 36 months and an option to renew for an additional 60 months at the conclusion of the initial period.

CNNA stock has been doing very well over the past couple of weeks. The stock has jumped almost 90% on the Canadian Stock Exchange since April 22nd, 2019. Over the past year, CNNA stock has been moving within a range of $0.50-$1.84.

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