Namaste Announces Health Canada Processing License For Choklat

Namaste Technologies

TORONTO , Jan. 13, 2020 /CNW/ - Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV:N)(OTC:NXTTF)(FRANKFURT: M5BQ), a leading online platform for cannabis products, accessories, and responsible education today announced that Choklat Inc. ("Choklat"), an Alberta -based craft chocolate manufacturer and chocolatier in which Namaste holds a 49% equity position, has received a processing license from Health Canada to produce a line of chocolate bars, drink mixes and infused sugar.

"Receiving the processing license from Health Canada is a significant achievement and milestone," said Brad Churchill , CEO of Choklat. "We look forward to introducing our cannabis infused product line, products with a pure chocolatey taste with no aftertaste, across Canada leveraging the extensive B2B sales channels that CannMart Inc. has built. Our high-quality cannabis infused bars and beverages will be based on our own chocolate recipe made from a special cocoa bean sourced from the jungles of South America . This is an exciting time for Choklat, CannMart and Namaste as we enter the competitive cannabis 2.0 landscape."

"Brad Churchill is a true pioneer when it comes to the actual production of chocolate, and he is now applying his extensive experience and passion to produce high quality cannabis-infused chocolates," said Meni Morim , Chief Executive Officer at Namaste Technologies Inc. "We believe there is pent up demand for cannabis-infused edible products on a national scale. Choklat is one of the first food processors in Canada to receive its processing license from Health Canada and we expect their products to be on shelves in March, allowing for the Health Canada notice period. We invested in Choklat not only to maximize the significant market opportunity for cannabis-infused edibles but also because we see Brad as a true craftsman in his trade and the quality of his products speak for themselves."

The Cannabis Regulations require licenced processors to submit a notification to Health Canada of their intent to sell each novel cannabis product in Canada at least 60 calendar days before making such cannabis products available for sale. CannMart will be submitting up to 11 unique product SKUs to Health Canada for the new derivative product formats that the Company intends to offer for sale beginning in March. New products are expected to include dark, white and milk chocolate bars, chocolate-based beverages and infused sugar, that have been formulated, developed and packaged to meet the regulatory requirements set out by Health Canada. These new product formats will be added to Namaste's e-commerce website CannMart.com and offered through provincial cannabis stores in authorized markets.

What sets Choklat apart from other chocolatiers is that Choklat imports premium cocoa beans in the world, then roasts, grinds and refines them on-site into chocolate that meets exacting taste specifications. Creating the chocolate allows for complete control over the quality and taste of the final products which Namaste and Choklat believe provides an advantage over competitors. Namaste, CannMart and Choklat are all about treating customers with respect and integrity and using only the highest quality products and natural ingredients.

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