Namaste stock has had a rocky start to 2019. Selling for $0.72 USD and down -1.72% at the time of writing, Namaste Technologies (TSXV:N) (OTCQB:NXTTF) has fallen on tough times since former CEO Sean Dollinger departed the company.
Despite this, Namaste stock could be offering investors an opportunity if they are willing to hold through the rocky patch. A recent acquisition is giving it significant entry into the edibles sector. Arming itself for a lucrative arm of the cannabis industry, Namaste Technologies might become the "Amazon of cannabis" yet.
Namaste Stock
Recently, Namaste bought a 49% stake in Calgary-based chocolate company Choklat. The aim of this acquisition is to gain exposure to the Canadia cannabis-infused edibles market.
Paying out $1.5 million CAD to Choklat, Namaste now has access to the company's online distribution platform where it will soon add a line of cannabis-infused edibles once Canada legalizes this arm of the industry later this year.
Edibles sales are expected to begin in October of this year once the government works out the rules and regulations surrounding the market. It, as stated, is a lucrative arm of this industry with sales estimated to hit $4 billion CAD by 2020. With that in mind, now is the time for any cannabis company that wants a slice of this lucrative sector to invest in development.
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Choklat and Namaste
Choklat is a suitable choice for Namaste, and one that may help its stock. It is an artisan chocolate maker and is the only "bean-to-bar" maker in Alberta. It recently entered a supply agreement with Sobeys and its chocolate is available in 25 stores across the province.
The company is also keen to infuse its chocolate with THC and CBD. Choklat CEO Brad Churchill said he began research on the subject two years ago:
"My research led me to discoveries which, when legal, will allow us to infuse both THC and CBD into chocolate and sugar in such a way that there is absolutely no discernible 'weed' flavor or smell, and with a dosage accuracy that is almost pharmaceutical-grade."
Namaste Technologies will begin distributing its new line of THC/CBD infused products through its online CannMart e-commerce platform once legally able.
Namaste stock has a lot further to climb, but this partnership is one step in the right direction for the company. Are you ready for the cannabis edibles market?
Featured Image: Canva
