Cannmart acquires

1 minute read
03 December 2018

On Dec. 3, 2018, Namaste Technologies Inc. (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) announced that its wholly-owned subsidiary, Cannmart Inc., had acquired the domain from 1181530 BC Ltd. Cannmart purchased the domain along with social media accounts and all intellectual property in connection therewith, including trademark applications, in exchange for a cash payment of $300,000. The acquisition of is significant because the domain holds strong organic search rankings with more traffic than Cannmart.

Namaste operates the largest global cannabis e-commerce platform with over 30 websites in 20+ countries under various brands. Namaste's product offering through its subsidiaries includes vaporizers, glassware, accessories, CBD products, and medical cannabis in the Canadian market.

Gowling WLG advised Namaste in this acquisition with a team led by Peter Simeon and that included Stephen Franchetto (corporate/M&A), Natalie Rizkalla-Kamel and Jasleen Chahal (IP), and Paul Carenza (tax).

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