Namaste to get a sweet taste of the edibles market with intended $1.5 million acquisition

Angela Stelmakowich - thegrowthop.com Posted 5 years ago
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Namaste Technologies Inc. has entered into a share purchase agreement to acquire 49 percent of the issued and outstanding shares of Calgary-based Choklat Inc. for $1.5 million in cash consideration.

 

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Choklat—currently the only bean to bar chocolate maker in Alberta and the largest premium craft chocolate maker in Canada—recently entered into a supply relationship with Sobeys, reports Namaste Technologies, which strives to provide the ultimate online customer experience for medicinal cannabis and related products. The company already has product in 25 stores in Alberta, with a goal to roll out in Western Canada and beyond in the coming months, the press release notes.

Additionally, “Choklat has hired industry experts Cannabis Consulting Inc. to assist with the procurement of a Health Canada federal processing licence,” the statement notes.

As a premium chocolate manufacturer with existing sales through its online eCommerce site and through a network of distributors, “Choklat is a great acquisition for us with a vast offering of existing products that can be easily infused with THC or CBD and sold as edibles,” comments Meni Morim, interim CEO of Namaste Technologies.

 

 

“Their small batch manufacturing model is a great fit within the new proposed regulations for edible cannabis products. This transaction provides the security of supply and manufacturing for our medicinal cannabis customers and provides capacity for the recreational market in the event proposed regulations are passed,” Morim says.

“Choklat will aim to make products for CannMart and expand its target market to include the overall cannabis space,” says company founder and CEO Brad Churchill.

“As one of the only chocolate makers in Canada, I had access to equipment and processes that other chocolatiers and confectioners don’t have,” Churchill points out. “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’ flavour or smell, and with a dosage accuracy that is almost pharmaceutical grade,” he claims.

 

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