PeakBirch Logic Expands CBD Sales into B2B with Collaborative Agreement with Namaste Technologies
Vancouver, British Columbia--(Newsfile Corp. - January 14, 2021) - PeakBirch Logic Inc. (CSE: PKB) (FSE: KYH2) (OTC PINK: KTNNF) ("PeakBirch" or the "Company") is pleased to announce that it has entered a collaborative agreement with Namaste Technologies Inc. ("Namaste") which will enable PeakBirch to sell hemp derived CBD through CannMart.com, subject to Namaste receiving approval of the TSX Venture Exchange.
By partnering with Namaste, PeakBirch will gain a new revenue stream to include online B2B sales. PeakBirch is actively looking to expand sales to include other online B2B stores in both Canada and the United States. PeakBirch will be drop-shipping CBD and hemp-derived products for Namaste through its CannMart.com marketplace.
On December 20th, 2018 the U.S. passed the farm bill into law which included special provisions to legalize the cultivation, distribution and sale of Hemp derived products such as CBD. Since then the FDA has approved CBD products for various specific medical treatments. The market has seen exponential growth over the last two years, with growth from USD$620 million in sales in 2018 to USD$4.7 billion in sales in 2020, as reported by Brightfield Group.
"We see a lot of revenue potential in the CBD market and we are excited to be entering into a collaborative agreement with Namaste that will provide us with access to a whole new revenue stream but most importantly it marks a key milestone in our company's growth journey. PeakBirch has been working hard behind the scenes to develop key technologies that will enable it now and in the future to scale its B2B sales," says Marc Mulvaney, CEO of PeakBirch. "By leveraging our existing brand relationships and purchasing power we are well positioned to compete in the B2B space."
"We first announced our 24 month collaboration arrangement with PeakBirch in September, 2020 including the possible development of business in the USA and we are delighted to see the first fruits of that collaboration today," said Meni Morim, CEO of Namaste. "With the changing regulatory landscape improving in the USA and now this proposed entry into the U.S. hemp derived CBD market, we continue the execution of our strategy to position Namaste as a leading global cannabis company and look forward to building on this positive momentum. This development also further validates our investment in technology, as the proposed expansion will be facilitated via our marketplace technology and we are looking forward to launching more vendors onto the platform."
To learn more about PeakBirch's new collaborative agreement with Namaste, please contact PeakBirch using the information below.
Marc Mulvaney, CEO
Phone: (725) 218-3097
PeakBirch is a multi-brand management company providing services & related products to the cannabis industry that believes its strong focus on and investment in marketing, brand, education to help customers make sound purchasing decision, strategic brand partnerships, and a delivery software technology will create a business with the potential to generate a significant and sustained return on invested capital over the long-term.
About Namaste Technologies Inc.
Headquartered in Toronto, Canada, Namaste Technologies is a leading online platform for cannabis products, accessories, and responsible education. The Company's 'everything cannabis store', CannMart.com, provides medical customers with a diverse selection of hand-picked products from a multitude of federally-licensed cultivators, all on one convenient site. The Company also distributes licensed and in-house branded cannabis and cannabis derived products to recreational consumers in Canada through a number of provincial government control boards and retailing bodies and facilitates licensed cannabis retailer sales online in Saskatchewan. Namaste's global technology and continuous innovation address local needs in a burgeoning cannabis industry requiring smart solutions.
Information on the Company and its many products can be accessed through the links below:
Neither the Canadian Securities Exchange nor its regulations services provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the cost of goods to be sold under the Company's drop-shipping model, changes in government regulations or enforcement, the ability for the Company to expand its US operations or expand to international markets, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws. This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks various risk factors discussed in the Company's listing statement under the Company's profile on www.sedar.com.
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