News Details – Smallcapnetwork
Namaste' Run Continues - Gridiron Changes Name and Symbol
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February 2, 2024

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PDT

Everyone ready for the Holidays? If I've got anything to do with it, Amazon (AMZN) is going to have a great earnings report early next year. I've literally bought just about every present on Amazon's site this year. Boy have things changed over the last ten years. But, it's pretty exciting stuff and definitely an exciting time to be an investor in the stock market. Stocks are still on a tear, and we got some news on a few of our featured stocks over the last few days. It's Namaste Technologies Inc. (OTCBB: NXTTF) (CSE: N.CN) though that's been the big runner on its news. Just yesterday, the company announced a Letter of Intent (the "LOI") with Supreme Pharmaceuticals Inc. ("Supreme") (FIRE.V) (SPRWF). The LOI, signed by Supreme's wholly owned subsidiary, 7ACRES, and Namaste's wholly owned subsidiary, Cannmart Inc. ("CannMart"), provides that Supreme will supply CannMart with a premium range of high quality dried cannabis flower which will be offered in the Company's medical marketplace. Supreme is focused on producing high quality cannabis through a commitment to carefully curated genetics, quality focused cultivation practices and a post-harvest process that includes a 14-day whole plant drying process and hand finishing of each flower.  Under the terms of the LOI, Namaste has committed to work with Supreme as a preferred vendor as related to possible branded partnerships, in addition to supply for Namaste's in-house branded medical cannabis.  All Supreme cannabis will bear the 7ACRES producer's mark. Namaste believes that Supreme's Business to Business (B2B) distribution model fits well with Namaste's focus on becoming Canada's leading online retailer for medical cannabis. Other terms of the LOI include: Purchase orders to be submitted accompanied by terms and conditions governing the purchase and sale of medical cannabis in accordance with Canada's Access to Cannabis for Medical Purposes Regulations ("ACMPR") All products sold by 7ACRES to CannMart will be in accordance with ACMPR, 7ACRES Standard Operating Procedures (SOP) and GMP Practices 7ACRES will provide all product descriptions and photography to be used with respect to the sale of 7ACRES products through CannMart CannMart will display 7ACRES trade-mark on all packaging in connection with the sale of any 7ACRES products through CannMart's website 7ACRES shall be CannMart's preferred supplier of premium dried cannabis flowers as it relates to celebrity endorsements in partnership with CannMart and Namaste All shipping costs shall be borne by CannMart The LOI represents further progress for Namaste in securing this supply agreement with one of Canada's leading producers of premium quality cannabis. Namaste will focus on offering the largest variety of medical cannabis products, sourced from both domestic and international licensed producers. Management feels strongly that the Company's relationship with Supreme will offer great value with Supreme's focus on cultivation while Namaste intends to become Canada's largest online retailer for medical cannabis through the implementation of its telemedicine application, NamasteMD, built as a patient acquisition tool for Namaste to leverage its growing database of Canadian site visitors and offering an extensive variety of medical cannabis products to CannMart's patients. Sean Dollinger, President and CEO of Namaste comments: "We are very pleased to be working with Supreme, who we believe to be one of the top Canadian producers of premium quality cannabis. Our goal is to create an online marketplace for our patients that will offer a variety of products sourced from various licensed producers in Canada and overseas. We believe that our relationship with Supreme will be of significant value as their business model fits well with ours. Thanks to Supreme's management team for their support and we look forward to launching medical cannabis sales through CannMart in the early new year." The new just keeps getting better for Namaste, and it's sure being reflected in its stock. Like I said when we first started covering the company for the second time weeks ago, this is one potential Canadian cannabis play we believe to be well worth considering. It sure hasn't disappointed, up about 50% since covering it the second time around, and up about 500% since the first time a year or so ago. If you don't like that, then you don't like much. It just goes to show what small stocks are capable of when they show investors they have the ability to fundamentally deliver. In other news, we finally see the highly anticipated name and symbol change for My Cloudz, Inc. (OTCBB: MYYZ), which has now become Gridiron BioNutrients, Inc. (OTCBB: GMVP) to reflect the company's new focus and business development initiatives. What the company did before doesn't matter anymore, as Gridiron is now focused on the development and commercialization of high quality innovative CBD products within the health and wellness marketplace; Gridiron strives to formulate and design products that maximize the human body's potential to enable individuals to heal faster, train longer and recover quicker. When we first started covering Gridiron, there wasn't much in the way of exposure out there. However, the stock is finally starting to get more liquid, as more and more investors are starting to discover the company's potential opportunity now. There's no question Gridiron is in a hot space - with the entire cannabis and specifically CBD space starting to garner a lot more attention here in the U.S. now. Although we still think the better pure cannabis stocks reside up in Canada, GMVP is clearly an exciting play in the CBD space here in the U.S. as the legalities surrounding the proper extraction and use of CBD here in the U.S. is much farther along than the potential approval of the psychoactive compound in THC - at the federal level anyway, because here in California, and certain other states, have already approved THC for recreational use.