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Cannabis Summary for Feb. 11, 2020

2020-02-11 19:44 ET - Market Summary

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by Stockwatch Business Reporter

The S&P/TSX Cannabis gained 3.43 points to 181.16 Tuesday, while the Canadian Securities Exchange Composite Index lost 3.9 points to 386.83. Meni Morim's Namaste Technologies Inc. (N) gained a cent to 55 cents on 1.75 million shares after its subsidiary, CannMart Inc., added a premium craft cannabis brand called Kief Cannabis Co. to its list of available products. "Premium products at a premium price" is how Namaste describes the brand. (Namaste holds a minority interest in Kief.)

CannMart is Namaste's on-line medical cannabis "marketplace," so Kief will be available on-line. The website offers marijuana ranging from $3.20 to $14 a gram right now, compared with the legal average of $10.23 (in Q3). CannMart also signed a supply deal with Alberta Gaming, Liquor & Cannabis (AGLC), Alberta's agency that is in charge of regulating and distributing cannabis to licensed dispensaries. CannMart has supply agreements in British Columbia, Manitoba, Saskatchewan and Ontario as well.

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