It appears that the recent troubles experienced between Namaste Tech (TSXV: N) and its 49% interest in Choklat have come to a final tipping point. This evening, Choklat publicly announced via its Facebook page that the company has signed with Zenabis Global (TSX: ZENA) to “assist in taking our chocolate to market.”
While Zenabis has yet to announce the material development, it appears that the chocolatier was eager to release the news to its followers. Commenting on the announcement, the move is said to be effective immediately, with the company stating, “we have facilitated an expedient listing switch from our previous partner, and expect to be shipping our first batch of perfectly infused chocolate bars and sugar by the end of next week.”
It’s unclear at this time what will come of the 49% ownership currently held by Namaste in that of Choklat. The post made by the edibles producer provided no commentary on its ownership structure, aside from indicating that, “this deal puts the last piece of the puzzle in place for Choklat and its shareholders to score a big check mark in the win column for all of us.”
Namaste for its part announced earlier this week that CEO Meni Morim had resigned from Choklat’s board of directors, with no replacement appointee being named. Additionally, the company further announced that it’s subsidiary CannMart had cancelled currently pending purchase orders with the edibles manufacturer.
No public issuer has as of yet commented on the matter further.
Information for this analysis was found via Sedar, Choklat and Namaste Technologies Inc. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.