Namaste Announces Record-Breaking November 2018 Revenue

Namaste Announces Record-Breaking November 2018 Revenue

Namaste Technologies Inc. (“Namaste” or the”Company”) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) is very happy to announce record-breaking unaudited gross revenue of over $2.6 Million across its global online platform, representing approximately 52% growth from October 2018 and roughly 30% growth year-on-year after excluding US revenue derived during the month of November 2017. Following a successful Black Friday during Cyber Monday holiday weekend and with strong sales through November, the Company anticipates seeing strong revenue in December and into the new year. November revenue derived through Namaste’s global platform was almost entirely from the sale of vaporizers and smoking accessories. The Company was focused on cannabis sales through its wholly-owned subsidiary, Cannmart Inc. (“Cannmart”), Canada’s first medical cannabis sales-only licensed issued to a non-cultivator and an online market where medical patients can buy medical cannabis sourced from a variety of producers across Canada. By expanding on the product offering through Cannmart, the Company anticipates building its platform to represent the most diverse offering of high-quality cannabis products available from the Canadian marketplace. Cannmart recently announced the launch of same-day delivery within the Greater Toronto Area by its partners at Pineapple Express Delivery Inc. (“Pineapple Express”) which was well received by its sufferers. Cannmart is happy to have also launched pre-rolled cannabis products in its stage and will be adding cannabis oils to its stage in the near future. The purchase of Buds2go.ca is significant the domain holds strong organic search rankings with more traffic than Cannmart. The Company recently announced its strategy to secure supply channels through future micro-cultivators, subject to the regulations Cannabis Act, and plans to provide the largest assortment of craft cannabis products through Buds2go.ca. The Company plans to import medical cannabis to the Canadian marketplace through strategic distribution agreements with Good Manufacturing Procedure (“GMP”) certified international cultivators, subject to approval by Health Canada. Moreover, Namaste is focused on launch cannabis sales within its global markets where the Company maintains strong market share like the UK. Namaste’s database of consumers through its vaporizer and accessory business spans across 20 nations. By leveraging its online platform and more than 1.5 million consumers globally, the Company is well-positioned for long-term growth within the cannabis industry. Namaste anticipates strong growth over the holiday season and into the new year. Management Commentary:Sean Dollinger, President, and CEO of Namaste comments:”We are very excited to report record-breaking revenue for the month of November. This is the busiest season for e-commerce businesses worldwide, and we are proud to be a leader in the cannabis e-commerce and technology space. By expanding our medical cannabis platform through Cannmart, we anticipate strong growth in cannabis sales and hope to see cannabis revenue surpass our hardware sales in 2019. This anticipated growth, together with our hardware business which continues to expand, will make 2019 an exciting time for Namaste. Thanks to our management team, employees and most importantly our loyal investors for their support.” About Namaste Technologies Inc.. Namaste Technologies is Your Everything Cannabis Store&commerce;. Namaste operates the largest global cannabis e-commerce platform with more than 30 websites in 20+ countries under various brands. Namaste’s product offering through its subsidiaries includes vaporizers, glassware, accessories, CBD goods, and the company will soon be selling medical cannabis from the Canadian market. Namaste has developed and developed innovative technology platforms such as NamasteMD.com, Canada’s first Health Canada compliant telemedicine application, and in May 2018 the Company obtained a leading e-commerce AI and Machine Learning Company, Findify AB. Findify uses artificial intelligence algorithms to optimize and personalize a consumer’s on-site buying experience. Namaste is focused on using its cutting-edge technologies to improve the user experience during its platforms.  Namaste will continue to develop and acquire innovative technologies which will provide value to the Company and to its shareholders as well as to the broader cannabis market. These statements should not be read as guarantees of future performance or results. Although such statements are based on management’s reasonable assumptions, Namaste assumes no duty to update or revise forward-looking data to reflect new events or circumstances unless required by law. Although the Company believes that the assumptions and expectations on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements since the Company can give no assurance that they will prove to be right. 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 including various risk factors discussed in the Company’s disclosure documents which may be seen under the business’s profile on www.sedar.com. This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Published at Mon, 03 Dec 2018 13:32:38 +0000

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