Namaste Announces February 2018 Sales of C$1.37M Representing a 146% Year-Over-Year Increase | CashCropToday
0 Shares 116 Views

Namaste Announces February 2018 Sales of C$1.37M Representing a 146% Year-Over-Year Increase

March 7, 2018
116 Views

On March 7, 2018, Namaste Technologies Inc. (CSE:N) (FRA:M5BQ) (OTCMKTS:NXTTF) announced that its February 2018 total unaudited net revenue (including shipping revenues and after discounts and refunds) was C$1,370,442, representing a 146% revenue increase over February 2017. The company anticipates these year-on-year growth trends to continue as the Canadian market moves towards cannabis legalization and the company executes its strategy to expand sales in emerging markets.

In addition to announcing its February sales, Namaste also provided an update on its progress with its medical cannabis telemedicine application, NamasteMD. The company is now focusing on streamlining the patient acquisition process and further developing the platform. Management anticipates substantial growth in patient acquisition rates for March following a full launch of NamasteMD across the company’s Canadian platform.

Namaste is the world’s largest online retailer for medical cannabis delivery systems through its brands such as Namaste Vapes, everyonedoesit.com, Grizzly Originals and Australian Vaporizers. Through these brands, the company distributes vaporizers and smoking accessories in 20 countries with distribution hubs located around the world. Namaste has majority market share in Europe and Australia, with operations in the UK, Canada and Germany and has opened new supply channels into emerging markets including Brazil, Mexico and Chile. Namaste, through its acquisition of Cannmart Inc., a Canadian based late-stage applicant for medical cannabis sales (under the ACMPR Program), is pursuing a new revenue stream in online retail sales of medical cannabis in the Canadian market.

You may be interested

Thomas Jefferson University to Create Database to Track Medical Cannabis Patients’ Health Outcomes
Tech
8 views
Tech
8 views

Thomas Jefferson University to Create Database to Track Medical Cannabis Patients’ Health Outcomes

Sam Rosenberg - May 25, 2018

Thomas Jefferson University in Philadelphia is in the process of developing a data base to register medical cannabis patients to study the positive or negative health benefits…

CBD Solid Bedrock as US Heads Back to Industrial Hemp Roots
Growers
46 views
Growers
46 views

CBD Solid Bedrock as US Heads Back to Industrial Hemp Roots

Sam Rosenberg - May 24, 2018

With the announcement in April of the Industrial Hemp Farming Act of 2018, the industry could be looking at a federal redefinition of hemp. Industrial hemp is…

Illinois Governor Gets Bill Legalizing Industrial Hemp
Politics
29 views
Politics
29 views

Illinois Governor Gets Bill Legalizing Industrial Hemp

Sam Rosenberg - May 24, 2018

SPRINGFIELD, Ill. (AP) — The Illinois House has sent the governor a measure legalizing industrial hemp. The House voted 106-3 Wednesday to allow hemp cultivation for commercial…

Leave a Comment

Your email address will not be published.

Most from this category

%d bloggers like this: