Namaste Announces February 2018 Sales of C$1.37M Representing a 146% Year-Over-Year Increase | CashCropToday
0 Shares 181 Views

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

March 7, 2018
181 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

VividGro, a Pegasus Capital Advisors Portfolio Company,  Announces Partnership with Merida Capital Partners
Market Watch
136 views
Market Watch
136 views

VividGro, a Pegasus Capital Advisors Portfolio Company, Announces Partnership with Merida Capital Partners

Editor - August 17, 2018

Partnership to Focus on Growth in Horticultural and Cannabis Industries VividGro, LLC, a portfolio company of private equity firm Pegasus Capital Advisors (Pegasus), today announced it has…

Harborside to Go Public Via Canadian Reverse Takeover in Deal Valued at C$200 Million
Market Watch
243 views
Market Watch
243 views

Harborside to Go Public Via Canadian Reverse Takeover in Deal Valued at C$200 Million

Editor - August 15, 2018

Harborside, a California based cannabis dispensary brand with multiple locations, is planning the reverse takeover of Canadian public company Lineage Grow Company Ltd. (CSE: BUDD). Lineage is…

The City of Los Angeles Has Begun Accepting Applications for Cannabis Licenses
Politics
325 views
Politics
325 views

The City of Los Angeles Has Begun Accepting Applications for Cannabis Licenses

Editor - August 15, 2018

At the beginning of this month, the city of Los Angeles finally decided to start accepting license applications from cannabis growers, manufacturers, and testing labs. Although marijuana was…

Leave a Comment

Your email address will not be published.

Most from this category

%d bloggers like this: