Cannabis News

Namaste Technologies shared an update to investors on the progress of sales for the company.

Namaste Technologies (CSE:N; OTCMKTS:NXTTF) shared an update to investors on the progress of sales for the company.

As quoted in the press release:

Namaste Technologies Inc. (“Namaste” or the “Company”) is pleased to announce February 2018 total unaudited net revenue as reported by the Company (including shipping revenues and after discounts and refunds) were C$1,370,442, representing a 146% revenue increase in February 2018 compared with February 2017. February is a historically low month for sales and as such, the Company is pleased with these results. Management 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.

Management Commentary

Sean Dollinger, President and CEO of Namaste comments; “We are very pleased to be seeing the positive trend of monthly sales increases year-over-year. With the Cannmart license pending approval, we are very encouraged to see our hardware business growing, which should have a direct impact on our ability to expand our e-commerce platform to include the sale of cannabis products and shift our focus on aggressive acquisition of patients via NamasteMD. While the soft-launch of NamasteMD has been a success, we feel that obtaining our sales license should substantially increase our ability to convert downloaded users into patients. Our ability to provide patients with an all-inclusive e-commerce marketplace of cannabis products and services in the near term should serve to significantly increase our market share moving forward.”

Click here to read the full press release.

Source: globenewswire.com

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