Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV:N.V) (M5BQ.F) (NXTTF) is pleased to announce record-breaking sales for the Company across its global online platforms, totaling more than $1.24 million(CAD) through the Black Friday and Cyber Monday holiday shopping weekend.
The total reported unaudited sales from Friday, November 22 through Monday, November 26 was approximately $988,361.14. Due to anticipated demand, Namaste’s e-commerce platforms launched their sale on Thursday, bringing the five-day total to approximately $1,248,897.71, the highest-ever sales figures for the Company over the same weekend.
These strong numbers were almost entirely from the sale of vaporizers and smoking accessories and included the first holiday weekend sales of legal medical cannabis sold through Namaste’s wholly-owned subsidiary CannMart Inc. (“CannMart”) online portal, Canada’s first e-commerce platform that can safely and securely deliver legal medical cannabis to patients from a wide variety of licensed producers. CannMart successfully launched same-day and rush order delivery in the Greater Toronto Area via Pineapple Express on November 27.
The Company expects strong revenue growth in 2019 as it continues to grow cannabis sales in Canada, and in anticipation of launching cannabis sales across the UK and in other overseas markets.
Sean Dollinger, President, and CEO of Namaste comments: “With an increasingly-diverse product selection, excellent customer service and a peerless user experience, Namaste is pleased to offer its customers improved value year over year. We’re excited to continue to grow and expand our offerings and services through 2019 and beyond.”
About Namaste Technologies Inc.
Namaste Technologies is Your Everything Cannabis Store™. Namaste operates the largest global cannabis e-commerce platform with over 30 websites in 20+ countries under various brands. Namaste’s product offering through its subsidiaries includes vaporizers, glassware, accessories, CBD products, and the company will soon be selling medical cannabis in the Canadian market.
Namaste has developed and acquired innovative technology platforms including NamasteMD.com, Canada’s first Health Canada compliant telemedicine application, and in May 2018 the Company acquired 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 leveraging its cutting-edge technology to enhance the user experience throughout 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.
On behalf of the Board of Directors
Chief Executive Officer
Direct: +1 604-355-6100
Further information on the Company and its products can be accessed through the links below:
FORWARD-LOOKING INFORMATION This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, Namaste assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. 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 can be found under the Company’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. The TSXV has neither reviewed nor approved the contents of this press release.
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