VANCOUVER, Nov. 30, 2018 /CNW/ – Namaste Technologies Inc. (TSXV: N) is pleased to announce record-breaking sales 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.
Namaste Management Commentary
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.
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