Namaste Technologies Archives - Page 2 of 2

StaffAugust 22, 2018

Namaste Technologies Inc. (NXTTF) signed a wholesale supply agreement with Manitoba-based licensed producer, Bonify Inc. Namaste will buy bulk cannabis products through the wholly-owned subsidiary, Cannmart Inc.

Bonify is a leading provider of medical marijuana and it operates a large-scale cultivation facility. The company said it will expand capacity to over 350,000 square-foot to accommodate Namaste’s growth trajectory. The site in Winnipeg, Manitoba has over one million square feet of potential production capacity and could be capable of growing over 100,000kg. Namaste said it will work with Bonify to develop private-label strains of cannabis for the medical and recreational markets as well as in offering the full selection of Bonify products.

Namaste also noted that Cannmart completed its Health Canada Pre-Sales inspection on July 31^st, 2018 and the receipt of its “sales-only” license. With Cannmart’s “sales-only” license imminent the company will have the ability to integrate cannabis sales within its platform.

More Patients

The company has also registered over 14,000 users in its online patient portal and mobile app, NamasteMD representing a 130% increase in registered users in approximately 2 months. The company statement said that with the latest launch of the NamasetMD app, it has streamlined the on-boarding process, improved conversion rates and has opened the app’s scheduling to accommodate appointments within 15 minutes from sign-up.

Revenue Sharing With Cannvas MedTech

Namaste also signed a revenue sharing agreement with cannabis business tech company Cannvas MedTech Inc. with the two companies sharing revenue generated through co-branding and marketing efforts between NamasteMD and the Cannvas.me cannabis education platform. The Cannvas.me educational platform will offer users convenient access to book medical cannabis consultations through NamasteMD, providing added value for and a new revenue stream for Cannvas.me. Namaste hopes to give its patients more information through Cannvas.

“As we close in on the launch of Cannvas.me, we are very excited to team up with Namaste Technologies,” said Steve Loutskou, COO of Cannvas MedTech. “They have done an incredible job creating the world’s largest and most comprehensive cannabis-focused e-commerce platform and make an ideal partner for Cannvas MedTech. We share a similar outlook of aspiring to partner with leading companies making a difference educating consumers about the benefits of medical cannabis.”

Kory Zelickson, Co-Founder and VP of Business Development for Namaste said, “I am very impressed with the vision of Cannvas to become the unbiased source of education for medicinal and recreational cannabis users worldwide. With the legalization of cannabis in Canada only a few short months away, forming a long-term partnership with an educational platform furthers Namaste’s commitment to its patients around the safe and responsible use of cannabis.”

William SumnerJuly 23, 2018

It’s time for your Daily Hit of cannabis financial news for July 23, 2018.

On the Site

Acreage Holdings

Acreage Holdings continues to quickly take charge in dominating the U.S. cannabis scene. Today’s news of raising $119 million will comfortably position the company to go public on the Canadian Securities Exchange this year. In addition to raising what could be the largest private round in the U.S. cannabis industry, Acreage completed the roll-up of control positions in several U.S. states.

PotNetwork

Penny stock cannabis company PotNetwork Holdings Inc. (POTN) reversed its recent decision to become a fully reporting SEC company on Sunday. Just a days ago on July 16, PotNetwork said it had filed a Form 10 with the Securities and Exchange Commission (SEC) to become a fully reporting company.

The Ultimate Meet-Cute: Hollywood & Weed

Although it’s no secret that many Hollywood stars have been known to indulge in cannabis use from time to time, most have been reluctant to publicly open up about their affinity for cannabis. But now that recreational cannabis is legal in California, it seems like every celebrity with even a modicum of fame is rushing to cash in on the legal cannabis industry.

In Other News

CV Sciences

Hemp oil supplier and manufacturer, CV Sciences (CVSI), announced that it has applied to list on the NASDAQ Capital Market. Until approved, the company will continue trading on the OTC Markets under its current symbol, CVSI. “We believe up-listing from the OTC Market to the Nasdaq Capital Market will increase corporate visibility, improve liquidity, and broaden awareness in the financial markets,” said CV Sciences CEO Joseph Dowling. Additionally, the company’s Board of Directors has approved a reverse stock split of all outstanding shares of common stock. If approved by stockholders, the company will have a ration sufficient to meet NASDAQ’s minimum bid price requirement.

Namaste Technologies

Namaste Technologies (NXTTF) announced today the filing of its unaudited third quarter financial statements. Revenue for the quarter rose by 32% from $3.1 million to $4.1 million, compared to the same period in the previous year. The increase in revenue was attributed to organic growth in the company’s vaporizer business and was generated in several key markets. The gross profit margin declined from 22% to 21%, but overall, gross profits rose from approximately $700,000 to $900,000. “We are pleased to see a 32% increase in quarterly revenue compared to the same period last year, due to organic growth in the Company’s vaporizer business,” stated Namaste CFO, Kenneth Ngo. “The Q3 results are very encouraging especially considering that Namaste divested its U.S assets and revenue which accounted for 14.4% of the total revenue during Q3 of 2017.”

Organigram Holdings Inc.

Organigram Holdings Inc. (OGRMF) today gave shareholders an update on the progress of the expansion of its cannabis production facility, located in Moncton, New Brunswick. The company is in the final stages planting the remaining three of the sixteen three-tier Phase 3 cultivation rooms. Staggered harvests from the company’s Phase 3 cultivation rooms are expected to begin in August. Construction on the facility’s Phase 4 expansion has already started and will be completed over three stages in 2018 and 2019 and should cost the company approximately $110 million. Once completed, Organigram’s cultivation capacity will increase to 113,000 kilograms per year. “We are pleased to successfully complete our latest expansion project on time and on budget to meet the needs of the existing domestic and international medical market as well as the launch of the recreational adult-use market in Canada on October 17, 2018,” said Greg Engel, CEO of Organigram.

Debra BorchardtJune 6, 2018

The California cannabis company known for its marijuana flower crowns and special holiday products, Lowell Herb Co., is teaming up with Namaste Technologies (NXTTF) to launch its products in Canada. Namaste signed a supply and distribution agreement with Lowell Herb to launch ultra premium Lowell Smokes products for the Canadian recreational and medical cannabis markets.

In anticipation of Canada’s roll-out of legal recreational cannabis, the deal represents a strategic partnership between Namaste and Lowell Smokes to leverage Namaste’s resources and Lowell’s international brand appeal. According to the company statement, Namaste will work with Lowell Smoke’s procurement team to source the highest quality cannabis grown with organic methods and facilitate packaging and distribution through the Company’s wholly-owned subsidiary, Cannmart Inc. Namaste anticipates a strong demand for organic cannabis products as the general consumer market becomes more conscious of the products they consume.

“We are thrilled to announce our partnership with Namaste. Lowell Herb co is the fastest growing cannabis brand in California, and we believe that there is a massive opportunity for our brand internationally,” said David Elias, President and CEO of Lowell Herb Co. “Working with Namaste, we are confident that they are the perfect partner to help us enter the Canadian market. They have a unique offering, and they are solid operators with deep domain expertise in eCommerce.”

Lowell Smokes has established itself as one of the strongest brands in the quickly growing and highly competitive market of California. Its products are in over 250 dispensaries in the state. In a recent BDS Analytics report, Lowell Smokes ranked as the #1 pre-roll brand in California amongst over 50 other brands listed, with an impressive 12% market share. The company has also managed to amp up its star power with celebrities like N.O.R.E, Snoop Dogg, Jimmy Kimmel, Sarah Silverman, Bella Thorne, Bria Vinaite and Sasha Lane talking about the brand and posting content on social media.

“We have seen the sales data in California, the largest and most competitive market in the US, and it’s clear that customers love and adore the Lowell brand,” said Sean Dollinger, President, and CEO of Namaste Technologies. “We feel confident that the market for organic cannabis products will play an important role for Canadian consumers and that the timing is perfect for Namaste to not only help the team at Lowell take advantage of the opportunity in Canada but also to help them explore the international marketplace.”

Terms Of The Deal

The company stated that the terms of the agreement are as follows:

· Namaste will secure supply of high-quality cannabis and produce Lowell Smoke’s branded products on-site at Cannmart.

· Lowell Smokes will provide packaging and branding guidelines, in compliance with Health Canada regulations.

· Lowell Smokes will pay a monthly rental fee that will include storage and overhead costs to Cannmart.

· Lowell Smokes will pay Namaste a 5% royalty fee for all products sold through Cannmart.

· Lowell Smokes will provide Namaste with wholesale prices for non-cannabis products that will be sold through Namaste’s e-commerce platform.

Stock Performance

Namaste stock was lately trading at $1.24 on the OTC Markets, down from its 52-week high of $3.47, but above its year low of 13 cents. On the Toronto Venture Exchange, the stock was trading at C$1.61, not far from its year high of C$1.75. Namaste said it will continue to pursue strategic partnerships where it can leverage their e-commerce and technology platform to provide value to brands like Lowell Smokes.

William SumnerMay 3, 2018

After posting an impressive second quarter financial earnings, the cannabis-tech company Namaste Technologies (NXTTF) has started makings moves in the world of artificial intelligence.

Today the company announced that they have executed a definitive agreement to acquire Findify AB, a Swedish corporation on the forefront of A.I. powered e-commerce personalization, delivering solutions such as personalized search, recommendations, and advanced data analytics.

Findify’s platform uses real-time machine learning algorithms to create profiles for a more personalized user experience. Constantly learning, the platform analyzes users behavior and uses that information to rank search results, product recommendations, and relevant pages in such as way to optimize conversion rates and revenue.

“I am super excited for the talented team of Findify to join Namaste,” commented Namste Director, Lauren Feenstra. “Their leading machine learning models have already made Namaste much better at recommending the right products to our customers. And, even more importantly, we are thrilled to apply their deep A.I. expertise to cannabis. There are approximately 800 identified strains of cannabis each with hundreds of active ingredients, meaning each plant works differently for each person. Understanding which plant works for whom will be key in helping cannabis benefit everyone.”

Under the agreement, Namaste will purchases all issued and outstanding shares of Findify for $2 million USD in cash upfront and $10 million USD to be paid in common shares of Namaste at a price of $1.80 CAD per common share. Key employees from Findify will remain with the company once the acquisition is complete.

The company will allocate resources to expand on Findify’s existing platform, which they believe will drive revenue growth and increase EBITDA by the end of 2019. Additionally, the company will implement the Findify’s technology to help increase the number of medical cannabis patients through its wholly owned subsidiary, NamasteMD Inc.

Namaste Technologies’ stock is currently holding at $1.25 USD per share, down from its 52-week high of $3.47, but above the year’s low of 13 cents.

StaffApril 30, 2018

Namaste Technologies Inc. (NXTTF) announced its unaudited quarterly financial statements for the second quarter of fiscal 2018. Sales for the quarter were $5.6M, a 195% increase quarter-over-quarter. Gross profits were $1.9M, a 150% increase over the same time period for last year. Namaste said that the gross profit increase related primarily to the growth in revenue outside the United States.

“We are very pleased with the Q2 financials. The Company continues to see quarter-on-quarter growth at a rapidly accelerating rate, even after having divested our US assets,” said Sean Dollinger, President, and CEO of Namaste. “Our management team remains focused on ramping up patient acquisition through NamasteMD, and we anticipate launching medical cannabis sales through Cannmart in the near future. We feel that the Company is now positioned for significant growth going forward which will be achieved by accelerating patient acquisition, adding medical cannabis sales to our platform and by implementing new technologies to an already impressive platform.”

Namaste’s management team said it anticipates seeing accelerated growth in Q3 and Q4 of 2018. The Company has been focused on launching many new initiatives, the most significant of which is the addition of medical cannabis sales through the Company’s wholly-owned subsidiary, Cannmart Inc. Namaste will focus on expanding its international platform and in developing new opportunities domestically and abroad. The companies top five markets were the United Kingdom, Australia, United States, Brazil and finally Canada.

Operating costs for the second quarter grew to $5.5M versus $2.4M for the second quarter of 2017. According to the company statement, the quarter-over-quarter increase in operating costs was due to non-cash charges of $1.5M, which included share-based compensation, amortization of intangible assets, and depreciation.

Selling expenses also jumped in the second quarter, coming in at $1.7M compared to $0.6M for the previous year. The company said that the increase was due in part to an increase in advertising expenses of $0.6M and consulting expenses of $0.5M. “Advertising expenses related to online search services as well as other online promotional and social media tools utilized by the company to generate sales. These costs further represent the Company’s significant investment into search engine optimization and its ongoing customer acquisition strategy.”

Stock Performance

Namaste stock jumped over 4% on the earnings news to lately trade at $1.25, down from its 52-week high of $3.47, but above the year’s low of 13 cents.

Debra BorchardtOctober 20, 2017

MJIC Inc. added four new companies to the Marijuana Index following the quarterly rebalancing with two new names being added to the U.S. Marijuana Index and Canadian Marijuana Index respectively. There are now 35 names in the North American Index with 17 in the U.S. Index and 18 in the Canadian.

The U.S. Index has added MariMed (MRMD) and Canadian Bioceutical Corporation (CBICF) and the Canadian Index added Namaste Technologies (NXTTF) and CannTrust (CNTTF).

MariMed provides advisory services to cannabis cultivators, producers and dispensaries. The company has also developed cannabis facilities in multiple states. The company has licensed partners in and distributors in RI, DE, NV, MA, and MD and they are working with manufacturers in CA, CO, AZ, OR, WA and ME. MariMed has helped numerous clients design and deploy state-of-the-art laboratories and dispensaries. The company has also licensed Tikun Olam’s cannabis genetics with five years of clinical data for its Delaware facility. The stock’s 52-week low was five cents and its high was 83 cents. It was lately trading at 37 cents.

The Canadian Bioceutical Corporation provides advisory services to two licensed medical cannabis dispensaries in Arizona. While the Company does not directly own, possess or sell cannabis or cannabis-infused products, it does provide substantial support and exerts considerable influence over these two businesses , which are legally authorized to sell medical cannabis and derivative products. Under the Health for Life (‘H4L’) brand, the two licensed dispensaries operate in the Mesa area, which is part of the rapidly growing Phoenix Metropolitan Statistical Area (MSA) with a population of 4.6 million people. Additionally, the Company supports the Melting Point Extracts (‘MPX’) brand. At 30 cents, the stock is trading at the low end of its 52-week range, which is 22 cents to $1.51.

Namaste Technologies Inc. distributes vaporizers and smoking accessories through e-commerce websites in 26 countries. The company has 30 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. Namaste is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally. This stock is also trading at the low end of its 52-week range at 16 cents, with the range between 12 and 42 cents.

CannTrust Holdings Inc. is a cannabis Licensed Producer in Canada headquartered in Vaughan, Ontario and trades in the grey sheets on the OTC Market. CannTrust currently operates a 50,000 square foot state-of-the-art hydroponic facility in Vaughan, Ontario and is upgrading a 430,000 square foot cultivation facility in the Niagara region.

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Namaste Technologies Archives - Page 2 of 2 - Green Market Report

Namaste Technologies Signs Deals With Bonify, Cannvas MedTech