VANCOUVER, British Columbia, Oct. 10, 2017 (GLOBE NEWSWIRE) — Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N) (FRANKFURT:M5BQ) (OTCMKTS:NXTTF) is pleased to announce September 2017 unaudited sales as reported by the Company (including shipping revenues and after discounts and refunds) were C$1,198,765, representing a 132% year-on-year growth in sales.
The table below displays a breakdown of Namaste’s revenue by sales channel.
|Revenues – September 2017 (C$)|
The table below outlines gross sales of Namaste’s major sites and includes site traffic, conversion rates, total number of orders per site and average online basket price.
|Selected operating data e-Commerce September 2017 in C$
Namaste continues to produce strong revenue during a typically slow period for e-commerce sales. Through implementation of new site platforms and machine learning algorithms, Namaste is focused on increasing organically driven revenue across its platform and expects to see significant growth in monthly revenues while entering into the busiest season of the year for e-commerce.
Sean Dollinger, President and CEO of Namaste comments: “We’re quite pleased to see such strong revenue numbers for September this year and incredible year-on-year growth. As we enter into busy season, we expect to see a dramatic increase in sales leading up to the holidays. We are also very pleased to be making progress with our Cannmart facility and are focused on working with Mr. David Hyde and Eurofins Experchem Laboratories Inc. as well as Health Canada to continue with our plan to launch our medical cannabis sales platform early in the new year.”
About Namaste Technologies Inc.
Namaste Technologies Inc. (“Namaste”) is the largest online retailer for medical cannabis delivery systems globally. Namaste distributes vaporizers and smoking accessories through e-commerce sites in 26 countries and with 5 distribution hubs located around the world. Namaste has majority market share in Europe and Australia, with operations in the UK, US, 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 a medical cannabis distribution license (under the ACMPR Program) is pursuing a new revenue vertical in online retail of medical cannabis in the Canadian market. Namaste intends to leverage its existing database of Canadian medical cannabis consumers, along with its expertise in e-commerce to create an online marketplace for medical cannabis patients, offering a larger variety of product and a better user experience.
On behalf of the Board of Directors
Chief Executive Officer
Email: [email protected]
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 CSE has neither reviewed nor approved the contents of this press release.