Namaste Technologies Inc
reported marginally lower revenues of 3.8 million CAD in Q3 2019. The company
helped CannMart to increase end to end customer conversion rate to 6% as of
today from less than 1% in January 2019. It expects to maintain the same growth
rate going forward for CannMart.
is diversifying its revenue streams. It expects to explore business
opportunities: B2C and B2B to boost revenues. The company received an amended
Health Canada license to service its MD patients, who are prescribed oils.
Namaste expects to renew prescriptions of 14,000 patients between November 1
and December 31, 2019.
company would strive to increase conversion rates and boost revenues by
addressing these markets. Namaste also focuses on expanding its other
businesses. Namaste added many new products that include its cannabis oil
concentrates on CannMart. Health Canada has approved to sell cannabis oil
concentrates via CannMart.
to a communiqué from Namaste, CannMart entered marketing and sales accords with
CannTx Life Sciences. As per the terms of the agreement, CannTx would market
BOWER, the flagship product of CannMart. CannMart would use the processing
license obtained from Health Canada to process and package the BOWER products.
The company can now sell medical products directly to consumers online.
includes quality products to improve online market presence and generate
additional value to the Licensed Producers (LPs) through expanding its services
and products. Meni Morim said the company is adding innovative products and
services and sales channels for the LPs, who hold a cultivation license. It is
also addressing the sales of firms that are yet to get distribution and sales
and President of CannTx, Mike Abbott, said the company chose CannMart to
introduce quality products online. CannTx has some good quality products in its
product line, and CannMart would help the company overcome previous
Appoints a New CEO
Namastehas recruited Meni Morim as a board
member and permanent Chief Executive Officer. He held the position of Chief
Product Officer since last year in May and served as interim Chief Executive
Officer since February 2019.
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Published at Wed, 06 Nov 2019 13:12:37 +0000