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Monday, November 30, 2020

Here’s How Namaste Technologies Inc (OTCMKTS:NXTTF) Plans to Establish a Dominant Seat at the Table

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One of the most interesting companies in the cannabis patch right now is Namaste Technologies Inc (OTCMKTS:NXTTF). The company has a lot of branding clout but doesn’t produce cannabis. So, the challenge here for the company is to find a way to monetize its brand and retail infrastructure (including technology) by sourcing effectively ‘white label’ weed and marking it up for the value-add of that brand and infrastructure.

To that end, the company just announced that it has signed a wholesale supply agreement with Manitoba-based, late-stage ACMPR applicant, Kief Cannabis Company Ltd. According to the release, “Under the terms of the Supply Agreement, Namaste will purchase bulk cannabis products under the Company’s wholly-owned subsidiary, Cannmart Inc. to offer in its online platform.” The plan appears to be working, with the stock on fire in recent days.

Namaste Technologies Inc (OTCMKTS:NXTTF) promulgates itself an emerging leader in vaporizer and accessories space. Namaste 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.

NXTTF is currently focused on expanding its product offering, acquisitions, and strategic partnerships, and entering new markets globally.

According to company materials, “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.”

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As noted above, shares of NXTTF have been powering higher, breaking above the 200-day simple moving average as the company works to align a market positioning strategy that works as a retailer with upstream supplier inputs in transition from MMJ to all MJ in front of the big Canadian legalization in October.

Sean Dollinger, President and CEO of Namaste comments: “Ultimately, everything we’re doing is focused on creating a personalized and amazing user experience. All of the technology we’ve developed has been centered around this concept. The more value we can bring to our customers, whether through NamasteMD, AI integrations or the best possible customer service, Namaste has years of experience operating in the online market and that is what I believe sets us apart from our competitors. We’re also very proud that our cultivator partners across the country see value in Namaste’s platform and marketplace. We believe that the online market for medical and recreational cannabis will evolve rapidly in Canada and that Namaste is well-positioned with extensive expertise to be the number one online platform for everything cannabis not only in Canada but globally.”

At this time, carrying a capital value in the market of $415.6M, NXTTF has a bankroll ($471K) of cash on the books, which must be weighed relative to about $1.1M in total current liabilities. One should also note that debt has been growing over recent quarters. NXTTF is pulling in trailing 12-month revenues of $5.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 173.1%. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $NXTTF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $NXTTF, either long or short, and we have not been compensated for this article.

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