We noted a few days ago that Namaste Technologies Inc (OTCMKTS:NXTTF) looked like a solid sleeper pick as we cruise toward the highly anticipated manifestation of a fully-legal recreational market in Canada (see “Why Namaste Technologies Inc (OTCMKTS:NXTTF) is a New Darwinian Favorite”). Since then, the stock has blasted off, ripping another 30% higher on a major jump in trading volume as the crowd starts to find it.
To help foment the action, the company just announced that it has signed a veteran patient services agreement and a medical cannabis supply agreement with Breton CannaPharms Ltd. According to the release, “Breton CannaPharms has a very strong presence in veteran communities across Canada and the entire management team has extensive experience in holistically servicing veterans and educating communities on the positive and misunderstood effects of medical cannabis to treat veterans suffering from both chronic pain and post-traumatic stress disorder.”
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 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, subject to approval by Health Canada. 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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As noted above, NXTTF has been on fire in recent days, accelerating on news that it has signed a veteran patient services agreement and a medical cannabis supply agreement with Breton CannaPharms Ltd. In all, we’ve witnessed 79% tacked on to share pricing for the stock in the past month, a rally that has pushed up against longer standing distributive pressure in the stock.
What’s more, the listing has registered increased average transaction volume recently, with the past month seeing topping 250% beyond what we have been seeing over the larger time frame.
Fabian Henry, Founder of Breton CannaPharms comments: “After half a decade assisting and educating Licensed Producers in the cannabis industry, it’s a true pleasure to finally partner with a professional group like Namaste Technologies. Namaste’s leadership with its craft approach, patient acquisition strategy and their NamasteMD platform made easy, are extremely welcomed to the veteran community. This strategic partnership will allow veterans nationally to access a wide variety of medical craft cannabis and vaporizers on one platform, while adding more options on how veterans can manage their own healthcare. Their success in e-commerce both in Canada and internationally have shown what Namaste Technologie is exceptionally capable of world-wide. On behalf of the Breton CannaPharms team, we are very pleased to join the Namaste family and look forward to a long-lasting working relationship with veterans for healing as our end state.”
Currently trading at a market capitalization of $539.8M, NXTTF has a reserve ($471K) of cash on the books, which is balanced by 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 is an exciting story, and we look forward to a follow-up chapter as events transpire. 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.