Cannabis and Hemp Industry Investment News

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Namaste Technologies enters recreational cannabis market through new partnership with High Tide

Around 40 products earmarked for the recreational market will be made available to consumers in Saskatchewan via CannMart.com

() () is entering the direct-to-consumer recreational cannabis market to sell products by licensed retailers via its online platform CannMart.com and its recently launched program VendorLink.

The Toronto-based company announced Tuesday it is collaborating with cannabis firm High Tide Inc () () that will see subsidiaries of both companies make recreational products available exclusively on CannMart.com for a one-year term, subject to renewals.

Around 40 products earmarked for the recreational market will be made available to consumers in Saskatchewan, with weekly inventory changes and additional products to be made available, according to the firm.

READ: Namaste Technologies debuts new marketplace platform VendorLink for cannabis accessories

Launched as an online platform for the medical cannabis market, CannMart.com provides customers with a diverse selection of hand-selected products from a multitude of federally-licensed cultivators. VendorLink allows brands and vendors to upload and sell cannabis accessory products directly to CannMart customers.

Namaste CEO Meni Morim called the news a “landmark moment” for the company.

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Namaste Technologies debuts new marketplace platform VendorLink for cannabis accessories

Cannabis hardware company Canada Puffin will be the first brand uploaded to VendorLink

CannMart is Toronto-based Namaste’s online cannabis store

() () is launching VendorLink, a new marketplace platform for cannabis accessory products, it announced Friday.

The proprietary platform allows brands and vendors to upload and sell cannabis accessory products directly to CannMart customers, according to the firm. CannMart is Toronto-based Namaste’s online cannabis store.

Cannabis hardware company Canada Puffin, which specializes in hand-blown glass and natural pipes and accessories, will be the first brand uploaded to VendorLink.

READ: Namaste Technologies inks agreement with e-commerce company Lifted Innovations

In a statement, Namaste told shareholders that CannMart is in a “unique position” to leverage its online presence with companies looking to expand their reach.

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Namaste Technologies inks agreement with e-commerce company Lifted Innovations

As part of the deal, the two companies will collaborate wherever practical for 24 months, with an eye on US business development

In keeping with Namaste's strategic partner status, Lifted has issued the Toronto-headquartered cannabis e-commerce giant 3,065,000 shares or roughly 5% undiluted shareholding

() (OTCMKTS:NXTFF) (FRA:M5BQ), which operates the largest global cannabis e-commerce platform, said on Thursday that it had struck an agreement with Lifted Innovations Inc, a private e-commerce company selling cannabis-related accessories in the US and Canada.

As part of the deal, the two companies will collaborate wherever practical for 24 months, with an eye on US business development. The partnership will also look at creating “efficiencies” relating to common ancillary businesses and potential opportunities relating to the licensing of technology.

In keeping with Namaste's strategic partner status, Lifted has issued the Toronto-headquartered cannabis e-commerce giant 3,065,000 shares, which amounts to a roughly 5% undiluted shareholding.

READ: Namaste Technologies adds leading Canadian brand Indiva to its product offering on CannMart.com

Separately, in July, Lifted said that Kootenay Zinc Corp (CSE:ZNK) had initiated an offer to acquire all of the issued and outstanding shares of Lifted, thereby entitling Lifted shareholders to receive one share of the issuer PeakBirch Logic Inc, for each Lifted share tendered. The offer was part of a larger reverse takeover and change of business transaction for Kootenay.

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Helix Technologies launches online medical marijuana reciprocity portal in New Mexico

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Inc () COO Moe Afaneh tells Proactive that New Mexico's online medical marijuana reciprocity portal, which Helix worked with the state government to set up, is live and has been serving out of state patients living or vacationing in New Mexico.

Afaneh says the system, which is the first of its kind for US Medical Cannabis programs, allows state regulators to electronically register and track out of state patients into the patient registry.

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Helix Technologies says it has launched nation’s first online medical marijuana reciprocity portal in New Mexico

The system allows state regulators to electronically register and track out of state patients into the patient registry 

Since going live with the reciprocity module on July 1, more than 1,700 out of state patients have been registered for the program

Inc () announced Tuesday that New Mexico's online medical marijuana reciprocity portal is live and has been serving out of state patients living or vacationing in New Mexico.

The system, which is the first of its kind for US Medical Cannabis programs, allows state regulators to electronically register and track out of state patients into the patient registry. 

The system decreases time and costs associated with paper only patient registries and allows the state to track and enforce dispensing limits in real time to prevent potential diversion to the black market.

READ: Helix Technologies says it has already achieved all of its financial goals for 2020, as revenues surge in first half

Helix noted that the new platform, which the company worked with the state government to set up, benefits all stakeholders in the New Mexico industry as it allows out of state patients a convenient way to access medical cannabis.

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Namaste Technologies adds leading Canadian brand Indiva to its product offering on CannMart.com

CannMart will sell Indiva’s CBD soft gels and capsules as well as its Bhang chocolates and Wana sour gummies through its online distribution channels

The addition of Indiva comes as Toronto-based Namaste expands its Cannabis 2.0 product offering (photo courtesy of Indiva)

() (OTCMKTS:NXTFF) has added Indiva Inc products to its online distribution channel CannMart.com.

Indiva is a wholly-owned subsidiary of Indiva Limited () (OTCQX:NDVAF), a Canadian producer of cannabis edibles and related products.

CannMart will sell Indiva’s CBD softgels and capsules as well as its Bhang chocolates and Wana sour gummies through its B2C distribution channels for medical customers, Namaste said.

READ: Namaste Technologies reports record 2Q revenue as CannMart flexes sales strength

"We have made tremendous inroads in both the medical and recreational sales channels and the investment we made in our processing and distribution facilities has allowed us to expand our presence within the legal Canadian cannabis market,” Namaste CEO Meni Morim said in a statement Thursday.

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Helix Technologies reveals revenue surge and doubling of Cannalytics platform use in its 2Q

Inc's () Garvis Toler tells Proactive the firm reported a revenue surge in its first half of US$9.3 million, an increase of 28% over the same period last year, while its adjusted earnings (EBITDA) expanded to US$2 million from US$259,000.

For its second quarter, Toler says cash flows from operations rose 162% year-on-year to US$446,000, adding that the number of clients using its Cannalytics platform more than doubled in the quarter to over 200.

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Helix Technologies says it has already achieved all of its financial goals for 2020, as revenues surge in first half

For the first six months of its current year, Helix reported revenues of US$9,3 million, an increase of 28% over the same period last year, while its adjusted earnings (EBITDA) expanded to US$2 million from US$259,000

Helix said the second quarter was a “landmark” for the firm as it reached the “critically important milestone” of positive cash flow

Inc () said it has achieved all of its financial goals for 2020 already, “setting the stage for an outstanding and exciting rest of the year” as the group reported a revenue surge in its first half.

For the first six months of its current year, Helix reported revenues of US$9,3 million, an increase of 28% over the same period last year, while its adjusted earnings (EBITDA) expanded to US$2 million from US$259,000.

WATCH: Helix Technologies sells security guarding business in a cash deal

For its second quarter, the company said its cash flows from operations rose 162% year-on-year to US$446,000, adding that the number of clients using its Cannalytics platform more than doubled in the quarter to over 200.

Helix said the second quarter was a “landmark” for the firm as it reached the “critically important milestone” of positive cash flow.

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Helix Technologies sells security guarding business in a cash deal

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(OTCQB: HLIX) President of Data Services Garvis Toler joined Steve Darling from Proactive Vancouver with news the company has sold off their security guarding business.

Toler explains the rationale behind that decision. Toler also told Proactive what they plan on doing with the money received in the cash deal.

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Helix Technologies sells security guarding business as it transitions to pure-play tech company focused on cannabis

The disposal is expected to increase the group's gross margins and allow management to focus on growing its scalable, high margin suite of critical technology infrastructure services

Helix will use the net proceeds to pay off existing liabilities and strengthen its working capital position

Inc () announced Tuesday it has sold its security guarding business as part of a strategic move to transition itself into a pure-play technology company focused on the cannabis industry.

The company said the divestiture of the guarding business is expected to increase gross margins and allow management to focus on growing its scalable, high margin suite of critical technology infrastructure services. 

Denver-based Invicta Group purchased the business and Security ProAdvisors LLC represented Helix Technologies in the sale. Helix Technologies said it will use the net proceeds to pay off existing liabilities and strengthen its working capital position.

READ: Helix's BioTrack cannabis point-of-sale system to integrate with springbig loyalty platform

"We are incredibly proud of what we have accomplished with Helix Security,” Helix Techniologies CEO Zachary Venegas said in a statement. “In a short time, we went from start-up - without a single client - to the undisputed leader in the Colorado security market, clearing the field of well-established, larger competitors, and leveraged that dominant position to expand into higher-margin critical technology infrastructure, and data.” 

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SPONSORED CONTENT: Namaste Technologies Inc CEO Meni Morim fields questions from shareholders

Morim said the company has diversified its revenue streams, adding wholesale and services to the mix, which compliment its B2C sales on CannMart

() () CEO Meni Morim answers a range of questions the company has received from shareholders in an interview which originally appeared as a blog post on Medium.

When and how will CannMart move closer to profitability?

The cannabis industry is in its infancy. All companies in this domain should have adopted the build-measure-learn loop to validate certain growth hypotheses, which is exactly what CannMart has done. Implementing this loop requires an initial investment and we anticipate seeing the return on it in the medium and long term timeframes.

As an example, we can look at the establishment of our B2B channel. This channel did not exist ten months ago. We needed to hire people, build the infrastructure on-site, invest in building relationships with provincial bodies, etc. This requires an upfront investment, which we are now starting to see the results of (referring to Q1 2020).

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Helix's BioTrack cannabis point-of-sale system to integrate with springbig loyalty platform

The integration will allow clients on BioTrack to seamlessly consolidate sales data and target certain segments of its customer base with customizable discounts and rewards

Helix Technologies provides of critical infrastructure services, helping owners and operators of licensed cannabis businesses stay competitive and compliant

Inc’s () BioTrack division, a cannabis seed-to-sale software operation, will integrate its point-of-sale system into the loyalty platform of springbig, a provider of customer-loyalty and communications solutions for dispensaries and cannabis retailers.

In a statement from springbig released Wednesday, the Boca Raton, Florida-based company said that the integration will allow clients on BioTrack’s point-of-sale system to seamlessly consolidate sales data and target certain segments of its customer base with customizable discounts and rewards that are tracked directly in the point-of-sale (POS) system.

"The most powerful way to grow revenue is for retailers to build and retain a loyal customer base,” springbig CEO Jeffrey Harris said in a statement. “We’re excited to partner with BioTrack to offer their clients the ability to leverage their POS data to seamlessly create the highly-personalized experiences that customers crave.”

READ: Helix Technologies releases Cannalytics Business Intelligence data platform for cannabis cultivators

springbig has powered more than 230,000 loyalty campaigns through 340 million text messages, the company said. Now, BioTrack clients will be able to target specific consumer segments with custom SMS text messages, which can be tailored using purchase history, gender, zip code and more.

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Namaste CEO happy with financial numbers but wants to see gross margin improvement.

Namaste (CVE: N-OTC: NXTTF) CEO Meni Morim joined Steve Darling from Proactive Vancouver with details about their recent financial numbers. Morim saying they had some positives, but he also saw some things the company really has to work on.

Morim also told Proactive about the company’s focus for the second half of 2020 including getting more products available on CannMart.

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Namaste Technologies reports record 2Q revenue as CannMart flexes sales strength

The cannabis technology company saw its revenue increase by 73% over the same quarter a year ago, largely thanks to its online cannabis store CannMart.com

CannMart introduced B2B distribution channels in addition to its B2C sales

() () reported record revenue of C$6.9 million in its second quarter, according to financial results released Friday.

During the period ended May 31, 2020, the cannabis technology company saw its revenue increase by 73% over the same quarter a year ago, a 31% sequential increase, largely thanks to its online cannabis store CannMart.com, which generated net revenue of $2.4 million.

Toronto-based Namaste also narrowed its net loss significantly to $4.8 million compared to $8.6 million in the year-ago quarter, which was attributed to CannMart's introduction of new distribution channels, restructuring efforts in 2019, and resulting business improvements in 2020.

READ: Namaste says subsidiary CannMart granted exclusive license by IGNITE to utilize certain brand trademarks on cannabis products

"The introduction of B2B distribution channels by CannMart has made a significant contribution to Namaste's revenue stream and bottom line," Meni Morim, CEO of Namaste said in the results statement.

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Namaste says subsidiary CannMart granted exclusive license by IGNITE to utilize certain brand trademarks on cannabis products

CannMart also has received regulatory approval to begin offering Cannabis 2.0 products in Alberta and Ontario

CannMart's first offering in the provinces will be a variety of vape cartridges

() () announced Monday its subsidiary CannMart Inc has been granted an exclusive license by IGNITE International Brands Ltd (CSE:BILZ) (OTCQX: BILZF) to utilize certain brand trademarks on cannabis-based products for sale in Canada. 

In addition, CannMart has received approval from Alberta Gaming, Liquor & Cannabis (AGLC) and the Ontario Cannabis Retail Corporation operating as the Ontario Cannabis Store (OCS) to begin offering Cannabis 2.0 products.

Namaste said CannMart's first offering will be a variety of vape cartridges.

READ: Namaste evaluating its 49% stake in Choklat after its nominated director resigns

"Our agreement to become the exclusive distributor of IGNITE products in Canada is an important milestone for the company and positively reflects on our value proposition," said Namaste CEO Meni Morim in a statement.

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Namaste evaluating its 49% stake in Choklat after its nominated director resigns and CannMart cancels purchase order

Meni Morim has resigned as a director due to disagreements between him and the management of Choklat

The cannabis company said it will not exercise its right to name another director to the Choklat board at this time

Namaste Technologies Inc (CVE:N) (OTCMKTS:NXTTF) announced Wednesday that Meni Morim has resigned as a director of Choklat Inc, a private company in which Namaste holds a 49% equity interest.

As part of its initial investment in Choklat in March 2019, Namaste was granted the right to appoint a director to the Choklat board. The group said Morim had resigned due to disagreements between him and the management of Choklat.

The cannabis company said it will not exercise its right to name another director to the Choklat board at this time as it evaluates its investment in Choklat, a craft chocolate manufacturer that has a processing license from Health Canada to produce a line of cannabis-infused chocolate bars, drink mixes and sugar. 

READ: Namaste Technologies sees highest quarterly revenue in two years as strategy shift starts to bear fruit

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Namaste's hard work in 2019 paying off with higher revenue numbers in 2020

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Namaste (CVE: N- OTCMKTS: NXTTF) CEO Meni Morim joined Steve Darling from Proactive Vancouver to discuss their recent financial numbers that saw the company post their highest quarterly revenue figure for two years.

Morim discusses what moves the company has made to facilitate this and also gives an update on its online platform CannMart.

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Namaste Technologies sees highest quarterly revenue in two years as strategy shift starts to bear fruit

The group's net revenue for the three months to February 29, 2020, came in at C$5.3 million, which was 16% up on the same period in 2019

() () has said the strategy shift it made in 2019 is starting to pay off as the cannabis-focused online platform posted its highest quarterly revenue figure for two years.

Net revenue for the three months to February 29, 2020, came in at C$5.3 million, which was 16% up on the same period in 2019, the company said.

READ: Namaste says CannMart subsidiary delivers initial purchase order for bulk cannabis distillate to Adastra Labs

The group's core growth engine, e-commerce subsidiary CannMart, saw its revenue lifted by an impressive 798% to C$1.3 million, excluding excise tax, compared to the same period last year.

The group's loss for the quarter was reduced to C$7.4 million compared to a loss of C$10.3 million in 2019, reflecting the restructuring efforts and improvements made, it added.

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Helix Technologies rolling out new “Cannalytics" Grow platform

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(OTCQB: HLIX) President of Data Services Garvis Toler joined Steve Darling from Proactive Vancouver to discuss the company releasing a new tool that allows cannabis operators to forecast yields and harvest dates. Toler telling Proactive why they think there is a need for this cultivation software and why he feels this market is very underserved.

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Helix Technologies releases Cannalytics Business Intelligence data platform for cannabis cultivators

The platform integrates cultivation software, allowing growers to track and forecast yields, predict harvests, and track yields on a strain-by-strain basis

The Denver company is the leading provider of critical infrastructure services to the cannabis industry

Inc () announced Tuesday the release of Cannalytics Business Intelligence for cultivators, a groundbreaking data platform that delivers deep insights into the production end of the cannabis industry.

The company said the platform is the industry’s first business intelligence tool that integrates into cultivation software, allowing growers to track and forecast yields, predict harvests, track yields on a strain-by-strain basis, and maximize working capital availability through inventory management.

“Helix has quietly been on the leading edge of innovation in cannabis, in the same focused way we’ve continued to grow our market share and deliver new technology,” Garvis Toler, Helix’s president of data services said in a statement.  

READ: Helix Technologies reports 58% profit rise in first quarter of 2020

Toler added: “Not only are we bringing the power of data analytics to the cultivation market but we are delivering industry-leading insights to over 30 other legal cannabis markets as well. With the deepest and most relevant statistical data sets in the US due to our dual leadership in commercial and government contracts and deeply integrated infrastructure, we have a tremendous data advantage that we leverage for our customers.”

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