Namaste Technologies Reports Second Quarter 2020 Financial Results

~Company reports record quarter with 73% increase in year over year net revenue~TORONTO, July 24, 2020 /PRNewswire/ -A Namaste Technologies Inc. ("Namaste" or the "Company") (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF), an online platform for cannabis products, accessories, and responsible education, today reported its financial results for the second quarter ended May 31, 2020. All financial figures are in Canadian dollars unless otherwise indicated.Namaste's second quarter results continue to build on the revenue growth success posted in the first quarter as the Company solidifies its position within the cannabis value chain. On a year over year basis for the second quarter ended May 31, 2020, revenue increased and net loss decreased significantly. On a sequential basis, second quarter revenue, gross margin and the net loss improved over the first quarter of 2020. CannMart Inc. ("CannMart"), a wholly owned subsidiary of Namaste Technologies, has demonstrated its ability to attract premium brands, value added suppliers, and provincial agencies thanks to its expertise in e-commerce, production, packaging, and distribution in this highly competitive and regulated industry. As reflected in the Q2 2020 results, CannMart's expanded product catalogue grew in both its business to business ("B2B") and business to consumer ("B2C") channels. CannMart continues to strengthen its competitive position in the Cannabis industry as the space matures and shifts into consumer packaged goods. Second quarter highlights:
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