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Many have suggested this could be because if they audit the last quarter they can up-list at $3 rather than at $4...
On September 26 Namaste announced a bought deal financing with Eight Capital, whereby Eight Capital has agreed to purchase, as co-lead underwriter and joint bookrunner with Canaccord Genuity Corp., 15,000,000 units of the Company pursuant to a filing of a short form prospectus, subject to all required regulatory approvals, at a price per Unit of $3.00 for gross proceeds of $45,000,000.
Namaste is fully funded going forward with $43.9 million $CAD war chest in the treasury, virtually no debt and fast growing sales reporting $14,627,161 in revenues more than double for the same period last year for the 9 months ended May 31, 2018. Namaste is one exciting Company very well positioned to cash in on the coming Canadian Cannabis craze; the Company is one of the largest online retailer for medical cannabis delivery systems globally operating e-commerce sites in over 20 countries with distribution hubs located around the world. Namaste is also planning to up-list to the NASDAQ stock exchange which would give the Company new exposure and access to a larger base of retail and institutional investors in the US and internationally...
Namaste has an ambitious vision to become the Amazon of medical marijuana and they have a huge competitive advantage in place. Not only does Namaste already have a huge web presence with domains that have been around for 10 plus years that directly relate to the space, they also just successfully built the number #1 vaporizer Company in the world. As Sean Dillinger said “Now that we have a consumable product that we can sell the sky is the limit.”
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